Kazakh Officials Seal Key Investments and Partnerships at Astana International Forum
Significant Agreements and Deals to Boost Kazakhstan’s Investment and Economic Growth
The Astana International Forum, held on June 8-9, resulted in the signing of several important agreements and deals aimed at enhancing investment and economic growth in Kazakhstan.
One of the key highlights of the forum was the meeting between President Kassym-Jomart Tokayev and Claudio Descalzi, CEO of Italian energy company Eni. The discussion focused on Eni’s activities and decarbonization initiatives in Kazakhstan. Following the meeting, Eni and KazMunayGas (KMG), the national operator of the oil and gas industry of Kazakhstan, announced plans to collaborate on a joint 250-megawatt Hybrid Renewables-Gas Power Plant project in Zhanaozen, Mangystau Region. This project, the first of its kind in the country, will consist of a solar power plant, a wind power plant, and a gas power plant, all aimed at producing and supplying low-carbon and stable electricity to KMG subsidiaries in the area.
Similarly, French energy and petroleum company TotalEnergies, represented by Chairman and CEO Patrick Pouyanné, signed an agreement with Almasadam Satkaliyev, Kazakh Minister of Energy and Mineral Resources. The agreement entails the construction of a 1-gigawatt onshore wind farm and a 600-megawatt battery energy storage system in the Zhambyl Region. This renewable energy project is expected to be the largest in Kazakhstan, generating 15% of electricity from renewable sources by 2030.
Kazakhstan and the Kyrgyz Republic also reached an agreement to establish an industrial trade and logistics hub at the border checkpoints to accelerate cargo delivery and reduce logistics costs. The creation of this hub marks a significant development in the economic and neighborly relations between the two countries.
Furthermore, Kazakhstan aims to increase its exports to Qatar by approximately 60 types of goods worth $250 million. Direct flights between the two countries are also in the pipeline to facilitate trade and enhance bilateral relations.
In addition, officials from the Ministry of Energy and the Samruk-Kazyna Sovereign Wealth Fund adopted an action plan to construct a one-gigawatt wind farm with an electricity storage system in the Zhambyl Region. This ambitious project will be carried out in collaboration with China Power International Holding, a subsidiary of the State Power Investment Corporation, one of China’s largest power-generating companies.
Another notable development is the partnership between Pavlodar Petrochemical Plant and Air Liquide Munay Tech Gases to build a hydrogen production unit. This facility will have the capacity to produce 160,000 tons of winter diesel fuel annually, further enhancing Kazakhstan’s energy sector.
Lastly, the Belgian airline company Challenges Airlines is planning to establish a technical center at Astana Airport. Eshel Heffetz, CEO of Challenges Airlines, discussed cargo flights and aircraft feasibility with Talgat Lastayev, Chairman of the Committee of Civil Aviation.
These agreements and deals signed during the Astana International Forum demonstrate Kazakhstan’s commitment to attracting investments, promoting renewable energy, improving trade relations, and strengthening its economic growth.
