Baku, Azerbaijan, Dec. 26
By Ali Mustafayev – Trend:
In 11 months of 2017, Kazakhstan produced more than 48 billion cubic meters of gas (bcm), which is 4 percent more than the entire amount of 2016.
The main driver of the growth is Atyrau region, which production level grew by one-third year-to-year, reaching almost 40 percent of all volumes in Kazakhstan, Energy Prom reported.
According to the results of 11 months, gas production in Kazakhstan amounted to 174.8 billion tenge in terms of value (10 percent more year on year), while in volume - 48.4 bcm (15 percent more year on year).
The production volumes over the 11 months of 2017 surpassed the total indicators of 2016 ( the country produced 46.7 bcm of gas last year - 2.6 percent more than in 2015).
The leader in terms of volume is Atyrau region - 18.9 bcm of gas (33.7 percent more year on year) There are such giants functioning in the region as, for example, Tengizchevroil, North Caspian Operating Company and so on.
The West Kazakhstan region ranks second in gas production with 18.6 bcm (7.4 percent more than in 2016). Among the largest enterprises, functioning in the region, there is Karachaganak Petroleum Operating.
In addition to boosting production, Kazakhstan is actively increasing gas exports. Previously, the KazTransGas JSC national operator signed a supply agreement with PetroChina International Company Limited.
The gas export started on October 15, 2017. Kazakhstan is expected to export 5 bcm of gas to China until October 2018. The resource base of gas for export to China is located in the west of Kazakhstan, and includes gas reserves from the underground gas storage facilities of JSC KazTransGas.
The Chinese border city of Khorgos is the final destination for Kazakh gas supply.
At the same time, according to Western experts, the Chinese gas market will expand annually by 20 percent, which is an investment opportunity for Kazakhstan. KazMunaiGas is already working to increase the capacity of the Beyneu-Bozoy-Shymkent gas pipeline from 10 to 15 bcm - this will increase exports to China from the current 5 bcm to 10 bcm/year.
(Exchange rate for 26.12.2017: $1 – 333 tenge)