At the CERAWeek international energy conference, Kazakhstan's Energy Minister, Yerlan Akkenzhenov, participated in the session "Global Oil Market Forecast: Fundamental Factors and Geopolitical Turbulence," Kazinform reports, citing the Kazakh Ministry of Energy.
Akkenzhenov presented the current state of Kazakhstan's oil industry. It was emphasized that the country maintains its position as a reliable energy supplier to the global market.
The Kazakh Minister outlined the key challenges facing the industry. These include energy security issues, including the stable operation of the Caspian Pipeline Consortium (CPC), through which the bulk of Kazakhstan's oil is exported.
The importance of ensuring the uninterrupted operation of this route, which is critical to the national economy, was noted.
At the same time, Kazakhstan is consistently pursuing a policy of diversifying export routes, including developing routes to the People's Republic of China. The CPC remains the most cost-effective and priority oil transportation channel.
The speech focused on improving the investment climate in the oil and gas industry. The minister noted the implementation of the Improved Model Contract, which provides tax incentives and is aimed at attracting new investment in hydrocarbon exploration and production.
Strategic plans for the development of the petrochemical industry were also outlined. Kazakhstan intends to double its oil refining capacity, which will not only satisfy the domestic market but also strengthen the country's position as a supplier of petroleum products in the Central Asian region.
Kazakhstan's participation in CERAWeek confirms the country's commitment to active dialogue with the international energy community and the promotion of balanced policies in the face of global challenges and geopolitical turbulence, the ministry noted.
CentralasianLIGHT.org
March 25, 2026