National Energy Report of Kazakhstan-2021
During the XIV Eurasian KAZENERGY Forum in Nur-Sultan, the 5th National Energy Report (NER) was presented – a comprehensive document on the current state and prospects for the development of Kazakhstan's energy industry.
It was prepared by the KAZENERGY Association and IHS Markit, which acted as the main expert in working on the document. De facto, this report is KAZENERGY's strategic view on the sustainable development of the oil and gas and energy industries of the Republic of Kazakhstan as a single system.
To date, the Association has prepared four NER – in 2013, 2015, 2017 and 2019. However, it is the current one that is especially expected in the energy community, given the unprecedented challenges and threats that the world faced in 2020-2021 against the background of the Covid-19 pandemic and a record drop in the price of a barrel on world markets.
What is the future path of global energy development after the pandemic, including opportunities for investment in various segments of the energy industry? What policy measures are being taken in the world to implement the energy transition, how are they implemented, and how are they reflected on consumers, producers and investors? What are the main opportunities and difficulties of the energy transition (including its proposed decarbonization) for Kazakhstan? More specifically, what transition strategies are realistic and promising for Kazakhstan, and how will their implementation contribute to achieving the country's main goals in the field of climate and economy? What are the possibilities for Kazakhstan to accomplish the goals of the Paris Agreement? These and other issues are considered in the NER-2021.
As Daniel Yergin, Vice President of IHS Markit, Pulitzer Prize winner, said at the presentation, Kazakhstan is currently more prepared for various shocks in the market and the pandemic that caused the crisis around the world clearly showed this. According to him, the importance of the oil and gas sector for Kazakhstan is evident, as is the transition to low-carbon development in a measured way. In this context, according to Daniel Yergin, "investors will fight for new opportunities, and the governments of the countries will be more selective in choosing partners. Investors will also fight for projects in Kazakhstan, so it is important for politicians and the country's government to develop rules and laws that will create and mobilize all resources for sustainable development," the speaker said. According to him, international companies will want to participate in new projects, but with new forms of interaction (changes in taxation and legislation).