The agreement was signed by the heads of three nations on November 13, 2024, in Baku, Azerbaijan.
The document aims at establishing a strategic partnership based on legal equality to foster cooperation in clean energy and energy efficiency. The sides will also jointly produce and trade eco-friendly green hydrogen and ammonia, while establishing unified technical and administrative frameworks for secure cross-border renewable energy transmission.
The key provisions of the agreement include: Defining technical/commercial conditions to ensure steady green energy supply, implementing efficiency technologies, and building export routes to Europe, and other regions; Strengthening local grids and connecting to the Black Sea submarine cable (Black Sea Energy); Setting up a joint Steering Committee (minimum 2 meetings a year) and a Working Group for annual planning; Implementing confidentiality rules and defining dispute resolution mechanisms.
By ratifying the agreement, Kazakhstan aims to enhance energy security, diversify transit routes, and foster sustainable economic growth by exporting low-carbon products.
Previously, Qazinform reported Kazakhstan and South Korea are enhancing energy and industrial cooperation.