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. Last Updated: 07/27/2016

Gazprom to Seal Uzbek Deals

TASHKENT, Uzbekistan -- Uzbekistan and Gazprom will on Wednesday sign two agreements on developing gas fields in the Central Asian state worth around $1.5 billion, Uzbek President Islam Karimov said on Tuesday.

The agreements include a delayed production sharing agreement, or PSA, for the Ustyurt plateau in western Uzbekistan, which officials had previously said would be signed last year.

"The signing of these two documents will significantly broaden Uzbekistan and Russia's cooperation in the energy sphere," Karimov told reporters before departing for St. Petersburg for a regional summit.

"Gazprom will allocate $1.5 billion to implement these agreements."

Last week, Alexei Miller, chief executive of Gazprom, the world's largest gas company, signed an agreement with Karimov in Tashkent to buy more natural gas from Uzbekistan, but came away without a deal on the $1 billion Ustyurt PSA.

A second deal to be signed in St. Petersburg is on geological exploration in seven other blocks of gas fields in the same area.