• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10771 0%
  • UZS/USD = 0.00009 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10771 0%
  • UZS/USD = 0.00009 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10771 0%
  • UZS/USD = 0.00009 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10771 0%
  • UZS/USD = 0.00009 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10771 0%
  • UZS/USD = 0.00009 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10771 0%
  • UZS/USD = 0.00009 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10771 0%
  • UZS/USD = 0.00009 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00205 0%
  • TJS/USD = 0.10771 0%
  • UZS/USD = 0.00009 0%
  • TMT/USD = 0.28571 0.28%

Viewing results 1 - 6 of 69

Samarkand Declaration Paves the Way for a Stronger Central Asia–EU Partnership

The inaugural Central Asia-European Union Summit, held in Samarkand on April 3-4, marked a significant milestone in strengthening ties between the two regions. According to Sherzod Asadov, press secretary to Uzbekistan's President Shavkat Mirziyoyev, the summit's most significant outcome is the adoption of the Samarkand Declaration, which is expected to provide strong momentum for expanding constructive dialogue and cooperation across all sectors. In a statement, the EU reaffirmed its "commitment to deeper cooperation in an evolving global and regional geopolitical landscape [and] upgrade relations between the European Union and Central Asia to a strategic partnership." The EU declaration also committed the bloc to respect the "sovereignty and territorial integrity of all states within the framework of all international and regional fora" and expressed readiness to "address common security challenges." Strengthening Economic Ties Economic cooperation featured prominently on the agenda. Since 2020, trade between Uzbekistan and the EU has doubled, now exceeding €6 billion. Uzbek exports to the EU have quadrupled, and the number of joint ventures has surpassed a thousand. European investment projects in Uzbekistan, meanwhile, are now valued at over €30 billion. A key development was the agreement to open a regional office of the European Investment Bank (EIB) in Tashkent. Established in 1958, the EIB is the EU’s primary financial institution, and its new office is expected to attract greater investment in green energy, modern infrastructure, and digitalization. The European Bank for Reconstruction and Development (EBRD) has also deepened its engagement in Uzbekistan, investing over €5 billion to date. “We must work together to simplify trade procedures and ensure that Central Asian products gain greater access to European markets. Only through joint efforts can we build a strong and resilient economic partnership,” Mirziyoyev told Euronews. "Over the past seven years, the trade turnover between Central Asian countries and the EU has quadrupled, amounting to 54 billion euros... The signing of the Samarkand Declaration will reflect the common aspiration of the parties to establish a strategic partnership and lay the foundation for deepening ties between our regions." During the summit, Mirziyoyev met with European Commission President Ursula von der Leyen and European Council President António Costa. Discussions focused on trade, investment, green energy, and digital development, with the EU’s "Global Gateway” strategy, a counterpart to China’s Belt and Road Initiative, a central topic. The initiative is seeking to enhance global infrastructure and connectivity while promoting sustainability and transparency. “The EU and Central Asia are becoming closer partners, and this summit marks the beginning of a new phase in our cooperation,” von der Leyen stated. An Enhanced Partnership and Cooperation Agreement between Uzbekistan and the EU is also under negotiation. Regional Dialogue Among Central Asian Leaders The Summit also offered a platform for Central Asian heads of state to hold bilateral discussions. Mirziyoyev met with his counterparts from Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan. Talks centered on increasing trade, improving border security, and advancing major infrastructure projects. A recent landmark border agreement between Uzbekistan and Kyrgyzstan was lauded as a breakthrough. Uzbekistan...

