Kazakhstan Sees 50 Percent Oil Export Growth by 2020

Reuters reported that Kazakhstan has planned to raise annual crude exports to 110 million tonnes by 2020 from the 72 million tonnes forecast for 2012.

As quoted in the market news:

Kazakhstan, Central Asia’s largest economy, has more than trebled crude output over the past decade to become the second-biggest producer in the former Soviet Union after Russia. It produced 79.5 million tonnes of oil and gas condensate in 2010.

Sauat Mynbayev said Kazakhstan’s westward crude oil exports via an expanded Caspian Pipeline Consortium (CPC) would almost double by 2020. Shipments to China would also nearly double to 20 million tonnes from the 11 million tonnes forecast this year.”Raising capacity to 20 million tonnes is only a question of building extra pumping stations (along the China pipeline),” Mynbayev told the annual Kazenergy conference.

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