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, TurkicWorld 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.
