KAZAKH INVEST at the Alberta Energy Session
Deputy Chairman of the Board of JSC "NC "KAZAKH INVEST" Madiyar Sultanbek spoke at the Energy Session of the Province of Alberta (Canada), held in Astana on September 23 this year. Vice Minister of Energy of the Republic of Kazakhstan Yerlan Akkenzhenov, Director General of the KAZENERGY Association Zhandos Nurmaganbetov, and Canadian Ambassador to Kazakhstan Christopher Duggan also participated.
Speaking at the event, M. Sultanbek presented the participants with information about the Republic of Kazakhstan's investment climate, the work of KAZAKH INVEST, and measures of state support. The Deputy Chairman of the Management Board also informed the participants about new investment opportunities in petrochemistry and oil and gas equipment production.
"Kazakhstan is implementing large-scale projects in such large oil and gas fields as Tengiz, Kashagan, and Karachaganak. The increase in oil and gas production in the country is the main driver of Kazakhstan's oil and gas engineering industry. The country produces over 90 million tons of crude oil and 59 billion m3 of associated petroleum gas annually. Meanwhile, the petrochemical market in the world continues to grow; by 2030, according to some forecasts, it will reach a volume of $ 1 trillion. We know that processed products such as polymer components and other plastic products are more than 10 times more expensive than raw products. In this regard, we invite interested investors to implement joint projects in Kazakhstan in the petrochemical industry and in producing oil and gas equipment," M. Sultanbek said.
During the session, the participants presented promising investment projects and discussed the possibilities of their implementation in Kazakhstan. At the end of the seminar, meetings were held between Canadian investors, the leadership of industry departments of the Republic of Kazakhstan, and representatives of the quasi-public sector.
The event was dedicated to exchanging experiences in the energy sector and bringing together representatives of the public and private sectors of the two countries. Thus, the Canadian delegation included representatives of several energy and environmental companies (Alberta Energy Regulator, Carbon Connect, Eiger Energy Enterprises, etc.), the Energy Forum of Canada, the Polytechnic Institute of Southern Alberta, and the aircraft manufacturer De Havilland, as well as delegates from the regional government and the Canadian Commercial Corporation.
Alberta is one of the richest and most economically developed provinces in Canada. It is the largest producer of oil (more than 80% of the total) and gas (more than 60% of the total) in Canada and also has significant reserves of coal, wind, and solar energy. During the visit, the delegation of the Province of Alberta plans to visit Almaty to participate in the 29th International Oil and Gas Exhibition.
