Uzbekistan Power Q4 2018
We hold our relatively bearish forecast for Uzbekistan's power sector over the coming decade owing to a limited projectpipeline, outdated transmission infrastructure and an unattractive business environment. However, economic reforms undertakenby President Shavkat Mirziyoyev's administration as well as improving prospects for closer cooperation among Central Asian statespose a notable upside risk over the medium to long term. We expect gas-fired generation to remain dominant in the power sector,as large domestic gas reserves and production volumes offer little incentives to diversify the country's power mix.
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