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Gazprom to invest US$1.5 billion in Uzbek projects - 2006.01.24/22:27
Uzbek president Islam Karimov said Tuesday that Russian natural gas giant
Gazprom planned to invest US$1.5 billion (1.2 billion) in gas projects in
the resource-rich Central Asian state.
Karimov was speaking before a summit in St. Petersburg of the Eurasian
Economic Community _ a grouping of several ex-Soviet countries that aims
to restore economic ties lost after the 1991 Soviet collapse.
"Major communication and energy will projects be legally drawn up within
the Eurasian Economic Community summit," Karimov said in televised
comments.
An official at Gazprom familiar with the negotiations confirmed that the
company would sign an investment agreement worth US$1.5 billion over 5 to
8 years with Uzbekistan at Wednesday's summit. He was unable to provide
further details of the investment and spoke on condition of anonymity as
the company had yet to make an official announcement about the deal.
Russian oil and gas companies have recently stepped up activity in
Uzbekistan as Karimov has edged closer to Russia, irritated by Western
criticism of a brutal crackdown on mass protests in the eastern city of
A...