New Oil Refinery in Kazakhstan: Construction Should Begin in 8 Years

Minister of Energy Almasadam Satkaliyev spoke about plans to design and construct a new oil refinery, Orda.kz reports.

The Minister spoke at government hour in the Majilis.

In connection with the expected shortage of light oil products in 2036, it is necessary to begin designing a new oil refinery with a capacity of 10 million tons per year, but no later than 2030. Construction (is planned to begin. - Ed.) in 2032, said Almasadam Satkaliyev.

Satkaliyev said Kazakhstan's need for fuel will increase by an additional two million tons of diesel fuel per year from 2030 to 2036. This will lead to a deficit of 0.2 million tons, increasing annually by 0.3-0.35 million tons until 2050. 

In the period 2028-2030, it is necessary to constantly update the production-consumption balances due to possible imports of fuels and lubricants in 2036-2040. The construction of a new oil refinery will cover the country's needs for fuels and lubricants from 2040 to 2050 and will allow fuels and lubricants to be exported to the rapidly developing markets of Central, South, and Southwest Asia, the Minister added.

Speaking in the Majilis, the head of the Ministry of Energy also said that the ministry plans to collect 14 billion tenge from subsoil users.

Original Author: Zhadra Zhulmukhametova