Leading international banks, including Standard Chartered, ICBC Standard Bank, Citi, Deutsche Bank, Barclays, and MUFG, have shown strong interest in financing Uzbekneftegaz, Uzbekistan's state oil and gas company, for the years 2024-2025. This development follows a recent meeting between a delegation from Uzbekneftegaz and representatives from these financial institutions.
During the meeting, the parties discussed Uzbekneftegaz's latest corporate achievements and production results, alongside current trends in the oil and gas industry. They also explored the company’s priority tasks and financing needs for the future.
The banks proposed a range of financial instruments, including the organization of syndicated loans, the issuance of additional Eurobonds, and hedging strategies. Alternative financing options were also considered, including support from Export Credit Agencies and the Multilateral Investment Guarantee Agency.
A focus of the discussions was on emission reduction projects, which align with the environmental, social, and governance (ESG) objectives prevalent in the oil and gas sector.
In previous discussions, Uzbekneftegaz collaborated with investment companies like BlueBay Asset Management, Vanguard, Ashmore Group, Aviva Investors, Pictet Asset Management, Aberdeen, AllianceBernstein, and Amundi Pioneer. These discussions revolved around cooperation aimed at accessing European markets via the Middle Corridor and the potential establishment of a foreign trade company in Uzbekistan.
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