Kazakhstan Considers Oil Refinery to Support Kashagan Project

Kazakhstan is considering the construction of the country’s fourth oil refinery within the framework of the Kashagan development in the Caspian Sea, Prime Minister Karim Massimov said.

“We are returning to the issue of building a fourth refinery in Kazakhstan so that we can be 100 percent sure that we will be physically independent in energy terms,” Massimov said today in an address to parliament in the capital, Astana.

The Kashagan field, one of the world’s largest, is expected to begin producing in 2013, Deputy Oil Minister Lyazzat Kiinov said in December, before he was appointed as head of KazMunaiGaz National Co. The company will raise $4 billion from the country’s National Oil Fund through bond sales to develop the field, President Nursultan Nazarbayev’s press office said today.
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