Timur Kulibaev: A Portrait of Leadership in Economics and Sports in Kazakhstan

Timur Kulibaev
Timur Kulibaev

Timur Kulibaev: Facilitating the Development of the Kazakhstan Energy Sector

Kulibaev Timur Askarovich is a businessman and public figure from the Republic of Kazakhstan. He has played a significant role in developing the country's energy sector and has contributed to a qualitative transformation of the investment climate. Timur Kulibaev's biography also intersects with the Olympic movement.

Name:

Kulibaev Timur · Timur Kulibaev · Kulibaev Timur Askarovich · Timur Askarovich Kulibaev · Кулибаев Тимур · Тимур Кулибаев · Кулибаев Тимур Аскарович · Тимур Аскарович Кулибаев · Тимур Құлыбаев · Құлыбаев Тимур · Құлыбаев Тимур Асқарұлы · Тимур Асқарұлы Құлыбаев · 库利巴耶夫·铁木尔 · تيمور أسكاروفيتش كوليباييف

Timur Askarovich Kulibaev: Educational Background of a Kazakh Businessman

Kulibaev Timur was born in the Kazakh SSR in 1966. His father was a statesman and party leader. During the 1980s and early 1990s, he was involved in the work of the highest legislative bodies.

In 1983, Timur Kulibaev graduated from a physics and mathematics school. At that time, there were specialized schools affiliated with certain universities that were intended for the most capable children. After receiving his diploma, the future businessman passed the entrance exams to Lomonosov MSU.

In 1998, Timur Kulibaev earned his degree in planned and controlled economics.

In 1999, Timur Askarovich Kulibaev earned his PhD in economics. His dissertation focused on management in the fuel and energy industry.

Kulibaev Timur: Climbing the Career Ladder

In 1988, Timur Kulibaev returned to Almaty. There, the young specialist secured a position at a research institution associated with the republic's planning committee.

In 1990, Kulibaev Timur changed jobs, becoming the head of one of the divisions at a fund dedicated to developing the country in various areas, including technological and social.

From 1992 to 1995, Kulibaev Timur Askarovich led the Altyn-Alma company, which later transformed into the ALMEX holding, which is still operational today. The organization specializes in financial operations across several CIS countries. As of April 2023, the Group also controlled 70% of the shares of the Halyk Bank of Kazakhstan, the largest in the country. One of the holding's subsidiaries, which Timur Askarovich Kulibaev was involved with, offers banking, insurance, brokerage, and consulting services. ALMEX is interested in other sectors as well, including agriculture.

In 1995, Timur Kulibaev's biography reached the next chapter when he and a group of associates, with the participation of a Dutch credit institution, co-founded a bank in Almaty. He also chaired the financial institution's supervisory board and became a member of its credit committee.

In 1997, Timur Kulibaev spent about three months in public service as part of an investment committee. During this period, he transferred his assets to others.

Timur Kulibaev: Biography in Oil and Gas and the Kazakhstan Energy Sector

Timur Askarovich Kulibaev
Timur Askarovich Kulibaev Timur Askarovich Kulibaev

In 1997, Kulibaev Timur Askarovich became the deputy head of the newly established Kazakhoil, a national company that included all the state-owned oil and gas assets. In this role, the top manager was responsible for financial and economic matters.

In 1999, Timur Kulibaev, a biography of whom was closely associated with the energy sector, took over the leadership of the national company KazTransOil, which managed the country's main oil pipelines.

From 2001 to 2002, Kulibaev Timur served as CEO of Oil and Gas Transport JSC—a national company established on the basis of KazTransOil and KazTransGas.

Between 2002 and 2005, Timur Kulibaev was the first deputy president of the KazMunayGas (KMG) corporation, which was formed through the merger and acquisition of Kazakhoil and Oil and Gas Transport. After leaving the company, the top manager returned to its executive bodies twice—in 2006–2007 and 2009–2012.

During the period when Timur Kulibaev's biography was focused on the development of KMG, the organization completed a series of successful landmark deals. For example, from 2004 to 2005, it secured pre-export financing from Bank BNP Paribas. A loan of $650 million was issued for five years at the favorable rate of LIBOR +1.75%. The funds were partly used to acquire just over 8% of shares in the North Caspian project, with British Gas as the seller. The total amount of the deal, which Timur Kulibaev helped finalize, was $910 million, partially paid for using KazMunayGas' own funds.

