Importance The European Union (EU) is Kazakhstan's first trade and economic partner despite neighboring markets of Russia and China. The parties have signed the Enhanced Partnership and Cooperation Agreement in 2015 with respect to Kazakhstan's obligations in the Eurasian Economic Union and WTO. Energy is a key element in the cooperation between Kazakhstan and the EU. Both sides are keen to provide energy security. The major part of the Kazakh oil exports goes to Europe. Kazakh crude oil and uranium are the most valuable energy resources for the EU in Central Asia. Objectives The research provides unbiased information about the current status and prospects for the development of the bilateral cooperation in energy. Methods The research applies a systems approach and traditional method for comparative analysis, up-to-date statistical data from international and Kazakh sources. Results I overview the Kazakh oil and gas industry and the European multinational corporations' strategy in the country. I make the first attempt to scrutinize the structure of trade in energy goods, existing barriers that impede a full-fledged Kazakhstan-EU energy dialogue. I thus introduce my own recommendations and describe the role of Russia and China in the Kazakh-European energy cooperation. Conclusions and Relevance Despite the relatively high level of Kazakhstan's cooperation with the EU in energy, Astana will remain just an alternative energy supplier to Europe, and thus the share of the country's energy supplies is unlikely to increase. The role of Russia and China in the Kazakh energy industry will rise and that of the EU will decline in the future.
Keywords: energy, trade, investment
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