BAKU, Azerbaijan, September 16. Kazakhstan is ready to resume energy supplies to South Korea and expand cooperation in the energy sector, President Kassym-Jomart Tokayev said.
According to the press service of the Kazakh president, Tokayev made the remarks during the first Central Asia - Republic of Korea Summit in Seoul.
Emphasizing the importance of energy security, Kassym-Jomart Tokayev said that Kazakhstan is among the world's leading hydrocarbon producers, with annual oil production of around 100 million tons.
"Kazakhstan is ready to expand cooperation in this area, including the resumption of energy supplies to Korea. At the same time, we see broad opportunities to expand cooperation in geological exploration and the development of new subsoil areas," Tokayev said.
Tokayev noted that there is already positive experience of cooperation between Kazakhstan and South Korean companies in the energy sector.
"For example, the Korean National Oil Corporation (KNOC) is successfully developing oil fields in Kazakhstan. Hyundai Engineering, as part of a consortium, will participate in the construction of a major gas processing plant," he said.
Furthermore, Tokayev highlighted prospects for deeper processing of raw materials, noting that Kazakhstan is actively developing its petrochemical industry, including the production of polypropylene and polyethylene.
"We invite Korean companies to participate in the creation of new high-value-added production facilities," he said.
The president also pointed to opportunities for closer cooperation in nuclear technologies with South Korean companies KHNP and Doosan Enerbility amid the global energy transition.
"We are ready for closer cooperation with KHNP and Doosan Enerbility in the field of nuclear technologies," Tokayev said.
