Kazakhstan is one of the major players in the global energy market. This was emphasized in an exclusive interview with Kazinform by Derek Magness, President of Chevron Eurasia. According to him, this enables Kazakhstan to play a stabilizing role both regionally and globally. Over the past three decades, Chevron has become the largest foreign investor in Kazakhstan’s economy. The company is a partner in the development of the Tengiz and Karachaganak oil fields.
«Kazakhstan and its role in the future in the energy system, both regionally and globally, has a big impact. Those barrels that we move through CPC, that gas that we can eventually move and whether it’s to China, whether it’s in working in partnership with some of our other neighbors, absolutely critical. Kazakhstan plays a regional as well as a global role in those energy systems,» Magness said.
Kazakhstan’s energy potential also includes gas. According to Magness, it will become one of the key components of the future global energy balance due to its significantly lower carbon footprint. This factor will help expand the country’s opportunities, including in global markets. He also emphasized the importance of long-term partnerships amid geopolitical instability, given steadily rising demand, which is projected to increase by at least 10% by 2050. Magness noted that Kazakhstan has created favorable conditions for investors, including through the establishment of direct dialogue with the government.
«As
that stability is here and as that continues to grow as a result of the
leadership here in Kazakhstan and the outreach to the global community, that
allows for trade flows to think about moving into Kazakhstan. Kazakhstan
has a very large and it’s blessed with a natural energy resource base that can
be then turned into an engine for economic growth as a central corridor and the
need to move goods and services from consumers to demand and from manufacturing
into consumers in demand. Fantastic opportunity for Kazakhstan to leverage its
people, capacity and capabilities in that natural energy resource,» Magness added.
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