Meeting of the Ambassador of Kazakhstan with MOL Group Leadership: Strengthening Cooperation in the Energy and Petrochemical Sectors

Budapest, November 6, 2024 — A meeting was held between the Ambassador of Kazakhstan to Hungary, Abzal Saparbekuly, and the Chairman of the Board of MOL Group, Zsolt Hernádi, head of one of the leading international energy corporations. The main topics of discussion included strategic directions for cooperation, expanding MOL Group’s presence in Kazakhstan, and implementing new, promising projects in the oil, gas, and petrochemical sectors.

The Ambassador emphasized the importance of further attracting foreign investment into high-tech, high-yield projects in Kazakhstan, which is a key part of the national economic diversification strategy. The Kazakh side expressed interest in seeing MOL Group as a potential partner in processing projects, which would strengthen the country’s production potential.

Special attention during the meeting was given to developing Kazakhstan’s petrochemical industry. The Kazakh side provided information on the recent launch of the KPI polypropylene plant with an annual capacity of 500,000 tons in November 2022 and the start of construction on a polyethylene plant with a capacity of 1.25 million tons per year. The Ambassador invited MOL Group to consider participation in these and other petrochemical projects developed by KMG PetroChem.

The meeting also addressed opportunities for collaboration on green projects and sustainable development. Kazakhstan expressed its readiness to support MOL Group in implementing renewable energy projects and invited the company to explore joint initiatives.

“We highly value MOL Group’s contribution to the development of Kazakh-Hungarian cooperation and are optimistic about the potential for further expanding our business ties,” said the Ambassador of Kazakhstan.

At the conclusion of the meeting, both sides expressed confidence in the prospects for continued cooperation and a willingness to develop joint projects in the interests of both countries.