BAKU, Azerbaijan, October 25
By Nargiz Sadikhova - Trend:
It will take some time for Kazakhstan to accelerate its energy transition, Senior Analyst at Rystad Energy Swapnil Babele told Trend.
Commenting on how this global trend towards renewable energy could affect Kazakhstan's future economic development, Babele noted that although Kazakhstan is involved with some renewable energy projects, but they are still in the feasibility stage and will take some time to develop.
“For now we estimate it will take some time for the country to accelerate its energy transition, till then oil and gas will be the country's primary hydrocarbons. The government has ambitious plans to increase crude output to more than 2 million barrels per day (bpd) by 2025, up from the present level of 1.88 million bpd,” he said.
Kazakhstan is stepping up measures to implement its obligations in the framework of the global fight against climate change, and along with this, efforts are focused on increasing the sustainability and decarbonization of the economy.
In order to implement the Paris Agreement of the Republic of Kazakhstan by 2030, the Government targets a 15-percent reduction in greenhouse gas emissions. To achieve this goal, Kazakhstan updated its Nationally Determined Contribution to Reducing Emissions (NDCs) and developed a corresponding Roadmap for 2022-2025.
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