ENERGY POLICY OF KAZAKHSTAN: CHALLENGES OF SUSTAINABLE DEVELOPMENT

Abstract

This article examines the key trends and current challenges affecting the development of the oil and gas sector in the Republic of Kazakhstan under modern conditions. Based on the analysis of statistical data, regulatory documents, reports from international financial organizations, and academic publications, a comprehensive assessment of the industry's current state is provided.

The study shows that despite the sector's stable role in shaping the country's GDP and exports, it faces a number of structural problems: a high tax burden, unbalanced pricing policies, worn-out production infrastructure, and a reliance on a limited number of large fields. Particular attention is paid to the analysis of international and regional dynamics, including the impact of global prices and the restructuring of logistical connections. The research also reveals the government's ambitious plans to increase production volumes, deepen refining, and diversify the energy portfolio. The article further analyzes the measures undertaken by the state to create a more attractive investment climate, including pricing reforms and the implementation of fiscal incentives. In conclusion, based on the systematization of statistical data and predictive scenarios, measures are proposed for the sustainable and balanced development of the oil and gas sector in the medium term.