Uzbekistan Oil and Gas Report Q2 2016

Date: March 16, 2016
Pages: 83
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: U433F28EC15EN

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Includes 3 FREE quarterly updates

BMI View: Our outlook for Uzbekistan's gas sector remains stable as we expect gas production and export figures to remain relatively strong across our forecast period to 2025. However, the country's oil sector will continue on a downward slope leaving the country increasingly more dependent on refined fuels imports and subjecting it to potential fuel shortages.

Latest Updates And Key Forecasts
  • Uzbekistan's gas exports to Russia could rise in 2016, as Gazprom has recently suspended gas purchases from Turkmenistan, according to Turkmengaz. At the same time, Gazprom said that it would increase purchases of Uzbek gas. According to recent media reports citing unidentified Gazprom official, Russia could import around 3.1bcm of gas from Uzbekistan in 2016.
  • In late 2015, Uzbekneftegaz postponed the start of the project to build a plant for oil shale processing at a later date, according to news agency Trend sources cited by Bloomberg. Rescheduling is related to the recent decline in oil prices, as well as the fact that the company has not chosen a licensor of shale processing technology.
  • In October 2015, Japan Oil, Gas and Metals National Corporation (JOGMEC) finalised four consensus documents for technical cooperation related to oil and gas with Uzbekneftegaz. JOGMEC is expected to study unidentified oil and gas sites in the country in early 2016.
  • We expect Uzbekistan's oil and gas reserves to continue declining at a modest, but stable pace across our review period. Between 2016 and 2025, we forecast oil reserves to shrink by an average annual rate of 2.0% and reach 490mn bbl. In terms of gas, the reserves' decline is expected to average 0.6% per annum over the same period. Nonetheless, with total gas reserves forecast at 1,726bcm in 2025, Uzbekistan will remain a heavyweight in this respect.
BMI Industry View
  Table: Headline Forecasts (Uzbekistan 2014-2020)
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
Upstream Projects
  Table: Uzbekistan - Major Projects
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: Oil Production (Uzbekistan 2014-2019)
  Table: Oil Production (Uzbekistan 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Uzbekistan 2014-2019)
  Table: Gas Production (Uzbekistan 2020-2025)
Latest Updates
Structural Trends
  Table: Refining Capacity and Refined Products Production (Uzbekistan 2014-2019)
  Table: Refining Capacity and Refined Products Production (Uzbekistan 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption (Uzbekistan 2014-2019)
  Table: Refined Products Consumption (Uzbekistan 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Uzbekistan 2014-2019)
  Table: Gas Consumption (Uzbekistan 2020-2025)
Trade - Oil
Crude Oil Trade Forecasts
Latest Updates
Structural Trends
  Table: Crude Oil Net Exports (Uzbekistan 2014-2019)
  Table: Crude Oil Net Exports (Uzbekistan 2020-2025)
Fuels Trade Forecasts
Latest Updates
Structural Trends
  Table: Refined Fuels Net Exports (Uzbekistan 2014-2019)
  Table: Refined Fuels Net Exports (Uzbekistan 2020-2025)
Trade - Gas (Pipeline And LNG)
Latest Updates
Structural Trends
  Table: Gas Net Exports (Uzbekistan 2014-2019)
  Table: Gas Net Exports (Uzbekistan 2020-2025)
Industry Risk Reward Index
Central And Eastern Europe - Oil & Gas Risk/Reward Index
  Table: Regional Risk/Reward Index Averages - High Risk, Low Reward In Central And Eastern Europe
  Table: Central And Eastern Europe - Upstream, Downstream And Overall Risk/Reward Index
Upstream: China Still The Target Market
  Table: Central And Eastern Europe Upstream Risk/Reward Index
Downstream: Turkish STAR Only Bright Spot In Weak Market
  Table: Central And Eastern Europe - Downstream Risk/Reward Index
Uzbekistan - Risk/Reward Index
Uzbekistan Upstream Index - Rewards
Uzbekistan Upstream Index - Risks
Uzbekistan Downstream Index - Overview
Uzbekistan Downstream Index - Rewards
Uzbekistan Downstream Index- Risks
Market Overview
Uzbekistan Energy Market Overview
Regulatory Structure
Fiscal Regime
  Table: Uzbekistan - Upstream Tax Regime
Licensing Regime
Licensing Rounds
Oil And Gas Infrastructure
Oil Refineries
  Table: Refineries In Uzbekistan
Oil Shale Plant
Oil Pipelines
Gas Processing Plants
Gas Storage Facilities
Gas Pipelines
Gas Filling Stations
Competitive Landscape
Competitive Landscape Summary
  Table: Key Domestic And Foreign Companies
  Table: Key Upstream Players
  Table: Key Downstream Players
Company Profile
Other Summaries
Regional Overview
Central And Eastern Europe Oil And Gas Regional Overview
Oil Production: Output Growth Stalling
Oil Consumption: Weak EM Growth Softens Demand
Refining Capacity: Modernisation Over Capacity Growth
Natural Gas Production: Gas Ramp-Up Depends On China's Hunger
  Table: Central Asia-China Gas Pipeline Expansions
Gas Consumption: Demand Falters On Struggling Economies
  Table: Central And Eastern Europe - Oil And Gas Production And Consumption, Refining Capacity And Trade
  Table: Glossary Of Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Bmi's Oil & Gas Upstream Risk/Reward Index
  Table: Weighting
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Uzbekistan Oil and Gas Report Q2 2016
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