Putin states Uzbekistan's economic stability depends on Russian gas

Russia is a reliable supplier of hydrocarbons to Uzbekistan. The oil and gas from the Russian Federation enable the stable operation of the economy of the Central Asian Republic. Russian President Vladimir Putin emphasized this at the conclusion of talks with his Uzbek counterpart, Shavkat Mirziyoyev.

"The strategic direction is energy. Our country provides the economy of Uzbekistan with reliable and favorable conditions for hydrocarbon fuel, thereby supporting the stable operation of energy-intensive industries, agriculture, and the public sector," Putin said.

For information, in June 2023, Uzbekistan signed a two-year contract with Gazprom to purchase 2.8 billion cubic meters of gas per year—9 million cubic meters per day. In December 2023, at Tashkent's request, the Russian company doubled the gas supply. Gas is delivered through the "Central Asia-Center" pipeline, transiting through Kazakhstan. From 2026, the transit volume of Russian gas to Uzbekistan is expected to increase fourfold, reaching 11 billion cubic meters per year.

In the first quarter of this year, Uzbekistan bought 2.4 times more natural gas ($207.3 million) than last year.

It is noted that the increase occurred due to the import of Russian gas, which began in October 2023. In particular, gas import indicators for January-March 2024 are as follows:

• January: $35.6 million
• February: $131.1 million
• March: $193.5 million

In turn, during this period, gas exports amounted to $45.4 million, which increased by 2.5% in terms of value compared to last year.

Gas export indicators for January-March 2024 are as follows:

• January: $21 million
• February: $5.7 million
• March: $18.7 million