KAZENERGY Association presented the II issue of the National Energy Report

An updated National Energy Report was presented at the X KAZENERGY Eurasian Forum. In recent years the world energy picture has changed considerably.

The export markets, routes, etc. were reoriented. Since the previous Report of 2013, the world has undergone significant geopolitical and economic changes which significantly affected the economy and the energy sector of Kazakhstan. First of all, the question is about collapse in oil prices caused by excess supply, which marked the completion of the “raw materials supercycle” of the 2000s.

According to developers of the Report – the International Analytical Agency IHSCERA, in 2016 prices for crude oil will rise at an average up to 63 dollars per barrel and by 2020 – up to about 80 dollars per barrel. Prior to 2035 it is expected that the growth in demand for primary energy resources in the world will be at an average 1.3% per year and will amount from 90 to 115 million barrels per day. The aggregate volume of crude oil production in Kazakhstan will increase from 80.8 million tons (1.7 million barrels per day) in 2014 to 95.4 million tons (2.0 million barrels per day) in 2020. Europe will remain to be an important market for export of crude oil from Kazakhstan due to reduced production of its own oil in the European countries.

The National Energy Report forms a comprehensive picture of the current condition and prospects of development of fuel and energy complex of Kazakhstan. It reflects the strategic view of KAZENERGY Association on sustainable development of oil and gas and energy industries of the Republic of Kazakhstan as a single system.

Daniel Yergin, reputable energy expert, Vice Chairman of HIS, Pulitzer Prize Laureate presented a review of the National Energy Report as part of the KAZENERGY Forum.

More information about the Forum program can be found here: http://kazenergyforum.com/

Press Service of KAZENERGY Association

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