Uzbekistan is studying the potential of participating in the project to build a new oil refinery located in Azerbaijan. According to the proposals, some of the fuel produced at this plant could be directed to meet the needs of the Uzbek market.
Energy Minister Sherzod Khodjayev announced this initiative. He specified that the parties are also negotiating the possibility of joint production of petroleum products at facilities in both countries.
According to the minister, such cooperation will help supply Uzbekistan's domestic market with necessary fuel more stably. In addition, the countries are actively promoting the project for hydrocarbon development in the Ustyurt Plateau and are working with Kazakhstan to export 'green' electricity produced in Uzbekistan to Europe.
Earlier, an agreement was announced between Uzbekneftegaz and the Azerbaijani company SOCAR regarding the study of the possibility of creating a modern network of gas stations in Uzbekistan.