REGULATORY LICENSING \u00a0\u00b7\u00a0 ENERGY & SUBSOIL \u00a0\u00b7\u00a0 UZBEKISTAN<\/p>\n
Uzbekistan has significant natural gas, uranium, gold, and copper reserves, and is pursuing an aggressive renewable energy programme targeting 25% of electricity generation from renewables by 2026. The energy sector remains largely state-dominated through Uzbekneftegaz and UzbekEnergo \u2014 but production-sharing agreements (PSAs), direct investment licences, and renewable energy project approvals provide structured pathways for foreign investors. Bond Stone advises on PSA structuring, subsoil use licensing, and renewable energy regulatory approvals from the Tashkent office.<\/p>\n
Production-Sharing Agreements (PSAs)<\/p>\n
The primary vehicle for foreign participation in Uzbek oil and gas \u2014 PSAs negotiated directly with the Ministry of Energy and Uzbekneftegaz. PSA terms cover exploration rights, production sharing ratios, cost recovery, taxation, and repatriation. Uzbekistan has PSAs with major international operators. Bond Stone advises on PSA negotiation, documentation, and compliance from preliminary terms through to full agreement execution.<\/p>\n<\/div>\n
Subsoil Use Licence<\/p>\n
Geological exploration and mining operations require subsoil use licences \u2014 issued by the State Committee on Geology and Mineral Resources. Licence types: geological study, exploration, and extraction. Competitive tender for commercially significant deposits; direct negotiation for strategic projects. Foreign companies operate through locally registered subsidiaries or joint ventures with Uzbek state entities.<\/p>\n<\/div>\n
Renewable Energy Approvals<\/p>\n
Solar, wind, and small hydro projects require Ministry of Energy approval, land allocation, and grid connection agreements with UzbekEnergo. Government renewable energy tendering programme active \u2014 ACWA Power, Total Eren, and Masdar have signed PPAs. CIT at 50% reduced rate for qualifying renewable energy producers registered before 1 September 2025. PPP framework available for large projects.<\/p>\n<\/div>\n
Electricity Market Licensing<\/p>\n
Electricity generation, transmission, and supply licences issued by Ministry of Energy. Market liberalisation underway \u2014 wholesale electricity market being established. Foreign investors may hold generation licences subject to Ministry approval. Grid connection and wheeling arrangements require separate agreements with UzbekEnergo transmission subsidiary.<\/p>\n<\/div>\n
CDM & Carbon Credits<\/p>\n
Bond Stone has advised on Clean Development Mechanism projects under the Kyoto Protocol in Uzbekistan \u2014 project methodology approval, designated national authority filing with the Ministry of Ecology. Uzbekistan has active CDM registered projects. Carbon market frameworks evolving in line with Paris Agreement implementation.<\/p>\n<\/div>\n
Mining Licences \u2014 Gold, Copper, Uranium<\/p>\n
Uzbekistan is a significant gold and copper producer with growing rare earth interest. Mining licences for non-hydrocarbon minerals issued by State Committee on Geology. Navoi Mining and Metallurgical Company (NMMC) dominates gold and uranium. Foreign joint ventures with NMMC and Almalyk MMC remain the primary entry route for large-scale mining operations.<\/p>\n<\/div>\n<\/div>\n
Chinese EPC Contractors \u2014 Power Plant Licensing<\/p>\n
EPC \u00b7 Power \u00b7 Construction Licensing \u00b7 Multiple<\/p>\n
Advising multiple Chinese EPC contractors on branch establishment, construction and energy activity licensing, and personnel compliance for power generation projects in Uzbekistan \u2014 Ministry of Energy approvals, grid connection agreements, and UzbekEnergo interface documentation.<\/p>\n<\/div>\n
Clean Development Mechanism \u2014 Kyoto Protocol<\/p>\n
CDM \u00b7 Energy \u00b7 Regulatory \u00b7 Ministry of Ecology<\/p>\n
Advising on Clean Development Mechanism project registration \u2014 project methodology approval, CDM contract structuring, and mandatory filing with Uzbekistan’s designated national authority under the Ministry of Ecology, Natural Resources and Environmental Protection.<\/p>\n<\/div>\n
ADB Infrastructure Project \u2014 Energy Procurement<\/p>\n
ADB \u00b7 Energy \u00b7 Procurement \u00b7 Infrastructure<\/p>\n
Drafting and reviewing procurement documentation for an ADB-funded energy infrastructure project in Uzbekistan \u2014 works contracts under FIDIC Yellow Book conditions, consultant selection under ADB procurement guidelines, and environmental safeguard compliance documentation.<\/p>\n<\/div>\n
PSA Structuring Advisory \u2014 Oil & Gas<\/p>\n
PSA \u00b7 Oil & Gas \u00b7 Ministry of Energy \u00b7 Uzbekneftegaz<\/p>\n
Advising an international energy company on production-sharing agreement structuring for an Uzbek oil and gas block \u2014 PSA term analysis, cost recovery provisions, taxation treatment, repatriation mechanics, and Ministry of Energy engagement strategy alongside Uzbekneftegaz as state counterparty.<\/p>\n<\/div>\n<\/div>\n