Central Asia energy exchange system could produce $22 bn economic effect- Eurasian Bank
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Creating a system of energy exchanges between the countries of Central Asia could produce an economic effect totalling $22.3 billion, said Nikolay Podguzov, the Chairman of the Board of the Eurasian Development Bank (EDB). Podguzov was addressing a session of the Second Eurasian Congress moderated by Sergey Brilev, President of the Global Energy Association.

     Podguzov noted that 77 % of water stocks in Central Asia were located in the upper reaches of the Amu Darya and the Syr Darya rivers in Kyrgyzstan and Tajikistan, while 85 % of water consumption occurs in countries located downstream, in the lower parts of those rivers – in Turkmenistan, Uzbekistan and Kazakhstan.

   And the water is consumed in an economically ineffective manner – creating serious disbalances in the way that water is used.

   Demand for electricity in the countries of Central Asia, where rivers provide the main energy source, has risen 46 % in recent years. Water shortages for irrigation and crop development amount to 26 %. And expenditure on water is twice as high as world-wide practices.

    To meet the growing demand for electricity, Central Asian countries need to build about 82 GW in additional capacity. But if a reliable system of energy exchange were in operation, only 72 GW of new capacity would be required.

   “It would seem that even this 10 GW would allow for provision of $22.3 billion in economic effect, GDP growth of 1.5 % and a 40 % saving of water by introducing modern irrigation systems,” Podguzov told the session.

    He said financing the creation of an energy exchange system was of the tasks being undertaken by the EDB.

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