Kazakhstan to work out its own petrochemicals dev't program till 2025

Oil&Gas Materials 2 February 2021 14:46 (UTC +04:00)

BAKU, Azerbaijan, Feb. 2

By Nargiz Sadikhova – Trend:

A national project for the development of petrochemicals until 2025 is to be developed in Kazakhstan, Kazakhstan’s Minister of Energy Nurlan Nogayev said, Trend reports citing Kazakh media.

“The head of state has set the task to take measures to accelerate the ongoing oil, gas, and chemical production, as well as create attractive conditions for potential investors," Nogayev said.

Nagoyev noted that thus the national project for the development of petrochemicals until 2025 is to be prepared, which will allow the industry to develop point-wise with an emphasis on solving relevant issues and fully using its potential.

Overall, there are plans to provide petrochemical projects with raw materials, create a cluster of petrochemical ventures

"There are plans to provide for a separate agreement signed between the Government and the investor, taking into account the investor’s needs. The agreement would include not only oil and gas chemical but also hydrocarbon projects. Currently, this issue is being worked out, and in the near future will be submitted for the government’s consideration," Nogayev said.

These measures, Nogayev said, will provide for the construction of five plants before 2025.

"Expected effect is that the production volume will increase by nine times, the projected effect on the country's economy will be additional 1.2 percent of growth. Thus, the production of basic petrochemical products will serve as a solid basis for the development of deep processing in the oil and gas sector, which is in line with our strategy to diversify the raw material economy and aims for technological development," Nogayev said.


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