Kazakhstan to Expand Oil, Gas, and Green Energy Production in 2025

The Ministry of Energy of Kazakhstan has released its 2024 fuel and energy sector report and outlined its plans for 2025. The country aims to increase crude oil and natural gas production while expanding renewable energy capacity. Oil Production and Refining In 2024, Kazakhstan produced 87.7 million tons of crude oil. Oil refining met the target of 17.9 million tons, while the production of: Oil products reached 14.5 million tons (exceeding the plan) Liquefied gas totaled 3 million tons Petrochemical products amounted to 540,000 tons In 2025, the country aims to boost crude oil production to 96.2 million tons, driven by the expansion of production at the Tengiz field and continued development at Karachaganak, Kalamkas-Sea, and Khazar. Natural Gas Expansion and Infrastructure Kazakhstan produced 59 billion cubic meters (bcm) of natural gas in 2024 and plans to increase output to 62.8 bcm in 2025. As of last year, 61.8% of Kazakhstan’s population had access to natural gas supplies. The government plans to expand gasification efforts in 2025 through the completion of major gas pipelines and distribution stations. Growth in Renewable Energy and Electricity Generation Kazakhstan generated 117.9 billion kWh of electricity in 2024, with 7.58 billion kWh (6.4%) coming from renewable energy sources (RES). In 2025, the country will implement nine new RES projects with a total capacity of 455.5 MW, further increasing the share of green energy and reducing the carbon footprint of Kazakhstan’s energy sector.

Kyrgyzstan Begins Construction of a New Solar Power Plant

Kyrgyzstan has launched the construction of a new solar power plant in the Kemin district of the Chui region, approximately 100 kilometers east of the capital, Bishkek. The plant will have a capacity of 100 MW and is expected to generate 155 million kWh of electricity annually. According to the government, this will help reduce carbon dioxide emissions by 140,000 tons and coal consumption by 50,000 tons per year. At the January 21 groundbreaking ceremony, Chairman of the Cabinet of Ministers Adylbek Kasymaliev described the project as a significant step toward achieving Kyrgyzstan’s energy independence and advancing sustainable development. Acknowledging that the country still heavily relies on its Soviet-era hydroelectric power plants for electricity generation, Kasymaliev emphasized Kyrgyzstan’s commitment to adopting modern and environmentally friendly energy solutions. Kasymaliev also highlighted the country’s growing energy demands, noting that Kyrgyzstan’s population now exceeds 7 million and new large-scale industrial enterprises are being established. He expressed optimism that the new solar power plant would help alleviate electricity shortages, which remain a pressing issue, especially during the winter months. The chairman extended his gratitude to Chinese partners and investors, particularly those from Shaanxi Province, for their support and contributions to the project. Kyrgyzstan is actively addressing its energy challenges by investing in a diversified mix of renewable energy initiatives, including solar and wind farms, as well as large hydroelectric power projects.

Rosatom to Build 100 MW Wind Farm in Kyrgyzstan

Rosatom Renewable Energy, the wind power division of Russia’s State Atomic Energy Corporation Rosatom, has signed an investment agreement with Kyrgyzstan’s Cabinet of Ministers to construct and operate a 100 MW wind farm in Kok-Moinok village, located in the Issyk-Kul region The agreement was formalized by Taalaibek Ibraev, Kyrgyzstan’s Minister of Energy; Grigory Nazarov, Director General of Rosatom Renewable Energy; and Dmitry Andreyev, Director General of NovaWind Kyrgyzstan, LLC. The project represents Rosatom’s first export initiative in wind power generation. A ceremonial milestone was reached in September 2024 with the laying of a time capsule at the site of the future wind farm. Design and survey work, along with equipment procurement, is slated to begin in 2025. Rosatom's Broader Role in Kyrgyzstan Rosatom has been actively advancing strategic energy projects in Kyrgyzstan. In January 2022, the company and Kyrgyzstan’s Ministry of Energy signed a memorandum of cooperation to construct low-power nuclear power plants based on the RITM-200N reactor. Additionally, Rosatom is contributing to the development of Kyrgyzstan’s hydroelectric capacity, including the construction of the Leilek HPP (5.9 MW), Jerooy HPP (28 MW), and Chandalash HPP (30 MW). These efforts reflect the company’s diversified approach to strengthening the country's energy sector. Kyrgyzstan continues to face electricity shortages, particularly during the harsh winter months. To tackle this issue, the country is investing in a mix of renewable energy projects, including solar and wind farms, as well as large hydroelectric power plants. Rosatom’s 100 MW wind farm in Kok-Moinok is expected to play a significant role in diversifying Kyrgyzstan’s energy sources and enhancing energy security.

