Kazakhstan aims to boost its petrochemical output

Kazakhstan’s cabinet has approved a roadmap for the petrochemical industry, developed by the Ministry of Energy. The plan aims to boost the sector’s output to 1.8 million tons by 2030, a fivefold increase compared to the 2023 level.

«The Ministry of Energy has drafted a roadmap for the oil and gas chemical industry covering 2024 to 2030. This roadmap outlines measures ranging from securing raw materials to producing finished products. Its primary goal is to advance the petrochemical industry and facilitate project implementation within this sector. The aim is to boost petrochemical production from 357,800 tons in 2023 to 1.8 million tons by 2030,» the published report stated.

The roadmap implies ensuring that all ongoing and new projects in the oil and gas industry have access to necessary raw materials. Specifically, authorities are considering the launch of six projects, which may create 3,500 permanent jobs and require a total investment of $14.6 billion. Additionally, the roadmap outlines the construction of essential infrastructure for petrochemical projects in the National Industrial Petrochemical Technopark Special Economic Zone (SEZ) in the Atyrau region.

The SEZ was established in 2007 and will operate until 2032. Its primary goal is to develop and implement groundbreaking investment projects aimed at creating world-class oil and gas chemical production facilities. This includes advanced processing of hydrocarbons and production of a wide range of competitive petrochemical products with high added value.

The roadmap focuses on improving market access, enhancing research and development capabilities, investing in human capital and implementing necessary regulations to support the growth of the petrochemical sector. By taking these steps, Kazakhstan hopes to increase the domestic demand for its oil and gas-derived products.