About

Gazli Gas statement (March 2024)

In response to recent unfounded and defamatory media speculation alleging hidden interests within Gazli Gas Storage LLC held, we would like to set the record straight and present the facts below.

In October 2023, Gazli Gas Storage completed a corporate restructuring resulting in the stake previously held by Russian Forus JSC being transferred to Daxon Holdings Limited, a company incorporated in Hong Kong. Bakhtiyor Fazilov was and remains the main beneficiary of Gazli Gas Storage and no sanctioned individual has ever held a shareholding in the company.

The decision to relocate to Hong Kong was made due to the significant volume of business with Chinese companies. Relocation to Hong Kong will facilitate payments, attract additional financing, and facilitate procurement of equipment for further business development. Additionally, the restructuring simplifies the shareholding structure, increasing transparency for international investors and counterparts.

Gazli Gas Storage operates a gas storage facility in Uzbekistan. The ongoing expansion program focuses on increasing storage volume from 3 billion cubic meters to 10 billion cubic meters – a threefold increase.

Our investment of $310 million has yielded a significant result, boosting its capacity by 50% to 4.5 billion cubic metres. Additionally, oil production has surpassed the baseline plan by 25-30% in the initial three years, delivering 47,000 tons of oil, while gas production has reached 550 million cubic meters, contributing directly to Uzbekistan’s domestic market. The project has also created employment opportunities, with over 200 new jobs already established and plans to create an additional 100 positions.

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The main objective of the JV LLC "Gazli Gas Storage" is to increase the volume of gas storage in the underground gas storage facility of the "Gazli" field in combination with additional exploration and development of gas horizons and oil rims of the field.

Top management

Dzhabriev Otabek Akbaralievich - General Director

Saidazimov Makhamatkhodzha Khabibullaevich - First Deputy General Director - Chief Engineer

Bratukhina Irina Anatolyevna - Deputy General Director for Financial Affairs

Licenses and certificates

Why choose us?

We apply international practices and the latest developments that meet modern international requirements and standards

Located at the intersection of such main gas pipelines as “Bukhara-Ural”, “Central Asia-Center” and “Gazli – Shymkent”, UGS “Gazli” is the heart of the gas transportation system of the Republic of Uzbekistan and has the ability to export gas from Uzbekistan to the Urals, to the European part of Russia, to the south of Kazakhstan and to China.

We use advanced technologies for cleaning and treating natural gas, such as gas compressor units with a capacity of 41 MW manufactured by Siemens Energy, a world leader in the supply of products, solutions, systems and technologies for the production, processing and transportation of oil and gas, energy and heat generation.