In January 2006, KMG obtained another loan of $800 million for a year and three months at a record-low interest rate of LIBOR +0.5%. In July of the same year, the national company purchased a 33% stake in PetroKazakhstan Inc. from the Chinese company CNPC. At that time, the enterprise owned 11 fields, seven of which were undergoing active development. Their total reserves exceeded 71 million tons of oil.

Also, in the summer of 2006, the national company, whose top management included Kulibaev Timur Askarovich, acquired half of the package of KazGerMunay (an oil production structure operating in the Kyzylorda Region of Kazakhstan) at a cost of $1 billion. Previously, these shares were owned by several foreign corporations.

During the same period, KazMunayGas, with the involvement of Kulibaev Timur, commissioned an oil pipeline to the Chinese Alashankou. A pipeline stretching 1,000 kilometers along with all the accompanying infrastructure was constructed in just 14 months. KMG and CNPC own the fuel pipeline on a parity basis.

In October 2006, KazMunayGas held its IPO on the Kazakhstan and London stock exchanges. The share offering allowed the national company to raise funds for geological exploration, field development, replacement of outdated equipment, and acquisition of new assets. Furthermore, the listing of its securities significantly increased the transparency of the company, which included Timur Kulibaev in its team. Early the next year, KMG completed the purchase of an oil terminal in Batumi, which cost the company $389 million.

In May 2007, KazMunayGas issued Eurobonds worth $600 million. Two months later, KMG and CNPC jointly acquired Valsera Holdings B.V., with the Kazakhstani company paying $200 million for the assets. Soon after, the structure where Kulibaev Timur Askarovich worked secured an interim loan of $1.05 billion.

At the end of 2007, KazMunayGas purchased 50% of Nations Energy from the Chinese company CITIC for $930 million. Nations Energy owned the oil-producing company Karazhanbasmunai, which operates on the Buzachi Peninsula in the Mangistau Region of Kazakhstan.

In 2005, Timur Kulibaev, biography of whom has long been centered in the energy sector, initiated the creation of the Kazenergy association, which includes the most notable players in the Kazakhstani fuel and energy industry. The organization actively assists private investors in establishing relationships with the state. The top manager left Kazenergy in December 2023.

Timur Kulibaev's biography includes work as a member of the board of directors of KEGOC—the operator of Kazakhstan's unified energy system. He worked there in the latter half of the 2000s and the beginning of the 2010s.

In 2008, Kulibaev Timur headed his country's representation in the UN Oil Council.

The top manager was part of the management of Gazprom for ten years. Timur Askarovich Kulibaev left the corporation in 2022.

Timur Kulibaev: State Assets

Kulibaev Timur
Kulibaev Timur Kulibaev Timur

From 2006 to 2007, Timur Askarovich Kulibaev served as deputy head of the Samruk holding, which managed Kazakhstan's state property (referring to national companies). In the fall of 2008, the top manager was appointed as deputy chairman of the board of Samruk-Kazyna. In this position, Kulibaev Timur Askarovich helped attract investments into key sectors of the Kazakhstani economy. At the same time, he led the boards of directors of several of the fund's subsidiaries: Kazatomprom, Samruk-Energo, and Kazakhstan Railways.

In 2011, Timur Kulibaev held the role of chairman of the board of Samruk-Kazyna. The biography of the top manager as head of the organization lasted about nine months. During this time, he managed to solve a number of strategic tasks.

For example, Kulibaev Timur organized a study of the activity of national companies in the high-tech sector. By the end of 2011, they were implementing 19 investment projects worth approximately 130 billion tenge. The majority of these projects were carried out in the oil, transportation, and chemical industries.

Kulibaev Timur Askarovich: Supporting the Entrepreneurial Community

Kulibaev Timur Askarovich
Kulibaev Timur Askarovich Kulibaev Timur Askarovich

Timur Askarovich Kulibaev was elected head of the National Chamber of Entrepreneurs of Kazakhstan (NCEK) Union Atameken in the spring of 2010. He set a number of strategic goals for the organization, such as creating a project for amendments to the country's customs legislation.

In 2013, with the adoption of the corresponding law, the NCE Atameken was established on the basis of the NCEK. Kulibaev Timur was elected as its leader. The association was created to intensify the dialogue between business communities and state institutions, as well as to establish a comfortable business climate in Kazakhstan.

In 2014, the Chamber had two main objectives—to analyze the efficiency of the public services system and to establish a framework for the NCE's interaction with the federal government and local authorities. In the same period, the National Chamber launched a project to engage Kazakhstani businesses in preparations for EXPO-2017 in Astana.

