BAKU, Azerbaijan, April 23. Over the next five
years, Kazakhstan plans to attract about $15 billion in investments
into its oil refining sector, said Asylbek Dzhakiev, Chairman of
the PetroCouncil of Kazakhstan, during the 2nd Forum on Logistics
and Oil Trade in the Caspian and Central Asian Regions in Baku,
Trend reports.
"Among these projects is a polyethylene production project worth
$7.6 billion, with a planned output of 1.2 million tons per year,
as well as a butadiene production project worth $1.1 billion, with
a planned output of 900,000 tons," Dzhakiev noted.
According to him, the strategic issue lies in how to deliver
this petrochemical product to global markets.
"From this perspective, the northern route may remain limited
for the next 5-10 years, which increases the importance of
alternative corridors," he said.
Among the priority export destinations, Dzhakiev highlighted
China, considering the participation of Chinese state companies in
funding the projects, as well as Azerbaijan via the Caspian Sea and
the Middle Corridor.
"It is expected that these routes will become key for the future
export of Kazakhstan’s petrochemical products," he added.
