BAKU, Azerbaijan, November 6. Kazakhstan is playing an increasingly important role as a strategic supplier and partner in the global energy market, Daniel Yergin, Vice Chairman of S&P Global, said in the foreword to the National Energy Report prepared by the Kazakhstan Association of Oil, Gas and Energy Sector Organizations (Kazenergy) in cooperation with S&P Global.
According to Yergin, Kazakhstan is well positioned to adapt effectively to the rapid evolution of the global energy system.
Moreover, the ongoing transformation is creating new opportunities for countries with advantages such as significant mineral reserves, geopolitical stability, and pragmatic energy policies.
"Being a politically stable and reliable middle power, well endowed with fossil fuels and also one of the world's leaders in uranium and other critical mineral reserves, Kazakhstan is playing an increasingly important role as a strategic supplier and partner in the global energy market," Yergin said.
He noted that Kazakhstan is simultaneously pursuing a balanced approach to the energy transition, aimed at reconciling decarbonization goals with energy security, economic competitiveness and sustainable development.
"Kazakhstan's decarbonization strategy can be characterized as rational and gradual, combining the deployment of renewable energy sources and low-carbon technologies with the modernization of existing energy infrastructure," he said.
At the same time, the analysis identified several serious challenges facing Kazakhstan amid high uncertainty over the future of the energy sector, Yergin noted.
"As highlighted in previous editions of the National Energy Report, energy is not merely one component of Kazakhstan's economy, but a key element of its economic security. Although the share of the fuel and energy sector in the country's GDP has been gradually declining, it remains substantial.
"In 2025, the oil and gas industry alone accounted for 15.1% of GDP, 53.4% of exports and more than 50% of tax revenues to Kazakhstan's state budget. Such a high dependence on hydrocarbon revenues makes the economy more vulnerable to fluctuations in global oil prices and disruptions to energy exports," he said.
