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Kazakhstan should develop oil and gas transport infrastructure: IEA Executive Director

21 january 2014, 13:48
0
©Reuters
©Reuters
Executive Director of the International Energy Agency (IEA) Maria van der Hoeven has declared at the extend meeting of KazEnergy Association Board that Kazakhstan had to develop oil and gas transport infrastructure and take a hard stance on pricing issues in the region, Tengrinews reports citing the press-service of KazEnergy.

Van der Hoeven believes that Kazakhstan has a great potential for development of alternative energy sources and subsequent transition to a more sustainable energy. The EXPO exhibition to be held in Kazakhstan in 2017 will stimulate development of the more sustainable energy future of the region.

The IEA Executive Director expects the global oil consumption to grown by 2035 as well as oil price. "Surge of oil consumption will drive the actual price per barrel to around $130 in 2035. But this does not mean that oil will remain the only source of fuel for transport. There are some alternatives, for diesel fuel to; these alternatives are the cornerstones, especially with natural gas and diesel fuel becoming more available. Change in demand and consumption are causing problems for the processing sector. In the context of supplies, the growth of prices affects the consumers in the first place. We witness energy sources like natural gas and synthetic petrol emerge," Maria van der Hoeven said.

According to her, build up of oil processing capacities is lagging behind the consumption growth. Most of the capacities are concentrated in Europe, the United States and Japan, where as consumption is growing in the developing countries that have few or now processing capacities in place, so these countries are constructing oil refineries. "We expect that China will be responsible for a large share of the newly constructed processing capacities, and the new refineries will be constructed by 2025. The Middle East will also increase processing of oil for both local consumption and export," the expert said.

Van der Hoeven believes the role of fossil fuels will remain high in the global structure of energy products. The speaker pointed out that the part of fossil fuels in the global structure exceeded 80%, same as 25 years ago. Their share might go down to 75% by 2035, provided that renewable energy sources development with maintain a stable growth. "Fossil fuels still will cover the most part of the global energy demand, with all the usual consequences for environment and climate," she said.

She stressed that the world's energy map was transforming: the centers of consumption were steadily moving to Asia. "New geography of supply and demand will lead to transition of the main oil trade flows to the Asian region. This will affect the oil geopolitics and call for more collective measures to ensure security of oil supplies," she said.

The International Energy Agency (IEA) is a Paris-based autonomous intergovernmental organization established in the framework of the Organisation for Economic Co-operation and Development (OECD) in the wake of the 1973 oil crisis. The IEA was initially dedicated to responding to physical disruptions in the supply of oil, as well as serving as an information source on statistics about the international oil market and other energy sectors.

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