As Uzbekistan continues to strengthen its efforts to reduce methane emissions from the oil and gas sector, ICA-Finance is expanding its long-standing partnerships to deliver large-scale emissions reduction projects supported by carbon finance.

During Oil & Gas Uzbekistan 2026, ICA-Finance CEO Matthew Harwood shared how the company is working alongside project partner VEMA Carbon and national energy companies Uzbekneftegaz and Sanoat Energetika Guruhi (SANEG) to develop projects that reduce methane emissions while creating measurable economic value.

Watch Matthew Harwood discuss ICA-Finance's work in Uzbekistan and the role of carbon finance in accelerating methane abatement:

ICA-Finance's approach combines technical emissions reduction with climate finance. By identifying methane leaks, recovering gas that would otherwise be emitted or flared, and generating verified carbon credits, projects deliver significant greenhouse gas reductions while creating additional revenue that helps finance implementation.

"We develop projects and bring finance to identify methane leaks in oil and gas infrastructure. By fixing those leaks, we reduce greenhouse gas emissions while keeping more natural gas in the system, creating both environmental and commercial value."

Together with Uzbekneftegaz and SANEG, ICA-Finance in partnership with Vema Carbon have delivered multiple projects in Uzbekistan, including leak detection and repair (LDAR), vapour recovery unit (VRUs) and flare gas recovery projects. The company continues to expand its portfolio in Uzbekistan, where collaboration with Uzbekneftegaz now includes a second phase of a large-scale LDAR project expected to reduce more than 2 million tonnes of CO₂e annually once fully operational.

Matthew also highlighted the importance of Uzbekistan government's supportive approach to carbon markets, recognising the government's role in establishing the framework that enables carbon credit generation and export, helping unlock investment into methane reduction projects.