Kazakhstan’s Ministry of Energy forecasts shortage of gas within three years

Gas consumption in the country grew by 7% on average each year over the past five years

As Bolat Akchulakov, minister of energy said in the Mazhilis (the lower house of the parliament), the natural gas consumption in the country has been constantly growing – about 7% yearly on average.

Kazakhstan ranks 22nd by reserves of natural gas globally and third among CIS member states after Russia and Turkmenistan. These days, natural gas importance is bigger than ever both globally and domestically, the minister noted.

“Over the period from 2017 to 2021, the amount of gas consumed in the country rose by 4.8 billion cubic meters (from 13.8 to 18.6 billion cubic meters). The growth was by 35%, or 7% per year,” Akchulakov said.

The official believes that the restrictive policy Kazakhstan’s government used to prevent gas prices from surging is the main reason the industry isn’t developing as fast as it could otherwise. Because of this, the country can face a shortage of natural gas by 2025 and would be forced to buy gas abroad.

“Among key gas producers we have are Kashagan, KPO and Tengizchevroil. They account for 64% of all commercial gas produced in the country. I don’t think something is going to change here soon,” he said.

The global demand for gas is growing due to expectations of shortages in gas supply next winter. Many gas companies have tried to stockpile as many gas reserves as they could.

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