Uztransgas joint-stock company implements these projects in partnership with Climate Change Capital and UNDP Carbon Fund.

It is worth to noted that the project “Decreasing leakage of natural gas at Uztransgas compressor station”, which will be implemented with the UNDP Carbon Fund, envisages use of green investment mechanism, determined by the resolution of the Cabinet of Ministers of Uzbekistan from 23 June 2009.

Green development mechanism stipulates to accumulate part of revenue from project implementation at the special Green Investment Account, which was opened at the Central Bank of Uzbekistan. The accumulated funds will be used only to finance social, ecologic and energy saving projects.

Other project “Decreasing leakage of natural gas at gas distributing networks with low and medium pressure in Samarkand, Syrdarya and Jizzakh regions” will be realized with British Climate Change Capital.

The project will allow fully decrease leakage of gas at flange, piping accessories, valves of bolts and other parts of gas pipelines at transportation and distribution of gas due to use of modern compressors on teflon base.

Overall, currently Uzbekistan is completing preparation work and starting registration process of 8 CDM projects in oil and gas sector. The projects are related to decreasing natural gas leakage at compressor stations, distribution networks and utilization of associated gas.

Realization of these projects will allow to save 800 million cubic meters of gas per year. They will also cut emission of greenhouse gases by 8.7 million tonnes of CO2-equivalent a year. Uzbekistan will earn about US$87 million.