Investor Kenges Rakishev made a compelling case for Kazakhstan's emergence as a significant player in the global gas market during the Energy Trends: Gas & Petrochemicals conference held in Astana on Friday. Highlighting the nation's substantial proven gas reserves of 3.8 trillion cubic meters, with an additional two trillion projected, Rakishev addressed a panel of industry leaders, underscoring Kazakhstan's strategic advantages in a rapidly evolving energy landscape.

The president of the Fincraft Group joined 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 other prominent figures, at the day-long forum. The discussions centered on the shifting dynamics of global energy security, supply chains, and the growing emphasis on sustainability.

“Kazakhstan is going to become a global player in the gas industry,” asserted Rakishev. “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,” he emphasized, pointing to the country’s geographical advantage.

Rakishev also noted the existing infrastructure, stating, “A 55 billion cubic metres Central Asia-China pipeline already passes through Kazakhstan,” highlighting the country's existing role in regional gas transit.

His optimistic outlook aligns with recent global trends. Rakishev cited that global gas demand saw a significant 2.8% increase in 2024, surpassing the 2% average of the previous decade. Furthermore, he pointed to projections indicating that Liquefied Natural Gas (LNG) is on track to overtake pipeline trade by 2026, potentially constituting 64% of global gas trade by 2050.

Capitalizing on this increasing global appetite for gas, Rakishev announced his ambition to establish a mid-sized natural gas company. This venture aims to unlock Kazakhstan’s extensive reserves and leverage its strategic location to cater to the demands of European, Chinese, Indian, and Asia Pacific markets.

Drawing on insights from the Doha-based Gas Exporting Countries Forum (GECF), where Kazakhstan previously held observer status, Rakishev addressed a critical challenge facing the industry: the need for substantial investment.

“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,” Rakishev elaborated, underscoring the crucial role of infrastructure development in realizing Kazakhstan’s gas export potential.