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Kazakhstan Ministry of Energy

Kazakhstan Ministry of Energy Releases Forecast Gas Balance Until 2030, Projects Growth in Gas Production

Astana, April 26, 2024, The Europe Today: The Ministry of Energy of Kazakhstan, in collaboration with JSC NC “QazaqGaz,” has unveiled a comprehensive forecast gas balance extending until 2030, offering insights into the trajectory of the nation’s gas sector.

Key findings of the forecast highlight the pivotal role played by major projects such as Tengiz (27%), Karachaganak (38%), and Kashagan (20%) in shaping Kazakhstan’s gas landscape, collectively contributing over 85% of the country’s gas production.

The report underscores a notable upward trend in gas production in Kazakhstan in recent years, reflective of the burgeoning development within the country’s gas industry. Projections outlined in the forecast indicate a surge in gas production, with expectations set at 60.456 billion m3 for the year 2024.

Crucially, the forecast delineates a targeted plan for marketable gas production, earmarking 28.054 billion m3 for 2024. Concurrently, domestic consumption within Kazakhstan is forecasted to reach 20.9 billion m3 in the same year, aligning with the projected balance.

In retrospect, the gas production figures for 2023 stood at 59.063 billion m3, underlining the sector’s steady growth trajectory leading up to the current forecast.

The unveiling of the forecast gas balance underscores Kazakhstan’s strategic commitment to fostering sustainable growth and development within its energy sector. By leveraging key projects and capitalizing on market opportunities, Kazakhstan aims to consolidate its position as a significant player in the global gas arena.

As Kazakhstan charts its course towards achieving energy security and fostering economic prosperity, the forecast gas balance serves as a roadmap, guiding policy decisions and investment strategies to unlock the full potential of the country’s abundant gas resources.