Kazakh Energy Ministry: Kazakhstan needs new oil refinery

Addressing the government hour at the Majilis, Kazakh Energy Minister Almassadam Satkaliyev announced plans to design a new refinery in the country, Kazinform News Agency reports.

“In view of the anticipated shortage of light petroleum products in 2036, it is imperative to commence the design of a new refinery with a capacity of 10 million tons per year, with construction to commence no later than 2030 and to be completed by 2032,” Minister Satkaliyev said.

The ministry indicated the demand for diesel fuel is projected to increase by an additional 2 million tons per year between 2030 and 2036. This is anticipated to result in a deficit of 0.2 million tons, which is expected to grow by 0.3-0.35 million tons annually until 2050.

According to Satkaliyev, the construction of the new refinery will cover the country's fuel and lubricant demands from 2040 to 2050. Furthermore, he suggests that the refinery will facilitate the export of fuel and lubricants to the rapidly expanding markets of Central, South and South-West Asia.

Earlier, the Ministry of Energy explained the reasons for the oil production decline this year.