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Energy

Uzbekneftegaz loses 3.5 billion cubic meters in six months

Uzbekistan's state gas company produced 18.3 billion cubic meters in the first half of the year, 16% below last year's pace. June's daily output was the weakest since at least early 2022.

Uzbekneftegaz loses 3.5 billion cubic meters in six months

The June floor sits at 2.5 billion cubic meters, down 26.8% year on year, with daily output at 83.3 million. Gas condensate fell 19.6% across the half, to 462,100 tonnes, and 24% in June alone. All three lines point down.

The offsets are small against the hole.

Uzbekneftegaz pairs two explanations: accidents and geology. Technological failures at production sites cut output by volumes the company does not disclose, and mature fields decline on their own. Board chairman Abdugani Sanginov handed managers an instruction that reads as a diagnosis of the whole half-year: โ€œthe priority should be preventing accidents, not eliminating their consequences.โ€

The offsets are small against the hole. 7 wells launched in August add 1.7 million cubic meters a day; 8 repaired wells add 310,000 more. Run the new wells a full year and they return roughly 0.6 billion cubic meters, against a half-year loss that already stands at 3.5 billion.

Meanwhile the border keeps the score: first-half gas imports cost $971.7 million, up 41.4%, more than 4 times export earnings for the period.

The slide lands in a week of ribbon cuttings. On Wednesday Mirziyoyev launched a 1,573 MW thermal station in Sirdarya, inside a 163-object, 50-trillion-som package. Both facts now sit on one week's ledger: capacity added, the half-year's gas subtracted.