"The secret of success is to know something nobody else knows"

Aristotle Onassis

Meeting: November 27, 2020: BREC gas and renewables emerging market series: Uzbekistan

This interactive discussion of the Brussels Energy Club took place in partnership with the Embassy and Mission of Uzbekistan to the European Union, as well as the Ministry of Investment and Foreign Trade of Uzbekistan.

Our focus topic for this meeting was:


"BREC gas and renewables emerging market series: Uzbekistan"


It took place online via zoom video conference on Friday, 27 November 2020, 12-2pm Central European (Brussels) Time


Special welcome and introduction from:  

Dilyor KhakimovH.E. Dilyor Khakimov

Ambassador of the Republic of Uzbekistan to the European Union 



With special guest discussion openers: renewables  

Aziz KhamidovAziz Khamidov

Head of department


Ministry of Investment and Foreign Trade of the Republic of Uzbekistan



Bahodir HusanovShokhrukh Abdukakhkharov,

Chief Speciliast


Ministry of Investment and Foreign Trade of the Republic of Uzbekistan



And special guest discussion openers: gas

Shokhrukh AbdukakhkharovBahodir Husanov

Head of Investment Division


Ministry of Investment and Foreign Trade of the Republic of Uzbekistan




For most avid energy security followers in Brussels, gas and renewables have long become a topic highly inter-twined on the one hand, if not a marriage of convenience on the other. During the period spanning roughly the years 2000-2010, very few of us could fail to keep a close eye on key gas supply security developments, bearing in mind those game changing supply disruptions emanating from the east. These led to our subsequent efforts to build an Energy Union and efforts to mitigate, in the midst of the growing shadow of the Shale Revolution from across the Atlantic. In the ensuing decade, as the drive towards sustainable energy culminated in the Paris agreements on climate, renewables have tended to super-cede gas as the new buzzword — the fashionable shade of green now somewhat outshining the flammable vision of blue.

Yet, while policy makers in Europe continue to push for renewables largely at the expense of fossil fuels, at the more global level gas and renewables are likely to coexist for quite some time. Indeed, spurred on by a bourgeoning, pre-Covid international LNG trade, demand for investment into a diversity of gas projects remains both politically and commercially desirable — directly in parallel to many governments likewise seeking to attract investment into renewable energy generation. This could, and should, create a more dynamic and diversified set of opportunities for energy investors to choose from, particularly in the emerging markets. We are, after all, living thorough an era of an "energy transition" and participating in the great changes taking place in the market is more desirable for many than merely observing from the side-lines.


Gas and renewables in Uzbekistan

In our next interactive discussion in the BREC gas and renewable emerging energy market series, we focus on Uzbekistan, a fast-moving Central Asian country with a population of more than 34 million. In line with the dynamic growth rates observed in many parts of the world as soon as we venture beyond Europe"s immediate neighbourhood, Uzbekistan has witnessed substantial economic transformation since it acquired independence from the Soviet Union. This is particularly the case during the last decade or so, as the government"s modernisation agenda has been buttressed by ambitious programs of economic reform and liberalisation of the business environment. The demand for energy, particularly new generation capacity in the power sector, has grown remarkably. Investment opportunities beckon along the entire energy value chain.

The government of Uzbekistan is presently targeting investments in both the gas and renewable energy sectors, particularly in solar, as the abundance of sunny days gives the country a natural advantage in power generation through the advent of solar energy. Projects of all shapes and sizes are currently available, with investor partners from the Gulf States, China, Japan, Russia and the big international energy groups already very active in the market. European stakeholders lag behind their international counterparts somewhat, though it is never too late to start since the government of Uzbekistan offers attractive terms and multiple incentives for projects in both the gas and renewable sectors. 

As we evaluate Uzbekistan in our next interactive session of the BREC gas and renewables emerging energy market series, we will turn to exploring these opportunities in substantial depth. We look forward to seeing you online on November 27.  


Program for November 27, 2020: 12:00 — 14:00 hours

  • Online arrival, virtual welcome and introduction of speakers and guests
  • Setting out the debate by the Brussels Energy Club
  • Presentations by Discussion opener 1: talk on renewables   
  • Presentation by Discussion opener 2: talk on gas 
  • Roundtable discussion with members and guests of the Brussels Energy Club
  • Meeting remains open for free-flowing online, B-to-B and B-to-G networking and exchange of zoom chat messages, both private and for the whole group
  • Brussels Energy Club will make all efforts to facilitate networking opportunities for participants.


