Uzbekistan sets IPO for largest gas producer

Uzbekistan

TASHKENT, April 12, 2022 – Uzbekistan’s largest gas producer Uzbekneftegaz will have 49% of its shares made public on an international stock exchange, President Shavkat Mirziyoyev ordered on Saturday.

The state will remain in control of the company with the remaining 51% shares.

Preparations are set to begin in May 2022 and will be completed by the end of the year.

Uzbekneftegaz produced 54 bcm (1.91 tcm) of gas in 2021, amounting to 64% of national output.

The move is part of Uzbekistan’s latest economic reforms that will see other state companies become partly public, including Thermal Gas Plants, Uzbekistan Airways and UzAuto Motors.

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