BAKU, Azerbaijan, June 15. In a significant development for Kazakhstan's energy sector, Kazakhstan's QazaqGaz national company and the European Bank for Reconstruction and Development (EBRD) have solidified agreements aimed at modernizing the country's gas transportation system, Trend reports.
According to QazaqGaz, in this regard, a mandate letter was signed during the Astana International Forum. This event marks a crucial step towards advancing renewable energy sources and fortifying the nation's energy security.
The main focus of the letter lies in the modernization of Kazakhstan's Bozoi gas storage facility and the overall gas transportation infrastructure across Kazakhstan. In addition, the implementation of the above initiatives will help to ensure a positive balance of gas resources and strengthen the country's energy security.
EBRD's current portfolio of projects in Kazakhstan as of March 31 exceeds 2.8 billion euros, which is calculated for the implementation of 112 active portfolio projects. In general, EBRD invested over 9.7 billion euros in 306 projects during the years of its operations in the country.