Energy cooperation: Kazakhstan and Romania will establish a working group to support investments

On February 15-16, 2024, the 17th meeting of the Kazakh-Romanian intergovernmental commission on trade-economic and scientific-technical cooperation was held in Bucharest. Co-chair from the Kazakh side was the Minister of Energy Almasadam Satkaliyev, from the Romanian side - Minister of Energy Sebastian Burduja. Also, the meeting was attended by ambassadors, the Ministry of Agriculture, the Ministry of Transport, the Ministry of Labor and Social Protection.

During the event, the parties discussed the prospects for economic cooperation between the two countries in various sectors. In the field of energy, an agreement was reached to establish a joint working group of representatives of the Ministries of Energy and Finance. The working group will develop mechanisms to promote further growth of bilateral cooperation and support mutual investments in the energy sector. A number of Romanian companies have expressed interest in cooperating with Kazakhstan in the supply of equipment and components for the oil and gas sector. This proposal will be studied by the Kazakh side. Also, representatives of the countries agreed to hold further discussions on the development of cooperation in the chemical and metallurgical spheres; agreed to encourage companies participating in auctions for renewable energy projects in Romania and Kazakhstan. In the field of transportation, the parties agreed to develop and use the potential of the Trans-Caspian International Transport Route. By the end of the first quarter of 2024, a working group on cooperation in the field of transport will be established. They also discussed prospects for cooperation in agriculture, culture and tourism, labor and social protection of citizens, and outlined projects for the development of bilateral partnership.

During his visit to Romania, Kazakh Energy Minister Almasadam Satkaliyev visited and familiarized himself with the work of Rompetrol's Valcele gas stations and Petromidia refinery.

"To date, the largest foreign investment project of the Republic of Kazakhstan is the acquisition of Rompetrol by the national company KazMunaiGas in 2007. Kazakhstan firmly intends to continue to maintain investment activities in our friendly Romania, said Satkaliyev.

The Minister also met and held talks with the General Director of "Nuclearelectrica", as well as with the management of the company "RomGas".

The readiness of "Nuclearelectrica" to share experience in the development of social nuclear energy, the level of support to the population, the development of nuclear power over 80% in Romania.

For reference: According to Kazakh statistics, the trade turnover between Kazakhstan and Romania in 2023 amounted to 2.9 billion US dollars, which is 8.5% more than in the same period of the previous year (2.7 billion US dollars). Exports in 2023 increased by 10.1% and amounted to 2.8 billion US dollars, imports decreased by 21.1% and amounted to 112.2 million US dollars. There are 49 legal entities with the participation of Kazakhstani capital operating in Romania, working in the field of energy, trade, furniture manufacturing, clothing and footwear, as well as the production of medicines. In turn, there are 28 joint Kazakh-Romanian enterprises registered in Kazakhstan, mainly engaged in the oil and gas sector.