Kenges Rakishev Highlights Kazakhstan’s Potential as Global Gas Hub in Astana Gas and Petrochemicals Forum

/EIN News/ -- ASTANA, Kazakhstan, April 11, 2025 (GLOBE NEWSWIRE) -- Investor Kenges Rakishev highlighted today Kazakhstan’s potential as a major player in the global gas industry, emphasizing the country's 3.8 trillion cubic metres of proven reserves and an additional two trillion projected reserves, during the Energy Trends: Gas & Petrochemicals conference in Astana, the nation’s capital.

Joining a panel of speakers at the day-long forum, the president the Fincraft Group outlined Kazakhstan’s unique position amid changing global dynamics of energy security, supply, and sustainability.

He was joined by Kazakhstan’s deputy minister of energy Alibek Zhamauov, chairman QazaqGas Sanzhar Zharkeshov, chairman KazMunaiGaz Askhat Khassenov, chairman KazEnergy Bolat Akchulakov, chairman Atameken Raimbek Batalov, and chairman KazService Association Rashid Zhaksylykov, among others.

“Kazakhstan is going to become a global player in the gas industry. According to official data, we have almost four trillion cubic metres of proven reserves and more projected. We have three decades of expertise in upstream, midstream, and downstream. And we are located between Europe, India, and China,” remarked Rakishev.

“A 55 billion cubic metres Central Asia-China pipeline already passes through Kazakhstan,” he stated.

Global gas demand rose 2.8% in 2024, exceeding the previous decade's 2% average, while LNG is projected to overtake pipeline trade by 2026, reaching 64% of global gas trade by 2050.

Rakishev announced his interest in creating a mid-sized natural gas company on the back of rising global demand for gas, which will open the tap on Kazakhstan’s vast reserves and utilise the country’s strategic proximity to Europe, China, India, and Asia Pacific.

According to Doha-based Gas Exporting Countries Forum (GECF), of which Kazakhstan is formerly an observer member, the paramount challenge faced by the industry is investment, with analysts estimating as much as USD $1.11 trillion needed for development of gas fields and related infrastructure by 2050.

According to the ninth edition of the GECF Global Gas Outlook 2050, recently made public, “Kazakhstan is expected to see significant upstream gas increase by 2050, with its significant untapped reserves and strategic location in Central Asia.”

“You can see this play out right here in Kazakhstan. Although we have very large proven reserves, we are not a major exporter of natural gas because of a lack of sufficient gas transport infrastructures. Again, back to investment,” said Rakishev.

The GECF reported in its Global Gas Outlook 2050, released in March 2025, that the share of natural gas in the global energy mix is expected to rise from currently 23% to 26% by mid-century, with the Middle East, Africa, and Eurasia accounting for as much as 90% of production growth worldwide.

Kenges Rakishev (Almaty, 1979) is the Chairman of the Fincraft Group (NCOM.KZ), a majority shareholder of Fincraft Resources (SATC.KZ), listed on the Kazakhstan Stock Exchange (KASE).

He has been a member of Kazakhstan's Forbes List since 2012.

Globally known for his investments in natural resources and technology companies in the United Kingdom, Europe, and the United States, he is currently focused on investing in energy security projects.

rpl@definition.city

http://www.kengesrakishev.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3b4e95c4-8f60-4f9e-8654-3190688c72fc