The Ministry of Energy of the Republic of Kazakhstan and the European Bank for Reconstruction and Development (the "EBRD") have signed a Memorandum of Understanding (the "Memorandum") on cooperation in the development and implementation of a long-term strategy for the development of the electricity and gas infrastructure sectors in Kazakhstan (the "Strategy").
The strategy will aim to ensure the carbon neutrality of Kazakhstan's energy and gas infrastructure by 2060, by introducing phased goals and actions into existing climate and energy policies and regulations.
The memorandum describes the framework for cooperation and lays the foundation for developing a reliable path to achieve carbon neutrality in the electricity and gas infrastructure sectors, ensuring that they are consistent with the goals of the Paris Agreement and long-term sustainable development for the benefit of the people of Kazakhstan.
"A long-term cooperation with the European Bank for Reconstruction and Development helps to achieve the goals set in the energy sector. An important basis of joint work is the search for innovative solutions for long-term sustainable energy development" the Minister of Energy of the Republic of Kazakhstan, Nurlan Nogayev said at the signing of the Memorandum.
The memorandum was signed during the virtual visit of the EBRD President, Ms. Odile Renaud-Basso, to Kazakhstan. The EBRD is a pioneer in financing projects to promote renewable energy and combat climate change, and has become the largest investor in renewable energy in the regions of Central and Eastern Europe, Central Asia and the Southern and Eastern Mediterranean.
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