BAKU, Azerbaijan, June 20. Kazakhstan's QazaqGaz national company presented a new gas strategy until 2032, the company told Trend.
Headed by Sanzhar Zharkeshov, the QazaqGaz National Company presented its new development strategy during a meeting held in Astana. The event brought together employees from various production branches, members of the QazaqGaz expert council, esteemed figures in the gas sector, representatives of industry associations, and delegates from the Samruk-Kazyna National Welfare Fund.
QazaqGaz's strategy consists of 12 development directions, which include:
1. Stimulating changes to optimize demand.
2. Fair tariffs and prices that encourage the development of the gas industry, energy efficiency, and structural changes leading to a phased liberalization of the gas market.
3. Ensuring the growth and diversification of the resource base for natural gas.
4. Timely expansion of capacities for key gas processing projects.
5. Balancing gas supply in the country at an optimal procurement price.
6. Ensuring uninterrupted supply and maximizing the country's export-transit potential.
7. Providing infrastructure for the gas supply of the country and reducing losses.
8. Supplying gas to the petrochemical industry projects.
9. Improving operational and investment activities.
10. Developing competencies in the gas industry and building a highly competent organization.
11. Increasing organizational efficiency through the application of digital tools.
12. Preparing the company for a successful IPO.
According to the head of QazaqGaz, the new strategy will help to unlock the great potential of Kazakhstan in the gas industry. At the same time, the domestic consumption of natural gas in the country is growing annually – in 7 years, the consumption of commercial gas may increase by 2 times.
Unprecedented reforms in the gas sector have been implemented in Kazakhstan since 2022. Among them is the introduction of a new price formula for the purchase of gas from subsoil users. The new formula will attract investments in geological exploration and development of gas deposits. It is expected that the introduction of a new gas purchase price formula will help significantly increase the gas resource base.