Speaker information

Ambassador Dilyor Khakimov has developed an illustrious career as a leading diplomat serving his country for over 15 years. He has served as Ambassador Extraordinary and Plenipotentiary of the Republic of Uzbekistan to the Kingdom of Belgium, Head of Missions to the EU and NATO since September 13, 2017. From 2014-17 he was the Deputy Minister of Foreign Affairs of Uzbekistan, and Acting First Deputy Minister of Foreign Affairs of Uzbekistan from 2013-14. During 2013-14, he was also the Permanent Representative of Uzbekistan to the UN. He held several other positions in the Ministry of Foreign Affairs of his country prior to these assignments. Between the years 1998-2004 and prior to his diplomatic service, Diloyr Khakimov was developing a likewise impressive career as a specialist with the United Nations, namely with the United Nations Development Program. He obtained his tertiary and academic education at the Tashkent State Economic University, the Tashkent Institute of Oriental Studies and the Mara Institute of Technology in Malaysia. He speaks the Uzbek, Russian and English language fluently and is married, with three children. 

Aziz Khamidov is the acting Head of the Department of Energy and Infrastructure at the Ministry of Investments and Foreign Trade of Uzbekistan. Prior to that he worked at the State Investment Committee of Uzbekistan; the country"s national power operator, JSC UZBEKENERGO; and the private contracting firm: Eurasian Consulting & Engineering Services. He also spent a stint with the Energy Charter Secretariat in Brussels. Aziz Khamidov has more than 10 years" work experience in the Energy sector in Uzbekistan and Europe, including management positions. During this time, he has developed excellent attributes in the area of project management, procurement, consultancy, public investment and private project partnership, predominantly in relation to the power sector in Uzbekistan and in the domain of renewable energy projects. He is experienced in managing the full project lifecycle to achieve delivery on time, within budget and to the agreed quality specifications. In his current and recent roles with the government, his focus has been to oversee the development of some of the largest renewable energy projects in Uzbekistan, including those with some of the country"s key foreign partners. He was the Ministry's project coordinator for the development of the first IPP 100 MW PV plant in the Navoi region of Uzbekistan, IPP for 500 MW wind farms in partnership with Abu Dhabi Future Energy Company/the MASDAR Group (UAE) and the privatization of the Talimarjan thermal power plant in partnership with MUBADALA UTILITIES (UAE). Aziz Khamidov holds a Masters" Degree in International Relations from Tashkent State Economic University and a further Masters" Degree in Management under the Erasmus Mundus ECW programme from the Brussels Vrije Universiteit. He speaks English, Russian and Uzbek. 

Shokhrukh Abdukakhkharov is a new generation young specialist currently working at the Ministry of Investment and Foreign Trade of Uzbekistan, where his responsibilities include managing and coordinating activities related to the development of thermal, solar and wind power plants in the country. He supervises the tender processes, project documents negotiations with developers and lenders, and coordinates the communication between developers and government-related parties. He is rapidly developing turnkey experience in Uzbekistan's power sector and project management at the international level. Following completion of his tertiary education, he started his carrier in the position of Leading Specialist of the Ministry of Investments and Foreign Trade, which is responsible for the attraction of foreign direct investment into Uzbekistan. In his work for the ministry thus far, Shokhrukh has successfully led major IPP deals in the power sector for the development of new renewable and thermal power plants. Shokhrukh holds a Bachelor's Degree in Business Development from Westminster International University in Tashkent.

Bahodir Husanov is a leading young specialist at the Ministry of Investment and Foreign Trade of Uzbekistan, developing a solid portfolio of experience with the country"s energy and mining sectors, focusing particularly on issues relating to investment and trade. His current work for the government focuses on preparing policy recommendations seeking to improve the investment climate in the hydrocarbons sector and in the extraction industries. The Ministry of Investment and Foreign Trade was established recently, evolving from the State Investment Committee of Uzbekistan, following on from the process of restructuring and economic reform which has been taking place in the country.

Prior to joining the Ministry, between 2017 and 2019, Bahodir held different positions at the State Investment Committee of Uzbekistan, including that of Senior Specialist at the Department for Investment Policy Implementation in the Fuel and Energy Complex, and Senior Specialist at the department responsible for attracting financial and technical assistance from international financial institutions (IFIs). From 2016 to 2017, Bahodir worked as a Leading Specialist at the Agency for Evaluation of Investment Projects under the Cabinet Ministers of the Republic of Uzbekistan. Bahodir Husanov obtained his Bachelor's Degree in Economics and Finance from the University of Westminster.


Further information and participation

Registration is required for participation in this online meeting. Participation is free of charge for members and special guests of the Brussels Energy Club. A meeting ID and password required to enter the meeting will be sent to all registered participants on the evening of Thursday, November 26, 2020.

Please contact us on info@brusselsenergyclub.org for more information.

You could find video summary here.