Wedoany.com Report on Feb 2nd, According to the Ministry of Foreign Affairs of Kazakhstan, Kazakh Foreign Minister Yermek Kosherbayev held talks with ExxonMobil Senior Vice President Peter Lader, during which the two sides conducted in-depth exchanges on expanding investment cooperation.

During the talks, the two sides reviewed ExxonMobil's existing operations in Kazakhstan, focused discussions on key energy projects in which the company participates, and exchanged views on how to further strengthen bilateral economic cooperation.

Kosherbayev stated: "ExxonMobil is an important partner for Kazakhstan in the oil and gas sector. The company's participation in strategic projects, its contribution to the stability of the energy market, and its activities within the framework of the Foreign Investors' Council all reflect the depth of our cooperation."

Lader responded: "Kazakhstan has made positive progress in improving the investment climate, creating favorable conditions for foreign investors. ExxonMobil is committed to long-term cooperation and supports Kazakhstan's sustainable development goals in the energy sector."

Kazakhstan is promoting an energy structure transformation, aiming to achieve carbon neutrality by 2060. Current key projects include the gasification transformation of the Almaty CHP-2 and CHP-3 combined heat and power plants, the 1 GW Mirny wind power project developed by TotalEnergies, and the first nuclear power plant planned to be built near Lake Balkhash. The Mirny wind project will be equipped with a battery energy storage system and is expected to provide electricity for approximately one million people.

Furthermore, a 1 GW wind farm is planned for the Kostanay region, and several solar projects are also advancing. Regarding grid modernization, the western power grid will be unified, and new combined cycle power plants will be built in Kyzylorda and Turkistan. The nuclear power plant project in cooperation with Rosatom aims to meet industrial electricity demand. Kazakhstan plans to add 26 GW of new generation capacity by 2035, increasing the share of renewable energy to support its carbon neutrality vision.

ExxonMobil has been operating in Kazakhstan since 1993 and is one of the country's major foreign investors in the oil and gas industry. The company participates in strategic projects such as the Tengiz oil field, the Kashagan oil field, and the Caspian Pipeline Consortium, with its business covering the exploration, production, and transportation of hydrocarbons.