Uzbekistan : Uzbekneftegaz Corporate Transformation
The President of the Republic of Uzbekistan on 9 July 2019 signed resolution PP-4388 which establishes a framework to implement the 'Concept for the development of the oil and gas industry of the Republic of Uzbekistan until 2030 . Resolution PP-4388 prescribes that Uzbekneftegas, Uzbekistan's vertically integrated oil and gas company and largest SOE shall unbundle and thus separate production, transmission and distribution of gas. While production shall stay in the hands of Uzbekneftegaz, Uztransgaz shall be responsible for transmission and Khududgaztaminot JSC shall be responsible for the distribution network. Unbundling has now been accomplished and as part of this TA, ADB developed a Corporate Transformation Plan for UNG.
Project Details
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Project Officer
Abado, Sarin
Central and West Asia Department
Request for information -
Country/Economy
Uzbekistan -
Sector
- Energy
| Project Name | Uzbekneftegaz Corporate Transformation | ||||||||||||
| Project Number | 52182-001 | ||||||||||||
| Country / Economy | Uzbekistan |
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| Project Status | Closed | ||||||||||||
| Project Type / Modality of Assistance | Technical Assistance |
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| Source of Funding / Amount |
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| Strategic Agendas | Inclusive economic growth |
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| Drivers of Change | Governance and capacity development Knowledge solutions Partnerships Private sector development |
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| Sector / Subsector | Energy / Conventional energy generation - Energy sector development and institutional reform |
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| Gender | No gender elements | ||||||||||||
| Description | The President of the Republic of Uzbekistan on 9 July 2019 signed resolution PP-4388 which establishes a framework to implement the 'Concept for the development of the oil and gas industry of the Republic of Uzbekistan until 2030 . Resolution PP-4388 prescribes that Uzbekneftegas, Uzbekistan's vertically integrated oil and gas company and largest SOE shall unbundle and thus separate production, transmission and distribution of gas. While production shall stay in the hands of Uzbekneftegaz, Uztransgaz shall be responsible for transmission and Khududgaztaminot JSC shall be responsible for the distribution network. Unbundling has now been accomplished and as part of this TA, ADB developed a Corporate Transformation Plan for UNG. Besides the already accomplished Corporate Transformation Plan for UNG, the project also assists the government and UNG in developing a comprehensive Gas Development Master Plan which will assess the gas resource potential in Uzbekistan, infrastructure development needs, as well as export and transit capacities in an effort to ensure adequate and financially sustainable supply of commercial gas in Uzbekistan and beyond. With a view to accomplish the gas development master plan, ADB increased the TA amount by $700,000 to further support and advance energy market development and reform. |
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| Project Rationale and Linkage to Country/Regional Strategy | The corporate transformation of Uzbekneftegaz and development of a gas master plan is a vital element in supporting the government's efforts in implementing comprehensive energy sector reforms and regional energy security. The results of the project are expected to contribute to more effective strategic planning and financial health in the energy sector. | ||||||||||||
| Impact | Financial sustainability and energy sector performance achieved |
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| Project Outcome | |
|---|---|
| Description of Outcome | Uzbekneftegaz corporate planning improved |
| Progress Toward Outcome | |
| Implementation Progress | |
| Description of Project Outputs | Uzbekneftegaz corporate transformation plan prepared Uzbekneftegaz IFRS compliant accounting procedures prepared Gas Reform Program prepared |
| Status of Implementation Progress (Outputs, Activities, and Issues) | |
| Geographical Location | Nation-wide |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Business Opportunities | |
|---|---|
| Consulting Services | The consultant's scope of work includes three separate tasks under this assignment: (i) preparation of corporate transformation plan; and (ii) creation of IFRS compliant financial and accounting, namely financial due diligence and perform credit risk rating and iii) development of a gas masterplan. These tasks will be performed by separate consulting firms and/or individual consultants. |
| Responsible ADB Officer | Abado, Sarin |
| Responsible ADB Department | Central and West Asia Department |
| Responsible ADB Division | Energy Division, CWRD |
| Executing Agencies |
Uzbekneftegaz |
| Timetable | |
|---|---|
| Concept Clearance | - |
| Fact Finding | 31 May 2018 to 31 May 2018 |
| MRM | - |
| Approval | 14 Aug 2018 |
| Last Review Mission | - |
| Last PDS Update | 23 Aug 2018 |
TA 9565-UZB
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 14 Aug 2018 | - | 14 Aug 2018 | 15 Sep 2019 | 31 Dec 2022 | 13 Mar 2023 |
| Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
|---|---|---|---|---|---|---|---|---|
| ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
| Gov | Beneficiaries | Project Sponsor | Others | |||||
| 1,225,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,225,000.00 | 30 Mar 2023 | 1,078,436.32 |
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