This week, key topics were discussed in the fields of advertising, renewable energy, and the fuel industry. In this weekly roundup, Spot has gathered the most important articles and news you might have missed.
Advertising
On November 10, raids began in Tashkent against outdoor advertising installed in violation of regulations. Over 1600 objects were dismantled on the first day across all districts.
The following day, November 11, reports of the removal of illegal advertising structures surfaced in at least half of the capital's districts. In the Mirabad district alone, more than 100 banners and billboards were taken down.
The Tashkent administration acknowledged criticism regarding “chaotic and bright advertising” on social media. Owners of advertising structures were accused of creating “visual clutter” and “information noise,” which “make living in the city less comfortable.”
“We urge all owners of advertising structures not to waste time and to legalize their advertising by aligning it with the requirements of the unified design code,” said a statement from the city administration.
The design code was developed by the Department of Digital Development and approved by the city council on October 25. It prohibits the installation of advertising structures on cultural heritage sites, in front of windows and doors of buildings, on sidewalks, light fixtures, and also audio and projection advertising. You can familiarize yourself with it here.
1Photo: Press service of the Yakkasarai district administration
The business ombudsman commented on the situation regarding the dismantling of advertising structures in Tashkent. The statement noted that the installation of outdoor advertising objects is regulated by a number of legal acts.
If an advertising object is installed without compliance with the legal requirements (including posters and announcements outside the structures), its placement is deemed illegal. It is subject to dismantling at the owner's expense, the office emphasized.
Owners of legally installed advertising objects that are illegally demolished were advised to contact the business ombudsman's office. This can be done by calling the short number 1100.
The Committee on Competition also reported an investigation into the company Avesta Komfort Eko-Gaz due to illegally installed advertising structures.
Additionally, regional TV channels Amudaryo, FTV, and Muloqot received warnings for violations of the “Advertising” law. An analysis revealed violations of the maximum advertising volumes on the air of the three channels.
Energy
On November 12, Shavkat Mirziyoyev spoke at the UN Climate Change Conference (COP29) in Baku. The President announced the imminent signing of a multilateral agreement for energy supply to Europe.
The next day, the presidents of Uzbekistan, Kazakhstan, and Azerbaijan signed an Agreement on Strategic Partnership in the Development and Transmission of Renewable Energy.
The heads of state emphasized the importance of accelerating project implementation, including the establishment of a joint venture, development, and coordination of technical documentation and other procedures.
Deputy Minister of Energy Umid Mamadaminov told Spot in an interview that by 2030, Uzbekistan will be able to export up to 10-15 billion kWh of renewable electricity to Europe.
2
Photo: Press service of the president
The Ministry of Energy and the UAE company Masdar signed a contract for the construction of a large wind power plant during the COP29 conference. The project is planned to be implemented in the Uchkuduk district of the Navoi region. The capacity of the wind farm will be 1 GW.
Another agreement for the construction of energy storage systems in Uzbekistan was signed with the Saudi company ACWA Power. Their capacity will be 2 GW, and the project cost is estimated at $1.1 billion.
Furthermore, starting January 1, 2025, the import of solar panels, inverters, and energy storage systems that are not included in the BNEF Tier 1 list will be restricted in Uzbekistan. The list will be published on the websites of the Ministry of Energy and the Customs Committee with monthly updates.
Energy Minister Jurabek Mirzamakhmudov reported a sharp increase in natural gas and electricity consumption due to the November cold snap. According to him, an action plan has been developed in case of air temperature dropping to minus 20 degrees.
AI-80 Gasoline and Propane
The Committee for Competition Development and Consumer Rights Protection established a price ceiling for AI-80 gasoline on the commodity exchange. From November 13, a price increase limit (spread) of 5% from the seller's initial price for AI-80 gasoline was introduced. Additionally, a limit on fuel sales to one buyer remains at 4 tons.
Thus, if the initial cost of gasoline produced by the Bukhara Oil Refinery (BNPZ) is 8,931,005 sums per ton, then considering the introduced limit, the maximum price per ton of gasoline will be 9,377,555 sums.
On Wednesday, the exchange price of a ton of AI-80 gasoline fell by more than 8% to 9.32 million sums. The volume of fuel sales decreased slightly but remains around 2,200 tons.
Propane also saw a significant price drop, decreasing by 7.5% to 8.19 million sums per ton. Meanwhile, liquefied gas sales plummeted by 13.3%, dropping below the 900-ton mark. Compared to November 1, the volume of propane sales has more than halved.
Brokers speaking with Spot described the propane trading on the exchange after the price ceiling was introduced as “a regular lottery.” With identical price offers, liquefied gas is awarded to those whose applications are registered by the exchange system first. The competition is fierce, lasting mere fractions of a second.
Quote of the Week
3
The First Deputy General Director of NGMK, Evgeny Antonov, commented on the debut issuance of eurobonds on the London Stock Exchange. The total volume of applications almost six times exceeded the amount placed at $1 billion.
“I think this [placement] was so successful that it may be studied in our local business schools,” noted the top manager. “This is indeed a landmark achievement for the company and the country, as we have set a new benchmark,” Antonov added.
The majority of investments came from the UK, the USA, and European countries. British investors purchased 44% of the four-year bonds and 55% of the seven-year bonds, while buyers from the USA acquired 37% and 25% respectively. Moreover, most investors were asset and fund managers (94% and 92%).
In addition, NGMK plans to increase processing capacity at the large hydrometallurgical plant. As a result of constructing new mills at GMZ-7, the annual processing volume of technogenic waste will reach 25 million tons.
