Kazakhstan is considering the possibility of supplying clean electricity from the Caspian region to Azerbaijan, Trend.az reports.
The preliminary discussions on the matter are already underway between the two Caspian littoral states.
For now, Kazakhstan considers the possibility of supplying clean electricity from the Caspian region to Azerbaijan by constructing a high-voltage cable along the bottom of the Caspian Sea.
If the project is successful, Kazakhstan will get a chance to join Azerbaijan's energy system, and possibly transport its electricity to further directions, Kazakh officials say.
In 2022, Kazakhstan produced 113.8 billion kWh of electricity, which is 1.1 percent less than in 2021. Exports amounted to 2.2 billion kWh (+16.1 percent). The main buyers were: Russia – 1.5 billion kWh (+16.6 percent), Kyrgyzstan – 690 million kWh (+15.1 percent).
As of now, during the peak period, Kazakhstan buys electricity from Russia. In addition, based on the structure of Kazakhstan's national energy system, the Ministry of Energy is also working with the energy systems of Central Asia. This gives advantages to Kazakhstan in terms of ensuring mutual reservation and mutual supplies of electricity.
At the end of 2022, trade between Kazakhstan and Azerbaijan amounted to $461.9 million, which is 40 percent more than in 2021. At the same time, $375.3 million relates to exports to Azerbaijan (an increase of 30 percent), the remaining $86.6 million is import of goods from Azerbaijan (an increase of 95 percent). This volume of trade turnover is a historical maximum in the trade and economic relations of the countries.
In general, the gross inflow of FDI into Kazakhstan at the end of 2022 amounted to $28 billion. Of this, $69.7 million (or 0.25 percent) came from Azerbaijan. At the same time, in absolute terms, this indicator is the maximum for the period 2005-2022.
