As the world transitions to cleaner energy sources, Kazakhstan is emerging as a key player in the global energy market. Fincraft Group’s President, Kenges Rakishev, joins Proactive to discuss the country’s promising region for energy and resource investments.
Kazakhstan, strategically located between China, Europe, and Russia, boasts a rich hydrocarbon industry, but is also emerging as a significant supplier of critical minerals essential for the energy transition. The country is investing in the renewable sector, particularly wind and solar power, to complement its oil and gas sector and strengthen long-term energy security.
Diversified Investments Shape the Local Energy Sector
Fincraft’s strategic approach and diversified investments have helped shape the local energy sector. The company balances traditional energy, oil, and gas with next-generation resources like nickel, cobalt, and renewable energy, ensuring long-term resilience. Fincraft’s investments in infrastructure and technology to reduce emissions and increase efficiency are also key to Kazakhstan’s success.
Investments and Strategies
Rakishev highlights the company’s investments in Equus Petroleum and Tethys Petroleum as part of its energy transition strategy. Focusing on cleaner extraction and refining technology is essential to meet the growing global demand for locally produced carbon-hydrocarbon. Gas is a significant component of Fincraft’s strategy, with a major project under way to construct and finish a gas plant.
The company has divested from ARK Petroleum and Nomad Oil and redirected capital to projects that align with global trends in critical minerals, low-carbon energy, and sustainable extraction.
Global Resources Portfolio and Energy Security
Fincraft’s resource portfolio includes lithium, nickel, and cobalt, essential for the renewable energy sector. The company plans to create a holding for oil and gas as well as resources like lithium, nickel, and cobalt. The development of Beineu Petroleum contributes to boosting both economic growth and energy security in Kazakhstan by securing domestic oil and gas supply while integrating with new energy infrastructure.
Positioning Kazakhstan for Success
Kazakhstan’s partnership with major players like China and the US will enable it to remain competitive and secure in the energy market. The country’s unique position allows it to bridge east and west, while maintaining energy independence. By investing in critical minerals and renewables, Kazakhstan is positioning itself as a future leader in the green energy supply chain.
Future Opportunities and Trends
As Kazakhstan embarks on a new step in the energy transition, carbon capture and low emission oil production will become priorities. The country will also focus on strengthening its pipeline energy export network to Europe and China as demand for stable non-Russia energy sources increases. Growing investment in critical minerals, rare earth materials, and grid storage will drive Kazakhstan’s development as a key player in the global shift towards electrification.
