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HomeBusinessSaudi-Kazakh Energy Alliance Forges Ahead with New Program

Saudi-Kazakh Energy Alliance Forges Ahead with New Program

Pact for Renewable Projects and Carbon Neutrality

March 7, 2024
in Business
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In a significant advancement for energy collaboration, Kazakhstan played host to a key signing event in the presence of its President, Kassym-Jomart Kemeluly. The dignitaries, Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz, and Kazakh Minister of Energy Almasadam Satkaliyev, ratified an executive program that will serve as a framework for cooperation under an earlier memorandum of understanding between their nations. This MoU, established in June 2023, encompasses a broad spectrum of energy sectors such as oil, natural gas and their derivatives, petrochemicals, electricity, clean hydrogen, renewables, energy efficiency, and storage technologies.

The newly signed program is designed to facilitate the development of projects within Kazakhstan that focus on renewable energy, innovation, and the fight against global warming. It also encourages initiatives that are aligned with the energy security objectives and transformational aspirations of both countries. The agreement places an emphasis on large-scale energy production and storage ventures, including electricity projects that are crucial for meeting the mutual goals of Saudi Arabia and Kazakhstan.

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Moreover, the program is set to bolster Kazakhstan’s efforts to achieve its environmental targets, which include reaching carbon neutrality by 2060. It will also pave the way for enhanced cooperation between Saudi and Kazakh enterprises across various sectors related to energy.

Tags: Carbon Neutrality GoalsEnergy SecurityInnovative Energy SolutionsRenewable Energy ProjectsSaudi-Kazakhstan Energy Cooperation
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