The paper is devoted to energy demand forecasting in Uzbekistan. Studies show that in spite of the abundant reserves of hydrocarbons, low energy efficiency can have an adverse impact on energy security in Uzbekistan in the future. Oil and gas are the main primary energy source and they ensure energy security of Uzbekistan. Energy demand forecasting is essential in order to develop an effective energy policy. Such forecast can be useful to plan oil and gas production volumes, to identify priorities for the industrial modernization and to create favorable conditions for sustainable economic development in the future. Author proposes model based on translog function for developing medium-and long-term development programs in energy sector and the modernization and technological re-equipment of industry.