Kazakhstan signs green hydrogen project implementation with Fortescue

A Framework Agreement on the Implementation of Projects for the Production of “Green” Hydrogen in Several Regions of the Republic, Including Atyrau and Mangistau Regions, has been signed by the Government of Kazakhstan and Fortescue Future Industries.

Alikhan Smailov, the prime minister, and Andrew Forrest, the CEO of Fortescue, signed the agreement at the World Leaders Summit of the 27th Conference on Climate Change (COP27) in Egypt.

The agreement’s implementation is anticipated to significantly aid in our nation’s efforts to meet its lofty targets of carbon neutrality by 2060 and a 15% reduction in greenhouse gas emissions by 2030. According to the Memorandum of Understanding between Kazakhstan and the European Union signed the day before, future projects are planned to produce a sizable amount of “green” hydrogen, which is also intended to be provided to the European market.

In 5-7 years, Kazakhstan may rank among the top suppliers of this fuel in the world thanks to the introduction of existing technology for the generation of “clean” hydrogen.

This green hydrogen manufacturing plant is one of the biggest of its sort in the area, according to Alikhan Smailov.

“The creation of “green” hydrogen is a crucial and top priority topic for us as we work to create alternative energy sources. International specialists estimate that Kazakhstan can rank among the top 10 nations that export the most of this fuel that is good for the environment. We need the assistance of strategic partners to accomplish this goal, according to Alikhan Smailov.

He mentioned that in order to boost the participation of private businesses in the “green” energy sector, the Government of the Republic of Kazakhstan had altered the system for luring investments.

The Prime Minister emphasized that “our approach to encouraging decarbonization would be based on the maximum utilization of market mechanisms and private investment.”

According to Andrew Forrest, the creation and use of “green” hydrogen will aid in the decarbonization of heavy industry, lead to job growth, and improve the sustainability of the energy sector as a whole.

As quickly as possible, Andrew Forrest said, “We are glad to contribute our expertise and resources with Kazakhstan to assist fulfill this promise.”

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