|Title:||Modernization of Legal & Fiscal Framework for the Oil & Gas sector in Uzbekistan|
|Dates:||March, 2021 - October, 2021|
|Partner:||Dentons Europe LLP; Grant Thornton (Greece)|
The gas sector in Uzbekistan has the potential to provide affordable and secure energy supply in a financially viable manner, through high-performing SOEs operating in line with international governance standards. The World Bank and the Government of Uzbekistan (GoU) have developed a strategic vision to address the challenges and gaps that are currently affecting the Uzbek gas market. To fully address the identified sector issues, another wave of reforms will be required. A comprehensive problem statement has been developed that clarifies what needs to change in several dimensions. The second wave of reforms are related to the financial structure of the sector, the liberalization of the gas market, and the strengthening of the public governance as well as the corporate governance. These reforms require the modernization of existing legislation and regulations, creating the foundation for further reforms. GoU has now requested the World Bank for technical assistance supporting the implementation of the gas sector reforms.