By 2050 Kazakhstan to meet the domestic demand for environmentally friendly fuel

By 2025 Kazakhstan should meet the domestic demand for fuels in line with modern requirements to environmental friendliness, according to President Nazarbayev's Keynote Address titled “Kazakhstan – 2050 Strategy” run on his official website December 14. “Kazakhstan should shift from being a mere supplier of hydrocarbons to high value added processing and introducing advanced technology”. “To fully benefit from oil revenues in 35 years’ time (…) we need to develop a special strategy, to outline priorities, find partners, plan through all the work for years to come”. President once again reiterated that to make sure country regions work to attract foreign investments, the current moratorium for new subsurface use licenses should be lifted. He stressed that “investors should be attracted on condition they transfer the most advanced technology in both extraction and processing”. “We will be allowing investors to extract and use our natural resources only in exchange for new industrial production facilities built in our territory”. “Kazakhstan is set to be a regional magnet for investments. It is of prime importance to be the most attractive place for investments and transfer of technology within Eurasia”. At the same time, “while being a major player at the hydrocarbons market, we need to develop alternative sources of energy, implement wind and solar energy projects. We have all the capabilities for that”, President believes. “By 2050 alternative and renewable sources of energy should account for at least 50% of all the energy consumed”, President pledges.