Kazakhstan to produce 80bn cubic meters of gas by 2027

NUR-SULTAN. KAZINFORM Gas output in Kazakhstan will reach 80bn cubic meters by 2027, Prime Minister Askar Mamin said welcoming the participants of the KAZENERGY Forum in Nur-Sultan, Kazinform correspondent reports.

According to the PM, Kazakhstan produces 90mn tonnes of oil per year, which makes the country one of the leading oil and gas producers in the region. «The production of energy resources became the major factor for further development of petrochemical, oil processing industries. The range of products fully covers our domestic demand. The market expands and we expect, that in 2019 we will produce 51bn cubic meters of gas. By 2027, the annual gas production will reach 80bn cubic meters,» said Mamin.

In his words, Kazakhstan expects significant changes in oil and gas sector.

«In 2018, production of polyethylene and polypropylene significantly increased in Kazakhstan. Consumption of traditional mineral fuel rises as well. We have enough reserves to cover the future demand. In order to ensure long-term output, we constantly revise and improve our policy on attraction of private investments. We inserted amendments to the legislation on subsoil use, on renewable energy sources and green energy. We hope to become a global leader in oil extraction,» he concluded.