KOR UNG Investments was established in May 2011 by Uzbek Avtogaztaminot (part of the Uzbekneftegaz National Holding Company, which is specialized in CNG provision) and South Korean Kogas, Kolon, Kwangshin and Engine Tech for the construction and commissioning of 50 natural gas stations in Uzbekistan.
As reported by Trend, the Government of Uzbekistan implemented in 2007 the NGV program for road transport vehicles to switch to CNG system. The objective is to open 352 natural gas fueling sites by 2015 and achieve the goal of 29% of the national fleet running on this alternative. Currently, approximately 15-20% of the total number of vehicles registered in the country is powered by methane.
The project is funded by the founders of the joint venture.