Uzbekistan Oil & Gas Upstream Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | < 2.79 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Uzbekistan Oil & Gas Upstream Market Analysis
The market for oil and gas upstream in Uzbekistan is expected to grow at a CAGR of less than 2.97% during the forecast period of 2020 - 2025. Factors, such as increasing natural gas production, and plans to improve oil and gas production are expected to increase the growth for the Uzbekistan oil and gas market, during the forecast period. However, reducing consumption of natural gas, in the country may impede growth in the market.
- Natural gas is the most important export commodity in the country. The production of oil in the country is small and most of the fossil fuel export, in the country, are accounted by the export of natural gas.
- In 2019, New Chakar gas field has been discovered in the Fergana Valley in Uzbekistan. The gas fields are expected to aid the government to increase its production targets and provide an opportunity for the companies in the industry.
- Increasing investment in the upstream sector is expected to be the most prominent driver of the Uzbekistan oil and gas upstream industry. Increasing production of oil and gas in the country is, also, expected to further boost the market in the forecast period.
Uzbekistan Oil & Gas Upstream Market Trends
This section covers the major market trends shaping the Uzbekistan Oil & Gas Upstream Market according to our research experts:
Natural Gas to Dominate the Market
- The country is expected to export approximately 15 billion cubic meters of gas, in 2019, a 15% increase from 2018. China, the Russian Federation, and Kazakhstan are major importers of Uzbek natural gas.
- In 2018, Uzbekistan held an estimated 19.5 trillion cubic meters of proved natural gas reserves at the beginning of 2018. All of the country's proved gas reserves are held onshore because Uzbekistan is a landlocked country.
- There has been an increase in natural gas production by 6.1% Increasing to 48.7million tons of oil equivalent (Mtoe) in 2018 from 45.9 Mtoe in 2017. The natural gas consumption in the country decreased, by 1.2%, to 36.6 million tonnes, in 2018 from 37.1 million tonnes, in 2017. The increase in the production of natural gas is expected to aid the industry.
- Hence, natural gas is expected to dominate the market due to large gas basins being produced in the country and further investments being made to increase oil and gas production.
Increasing Investment to Drive the Market
- The government is expected to actualize more than 30 investment projects with USD 33 billion, investment in the oil and gas sector between 2019-2025, according to the statement from Uzbekneftegaz, in 2019.
- Natural Gas-Stream JV and Gas Project Development Central Asia is investing more than 700 million USD in gas production in the northwest of Uzbekistan. The production capacity is expected to contain 1.633 billion cubic meters of natural gas. All gas produced at the site is expected to be exported.
- There has been an increase in oil production, by 3.57%, to 2.9 million tons of oil equivalent (Mtoe) in 2018 from 2.8 Mtoe in 2017. The oil consumption in the country decreased, by 3.8%, to 2.6 million tonnes, in 2018 from 2.7 million tonnes, in 2017. The increase in oil production is expected to provide a boost to the upstream sector.
- The Uzbekistan oil and gas industry is expected to grow slightly in the forecast period due to a increase in oil and gas production in the country and increasing investment in the oil and gas sector.
Uzbekistan Oil & Gas Upstream Industry Overview
The Uzbekistan oil and gas upstream market is moderately consolidated. The major companies include JSC Uzbekneftegaz, PJSC Gazprom, LLC LUKOIL Uzbekistan Operating Company, China National Petroleum Corporation, and Centrex Europe Energy & Gas AG.
Uzbekistan Oil & Gas Upstream Market Leaders
JSC Uzbekneftegaz
PJSC Gazprom
LLC LUKOIL Uzbekistan Operating Company
China National Petroleum Corporation
Centrex Europe Energy & Gas AG
*Disclaimer: Major Players sorted in no particular order
Uzbekistan Oil & Gas Upstream Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Scope of the Study
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1.2 Market Definition
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1.3 Study Assumptions
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET OVERVIEW
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4.1 Introduction
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4.2 Oil Production and Consimption Forecast in thousand barrels per day, till 2025
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4.3 Natural Gas Production and Consumption Forecast in million tons of oil equivalent, till 2025
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4.4 Recent Trends and Developments
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4.5 Government Policies and Regulations
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4.6 Market Dynamics
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4.6.1 Drivers
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4.6.2 Restraint
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4.7 Supply Chain Analysis
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4.8 PESTLE ANALYSIS
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5. MARKET SEGMENTATION
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5.1 Crude Oil
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5.1.1 Overview
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5.1.2 Key Projects Information
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5.1.3 Recent Trends and Developments
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5.2 Natural Gas
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5.2.1 Overview
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5.2.2 Key Projects Information
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5.2.3 Recent Trends and Developments
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
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6.3.1 JSC Uzbekneftegaz
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6.3.2 PJSC Gazprom
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6.3.3 LLC LUKOIL Uzbekistan Operating Company
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6.3.4 China National Petroleum Corporation
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6.3.5 Centrex Europe Energy & Gas AG
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Uzbekistan Oil & Gas Upstream Industry Segmentation
The Uzbekistan oil and gas upstream market report include:
| Crude Oil | |
| Overview | |
| Key Projects Information | |
| Recent Trends and Developments |
| Natural Gas | |
| Overview | |
| Key Projects Information | |
| Recent Trends and Developments |
Uzbekistan Oil & Gas Upstream Market Research FAQs
What is the current Uzbekistan Oil and Gas Upstream Market size?
The Uzbekistan Oil and Gas Upstream Market is projected to register a CAGR of less than 2.79% during the forecast period (2024-2029)
Who are the key players in Uzbekistan Oil and Gas Upstream Market?
JSC Uzbekneftegaz, PJSC Gazprom, LLC LUKOIL Uzbekistan Operating Company, China National Petroleum Corporation and Centrex Europe Energy & Gas AG are the major companies operating in the Uzbekistan Oil and Gas Upstream Market.
What years does this Uzbekistan Oil and Gas Upstream Market cover?
The report covers the Uzbekistan Oil and Gas Upstream Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Uzbekistan Oil and Gas Upstream Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Uzbekistan Oil & Gas Upstream Industry Report
Statistics for the 2024 Uzbekistan Oil & Gas Upstream market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Uzbekistan Oil & Gas Upstream analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
