The Senate of Kazakhstan has ratified a strategic partnership agreement with Qatar, setting the stage for approximately $20 billion in Qatari investments across priority sectors. This partnership outlines nine joint projects spanning telecommunications, energy, gas production and transportation, and finance.
Key projects include Qatar’s Lesha Bank acquiring 100% of Kazakhstan’s Bereke Bank, and Qatari Power International Holding purchasing the mobile telecommunications company Mobile Telecom Services. Additionally, the agreement covers three gas processing plants at the Kashagan field, the construction of the second line of the Beyneu-Bozoy-Shymkent gas pipeline, a new compressor station, and a gas pipeline from KC-14 to Kostanay-Aktobe.
Other major initiatives involve building a combined-cycle power plant in the Kyzylorda region and a hydroelectric power station on the Irtysh River with a capacity of up to 350 MW.
The agreement ensures a stable tax regime and protects Qatari investments in Kazakhstan, further solidifying their economic partnership. Following Senate approval, the law will be sent to the Kazakh president for final ratification.
