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Implementation of most of the current oil and gas projects will bring Kazakhstan into the top five oil producers: Timur Kulibayev

26 may 2011, 12:16
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Timur Kulibayev. ©Yaroslav Radlovsky
Timur Kulibayev. ©Yaroslav Radlovsky
Kazakhstan can be one of the biggest oil suppliers, Timur Kulibayev, Chairman of the Managing Board of Samruk-Kazyna and Chairman of the KAZENERGY private association of oil and gas players, believes.

“Before the end of this decade the annual volume of oil and gas supplies from the CIS to the global markets can grow 1.5 times – from the current 358 million tons and 237 billion cubic meters of gas in 2010 – should all the oil and gas projects are implemented as planned (…) CIS countries plan to launch at least two oil pipelines westwards and to expand capacities of 2 pipelines already in operation. The volume is to be increased a few times eastwards using the current infrastructure”, Kulibayev said when speaking at the XI CIS oil and gas summit in Paris May 25.

“Implementation of most part of the oil and gas projects will bring Kazakhstan into the top five oil exporters, with CIS being second only to the Persian Gulf. Investments opportunities in the latter are limited, whereas CIS nations actively involve foreign companies in development of resources”, Kulibayev said.

When talking of new trends at the energy markets, he pointed out “the growing role of the CIS in the Eurasian energy market; strengthened partnership among the CIS nations with regards to hydrocarbon exports; wide selection of partners within the CIS to facilitate exports-related aspirations and plans”.

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