Kazakhstan plans to increase the combined capacity of its three existing oil refineries from 18 million to 27.7 million tons as part of a modernization program aimed at boosting fuel production and improving its quality to the K5 standard, Energy Minister Yerlan Akkenzhenov said at a Government press conference, Qazinform News Agency reports.
According to the minister, Kazakhstan adopted a new oil refining development concept this year, which includes plans to expand the capacity of its three existing refineries. Akkenzhenov also said the Government is considering building a medium-scale oil refinery in Aktobe region, with an annual processing capacity of 2 million tons.
The proposed facility would serve both the domestic market and neighboring Central Asian countries, helping increase supplies of motor fuels and other petroleum products. The project is expected to take around two years to complete. The minister noted that the project would help address existing supply disruptions and enable Kazakhstan, as an oil-producing country, to supply more fuel to neighboring states.
Once completed, the refinery is expected to boost production of both motor and aviation fuel. Plans for another oil refinery are also under consideration, with its capacity to be added separately to the projected 27.7 million tons. Akkenzhenov said potential sites are currently being assessed, with a decision on the project expected soon.
Earlier, Qazinform News Agency reported that Kazakhstan plans to bring 13.3 gigawatts of new power generation capacity online by 2029.