Baku, Azerbaijan, Feb. 13
By Ali Mustafayev – Trend:
The plan on the construction of a new oil refinery in Kazakhstan will be presented on February 15, said the Minister of Energy of Kazakhstan Kanat Bozumbayev at a meeting of government.
The Energy Ministry established an expanded working group engaged in construction of the fourth oil refinery with participation of international experts, conducting an analysis of the situation.
"The working group came to the conclusion that increasing the production of fuels and lubricants after modernization of the existing refineries will cover the domestic demand only in the medium term," Bozumbaev said.
The minister added that, taking into account the forecasted growth in gasoline consumption, Kazakhstan will face a deficit of gasoline in 2018-2023, as well as aviation kerosene - after 2026. In this regard, potential investors of the project created a new working group to work out options for the construction of a new refinery and the financing and timing of construction.
"The working group will develop a corresponding roadmap, which we plan to submit for approval by the interdepartmental commission on February 15," Bozumbaev said.
On February 9, Kazakh President Nursultan Nazarbayev instructed Energy Minister Kanat Bozumbaev to accelerate work on construction of the fourth oil refinery in the country at an enlarged meeting of the government.