EBRD and KazTransGas to cooperate in projects to increase energy efficiency.

PRESS RELEASE

European Bank for Reconstruction and Development (EBRD) and Kazakhstan national operator in sphere of gas and gas distribution KazTransGas agreed to cooperate in supporting initiative to switch Kazakhstan to green economy.

In accordance with the Memorandum of Understanding, which was signed today in Astana, the partners agreed to jointly consider opportunities to increase energy efficiency in gas transporting sector. Effective and prudent use of energy and loss reduction will help in increasing energetic security and in decreasing greenhouse gas emissions. The memorandum was signed by Senior Vice President of EBRD Phil Benet and Director General of KazTransGas JSC Rustam Suleymanov.

In particular, EBRD and KazTransGas, which is the main gas transporting and distributing company in Kazakhstan, will study possibilities to upgrade and to increase energy efficiency of gas compressing stations, gas distribution networks, monitoring and leak inspection systems, and SCADA systems.

“Memorandum signed today allows us to continue developing cooperation in regional development of gas distribution networks. We hope that EBRD as the leading international financial institution, will help implementing such large projects of great social importance for Kazakhstan as developing gas distribution network in Astana and producing methane on coal beds in Karaganda region”, said Rustam Suleymanov.

For your information: EBRD and KazTransGas started cooperation this May when EBRD agreed to about invest 300 million EUR for two large Kazakhstan projects, aimed at capacity increase and upgrade of gas distribution networks and Bozoy underground gas storage, which are expected to facilitate gradual phasing out of coal generation of electric and heat energy in Kazakhstan.

Signing of Memorandum precedes the next COP22 climate change conference to be held in Morocco. According to results of previous historic Paris conference, Kazakhstan agreed to decrease CO2 emission levels and to facilitate further development of sustainable energy usage. EBRD continues supporting Kazakhstan initiatives to build “green economy” by financing first projects of solar and wind energy in the country, energy efficiency projects, and projects supporting instruction of legislation which regulates power generation by renewable sources.

Up to date, EBRD has invested about 7.5 billion USD to Kazakhstan economics. One of the bank’s priorities is to facilitate facing such global challenges as climate change.

Press Service of “KazTransGas” JSC

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