Azernews.Az

Friday March 29 2024

Kazakhstan to consider new refinery project soon

30 January 2014 12:57 (UTC+04:00)
Kazakhstan to consider new refinery project soon

The Kazakh Oil and Gas Ministry jointly with KazMunaiGas will develop issues relating to the construction of a new refinery in the country in the first quarter of 2014, Minister Uzakbai Karabalin said at the ministry's expanded meeting.

The issues will cover the capacity of the new refinery, its location, resource base, and investment volume and construction schedule, according to the minister.

"The process of modernization of the three refineries to be completed in 2016, is to be able to address a number of issues including those related to the technical level, but the volumes of domestic demand could exceed the capacity of our operating plants," Karabalin said.

One of the specific issues of the project is the raw material base, according to the minister.

"In connection with the topicality of the task both for the operating refineries and the prospective ones, we propose to consider the following attitude such as providing new rights for subsoil use under the conditions of priority supplies of raw material to the domestic market. In addition, we propose to consider the possibility of supply to the domestic market for existing oil producers while minimising losses," Karabalin said.

Thus, Kazakhstan will be able to develop a resource base not only for oil processing, but also for petro chemistry and gas chemistry.

Loading...
Latest See more