Foreign media on Kazakhstan: KazMunayGas, Middle Corridor, Kanat Sharlapaev’s interview
From Kazakh Industry and Construction Minister Kanat Sharlapaev’s interview to KazMunayGas’ plans to increase polypropylene production, Kazinform News Agency presents a review of foreign media coverage about Kazakhstan this week.
CNBC: ‘Kazakhstan can play a vital role as a critical materials supplier,’ says minister
Kazakh Minister of Industry and Construction gave an interview to American CNBC, discussing Kazakhstan’s role as a source of critical materials.
In the interview, he discussed cooperation in critical minerals between Kazakhstan and the European Union (EU), Kazakhstan’s position on the EU sanctions, and the sale of ArcelorMittal Temirtau.
“It is widely known that in uranium supplies, Kazakhstan has been reliable for many years to European partners, as well as in oil and conventional or carbon energy sources. I think this reliability fully extends to our capabilities in critical minerals as well,” said Sharlapaev.
“Historically, the majority of the European goods were reaching Kazakhstan through other countries, including Russia. It is not surprising that some of the European partners want access to markets in Central Asia, which are mostly accessible through Kazakhstan. That is part of the reason for our continuously stable trade flows with the EU,” he said.
Yahoo Finance: Kazakhstan's KMG plans to double polypropylene output at its KPI plant
Yahoo Finance published an article on December 12, citing Reuters, that Kazakhstan Petrochemical Industries (KPI), managed by KazMunayGas (KMG), intends to boost its polypropylene production to 487,500 metric tons in the upcoming year, up from the current 188,800 tons.
“KPI is the largest polypropylene producer in the region, providing 1% of world output, according to its website. Worth $2.6 billion, KPI has a capacity of 500,000 metric tons of granulated polypropylene per year, which will near with the planned increase in output,” reads the article.
The facility relies on propane supplied by Chevron-led Tengizchevroil (TCO) from the expansive Tengiz oil field. According to KMG, TCO is set to elevate its supplies to 550,000 metric tons in the coming year, a significant rise from the anticipated 258,963 tons in 2023.
Voice of America: Central Asian Trade Corridor Gains Interest Amid Regional Tensions
Voice of America published an article on December 8 discussing the Trans-Caspian International Transport Corridor, also known as the Middle Corridor.
“The emergence of a Middle Corridor — a transit network linking Asia with European markets by way of Central Asia, the Caspian Sea, and the Caucasus — is rapidly gaining momentum as an alternative to Russia-controlled routes,” reads the article.
Gaidar Abdikerimov, head of the Trans-Caspian International Transport Route Association, said the network comprises 25 transport and logistics companies including ports, vessels, railways and terminals.
“We have decreased the estimated delivery time of transit container trains from 38 days to 19 days,” he said.
Trend: Volume of EU Investments to Kazakhstan Announced
Baku-based Trend news agency published an article on December 14, citing Prime Minister of Kazakhstan Alikhan Smailov speaking about the EU investment in Kazakhstan at the 13th meeting of the Kazakhstan-EU dialogue platform.
EU is the largest trade and investment partner for Kazakhstan. The total volume of investments from Europe into the country exceeded $175 billion. Over the past 6 months, EU countries have invested more than $5.2 billion in the economy of Kazakhstan.
“The Prime Minister also said that the EU’s share in Kazakhstan's foreign trade is approximately 30%. According to him, over 10 months the total trade turnover between the parties exceeded $34 billion. The Prime Minister noted that these indicators reflect a consistent course towards strengthening trade and economic cooperation,” reads the article.
Eurasianet: Is a green Central Asia a mirage?
EurasiaNet published an article on December 11, discussing the outlet’s recent podcast focusing on environmental initiatives in Central Asia as COP28 concluded in Dubai.
“At least three agreements, of varying degrees of definitiveness, were reached between Kazakhstan and investors from France, Saudi Arabia, and the United Arab Emirates on developing large wind power facilities in the coming years,” reads the article.
“These kinds of deals will be encouraging for a government that has set itself a number of important targets on renewable energy technology. Under those targets, at least 15 percent of all electricity generated is to be provided by renewable energy sources by 2030, and that figure should increase to 50 percent by 2050,” reads the article.
