ASTANA, Kazakhstan, January 28. Kazakhstan's
Foreign Minister, Yermek Kosherbayev, and ExxonMobil's Senior Vice
President, Peter Larden, held discussions regarding the expansion
of investment cooperation, Trend reports via the Kazakh Ministry of Foreign
Affairs.
The sides discussed ExxonMobil's ongoing activities in
Kazakhstan, including its involvement in key energy projects, and
explored ways to further strengthen mutually beneficial economic
ties.
Kosherbayev emphasized the important role of ExxonMobil as one
of Kazakhstan's key partners in the oil and gas sector,
highlighting the company's contributions to strategic projects, the
stability of the energy market, and the activities of the Foreign
Investors’ Council under the President of Kazakhstan.
In turn, Larden commended Kazakhstan's efforts to improve the
investment climate and create favorable conditions for foreign
investors, expressing the company's commitment to continued
long-term cooperation aimed at the sustainable development of the
country's energy sector.
Key energy projects in Kazakhstan are focused on transitioning
from coal to cleaner sources while aiming for carbon neutrality by
2060. Notable initiatives include the conversion of Almaty’s CHP-2
and CHP-3 to gas, the 1 GW Mirny wind project by TotalEnergies, and
plans for the first nuclear power plant near Lake Balkhash. The
Mirny project will support one million people with its
battery-based energy storage system.
Other ventures involve expanding regional renewable capacity
through the Kostanay region’s 1 GW wind farm, along with several
solar projects. Modernization includes the unification of Western
grids and new combined-cycle power plants in Kyzylorda and
Turkestan. The nuclear power plant, planned with Rosatom, aims to
address industrial demand. Overall, Kazakhstan targets an addition
of 26 gigawatts of electricity capacity and an increased renewable
energy share by 2035 to meet carbon neutrality goals.
ExxonMobil has been operating in Kazakhstan since 1993 and is
one of the largest foreign investors in the country's oil and gas
sector. The company is involved in strategically significant
projects, including Tengiz, Kashagan, and the Caspian Pipeline
Consortium, covering exploration, production, and transportation of
hydrocarbons.
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