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NEWS/

Press Release from Business Weekly of the East (July 17, 1999)

The Largest Underground Gas Storage in Central Asia Has Been Put Into Operation in Khodzhaabad
by Anatolii Dmitriev

On Tuesday President Islam Karimov took part in the ceremonial start-up of the underground gas storage at the Khodzhaabad Deposit in the Andizhan Region. The $72 million-dollar facility was built quickly to provide full and uninterrupted gas supply to the Fergana Valley.

The American company BSI Industries, Inc. supplied the equipment for the storage facility. According to the terms of the contract, $69.1 million dollars were allocated to the American company for the fulfillment of design-engineering work, the supply of equipment, construction supervision and the training of local personnel in the operation of the facility.

Project financing in the amount of $61.74 million dollars was brought about by the Chase Manhattan Bank with a loan guarantee from the Export-Import Bank. As well, $10.37 million dollars came directly from "Uzbekneftegaz."

Construction and assembly work, including the technological part, was completely fulfilled by the work force of the holding company and other local construction organizations. The total investment reached 6.9 billion Uzbek Suims.

Gas injection into the bed is carried out by 3 Dresser-Rand compressor trains, having a volume capacity of 6 million cubic meters a day. For this year it is planned to inject 450 million cubic meters into the bed. After the completion of the drilling of the second phase wells the volume of injected gas will increase to 900 million cubic meters by the year 2000.