Uzbekistan to Build New Solar Plant with World Bank Support

The World Bank has approved a $3.5 million payment guarantee to support Uzbekistan’s renewable energy development. The guarantee covers the National Electric Grid of Uzbekistan JSC’s obligation to purchase electricity from a 100-megawatt solar power plant to be built and operated by the French company Voltalia in the Khorezm region. Details of the Solar Plant Project The solar plant, set to be commissioned in November 2025, will span 177 hectares and generate more than 240 gigawatt-hours of renewable energy annually. It is projected to reduce CO₂ emissions by over 230,000 metric tons each year and produce enough clean energy to power approximately 60,000 households. This initiative aligns with Uzbekistan’s commitment to increasing clean energy production and advancing its transition to a green economy. Broader World Bank Support In addition to this project, the World Bank has allocated $800 million to accelerate Uzbekistan’s transformation into an inclusive and stable market economy. This financing supports reforms to: Improve the business environment. Enhance agriculture, railways, and energy efficiency. Strengthen public finance management. Expand social services. Increase preparedness for environmental risks. Favorable Financing Terms The World Bank’s financial support employs highly concessional loans, offering low-cost, long-term repayment options that are more favorable than standard international financial market rates. Uzbekistan’s collaboration with the World Bank underscores its strategic focus on sustainable development and clean energy to meet environmental and economic goals.

Central Asia’s Pivotal Role in the Global Energy Transition

The United States and Europe are driving a global shift from fossil fuels to renewable energy, though progress has been slow. Central Asia’s oil, gas, uranium, and green hydrogen resources are expected to remain vital for Europe and global energy security for years to come. Within Central Asia, a shift to cleaner natural gas and nuclear energy is anticipated to replace coal-fired power, reducing environmental harm. Europe’s push for electrification has also renewed focus on nuclear energy, increasing the strategic and commercial value of Central Asia’s uranium deposits. On December 16, 2024, The Times of Central Asia, in cooperation with the Central Asia-Caucasus Institute and the American Foreign Policy Council, hosted a Burgut Expert Talk titled, "Central Asia in the Energy Transition". The event featured presentations by Dr. Svante Cornell and Dr. Brenda Shaffer, who outlined their takes on the topic. The discussion focused on Central Asia’s significant role in the global energy landscape, particularly in light of the push for renewable energy and Europe's efforts to diversify its energy sources. Challenging the notion of a true "energy transition," Shaffer argued that despite substantial investment in renewable energy, fossil fuels remain dominant. Shaffer pointed out that traditional biomass burning continues to be a major energy source in developing countries, posing significant health risks. Highlighting the fact that renewables often rely on a baseload of fossil fuels, Shaffer noted that this makes complete reliance on renewables impractical, especially in regions with harsh winters, such as Central Asia. Dr. Shaffer further emphasized that European policies, including the reluctance to finance fossil fuel projects and the instability of U.S. LNG exports, serve to hinder diversification efforts. Stressing the need for affordable and accessible energy solutions - particularly for developing countries - to address the issue of indoor pollution caused by traditional biomass burning, she argued that natural gas can serve as a bridge fuel, offering a cleaner alternative to traditional methods. Dr. Cornell focused on the rising importance of Central Asia as a major uranium producer, supplying a crucial element for nuclear energy, which is gaining renewed interest as a low-carbon energy source. Cornell highlighted the dependence of the EU on uranium imports and the potential for Central Asia, particularly Kazakhstan, to play a pivotal role in supplying this demand. Outlining the geopolitical dynamics surrounding uranium, Cornell noted the involvement of France, Russia, and China in Central Asia's uranium sector, emphasizing the importance of Central Asian states maintaining a balance in their foreign relations and partnering with various countries to ensure their independence in the uranium market. Drawing parallels to the oil and gas diplomacy of the 1990s - when Central Asian countries strategically engaged with multiple actors to safeguard their interests - Cornell advocated for the development of a robust domestic nuclear industry in Central Asia, enabling the region to move beyond raw material production and gain greater control over the value chain. Cornell also stressed the need for Western powers to actively engage in the region's nuclear sector, supporting the development...