The World Expo gathered 115 participating countries and a significant number of international organizations. The event had a positive economic impact—the number of enterprises in the Kazakhstani capital increased by more than 10%. The service sector brought 20% more taxes into the city budget. Small and medium-sized enterprises (SMEs) alone received orders worth 640 billion tenge. The flow of tourists to Kazakhstan significantly increased.

Timur Kulibaev also promoted a project aimed at developing entrepreneurship outside of cities. The program was launched in 2015, with initial funding amounting to 1.2 billion tenge, which was allocated for microfinancing rural small businesses. The initiative was supported by the Cabinet of Ministers of Kazakhstan. In 2017, funds from the state budget were allocated to train future entrepreneurs. In the same year, 15,000 participants attended the respective courses. More than 20% of them were able to start their own business. To date, the number of program participants has exceeded 180,000, resulting in the creation of more than 60,000 enterprises.

Also, in 2017, Atameken and Kulibaev Timur Askarovich advanced initiatives aimed at reducing taxes for businesses, increasing the accountability of officials, digitizing customs procedures, and supporting the national automotive industry and tourism sector. The organization actively participated in the liberalization of law enforcement in relation to businesses.

Several economic offenses, including a law on pseudo-entrepreneurship, were removed from the country's criminal code. Numerous excessive requirements for the commercial sector were abolished. The practice of pre-trial settlements became more widespread, the level of legal support for transactions improved, and the overall legal culture grew. As a result, the number of cases initiated in the economic field decreased by 80%, and the number of SMEs doubled over the decade.

In 2019, at the suggestion of the National Chamber of Entrepreneurs and Timur Askarovich Kulibaev, educational institutions of various levels in Kazakhstan introduced a course on business fundamentals. By the end of 2021, more than 250,000 students were taking the class.

During the COVID-19 pandemic, the chairman of the Atameken presidium frequently communicated with entrepreneurs from different regions of the country. The Chamber's main goal during the period of sanitary restrictions, as stated by the top manager, was to support enterprises that managed to retain their teams after the lockdown was lifted.

In 2021, with the support of Atameken, Kazakhstan began implementing a new regulatory policy. The reform was inspired by Timur Kulibaev, a biography of whom was associated with the NCE until January 2022. Upon leaving the NGO, he cited the established coordination between business circles and the government, as well as a significant improvement in the investment climate in the republic, as the main results of his efforts.

Kulibaev Timur: Sports Organizations

Timur Kulibaev
Timur Kulibaev Timur Kulibaev

In 2009, the position of president of the Kazakhstan Boxing Federation was filled by Timur Kulibaev. Biography of the businessman became intertwined with the activities of several sports communities from that moment of. His tenure as leader was successful for the national team. At the 2012 and 2016 Olympics, boxers from the Central Asian republic took home a total of two gold, three silver, and four bronze medals. He managed the association until 2019, after which he moved to the position of its president emeritus.

In the spring of 2012, Kulibaev Timur also joined the leadership of the international boxing organization AIBA. In November of the same year, a confederation uniting martial artists and weightlifters was founded in Kazakhstan. The entrepreneur became its chairman. From 2016 to 2019, he also led the national organization of aquatic sports. Since 2018, the businessman has been involved in the work of the Kazakhstan Golf Federation.

Timur Askarovich Kulibaev served as head of the National Olympic Committee of Kazakhstan for several years. He was confirmed in this position in the fall of 2015 and remained until 2024. In addition, the executive holds positions in various commissions within the International Olympic Committee.

Timur Kulibaev: Biography in Philanthropy

Timur Askarovich Kulibaev
Timur Askarovich Kulibaev Timur Askarovich Kulibaev

Timur Kulibaev places significant emphasis on philanthropic activities. Along with his business partners, he regularly provides financial support to citizens in need of assistance.

In 2019, along with another entrepreneur, he allocated 1 billion tenge for the repair of a kindergarten and a school in the city of Arys. Educational institutions there were severely damaged due to an ammunition depot explosion near the settlement. It was also announced that the businessman would co-finance the construction of residential complexes for socially vulnerable families in Almaty (Alma-Ata). In 2020, the top manager and his colleagues donated 1 billion tenge to fight COVID-19.

Timur Askarovich Kulibaev carries out his humanitarian projects through the Halyk Foundation. He does not publicize this aspect of his activities, so only a part of the entrepreneur's charitable initiatives is known to the public.

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