The loan will support policy, regulatory, and institutional reforms needed to create an enabling environment for competitive financial markets in Uzbekistan.

The agreement with the Russian Sovkombank, Gazprombank, Rosselkhozbank, and Asia-Invest bank, which will act as the organisers of the issue of rouble bonds, was reached during an economic forum held in Uzbekistan.

The new contract stipulates more flexible commercial conditions - actual spot prices for “blue fuel”, while in the previous long-term contract the gas price was tied to the “oil basket."

LUKOIL said it had acquired 15.5 percent interest in the Shah Deniz natural gas project in the Azerbaijan sector of the Caspian Sea from PETRONAS for $2.25 billion.

Nare is passionate about women in tech and believes they are essential to the industry as they bring a complementary strength and point of view.