Baku, Azerbaijan, April 25
By Ali Mustafayev – Trend:
The Ministry of Energy of Kazakhstan found a private investor, willing to participate in the construction of the fourth oil refinery in the country, Energy Minister of Kazakhstan Kanat Bozumbaev said at a press conference on April 25.
"The next important event in the oil and gas industry of Kazakhstan is the construction of a new refinery. On behalf of the head of state, we established a working group to develop a feasibility study. The feasibility study is expected to determine the location and parameters of the plant in the second half of 2018. Presently, we negotiate with private companies, considering financing issues," said Bozumbaev.
In February 2018, at an extended government meeting, Kazakh President Nursultan Nazarbayev instructed Energy Minister Kanat Bozumbayev to accelerate the decision to build a fourth oil refinery.
Previously, Bozumbayev also said that the construction of the fourth oil refinery in Kazakhstan may start in 2019.
The modernization of the three largest refineries in Kazakhstan (Atyrau, Shymkent and Pavlodar) is almost complete. However, despite the expected increase in the production of petroleum products, the deficit for oil products in Kazakhstan may resume, starting from 2022-2023.
