On February 16, 2024, the city of Atyrau hosted the industry forum PetroPolymers & PetroChemicals-2024, which brought together representatives of government and quasi-government bodies, oil and gas companies, international organizations, and experts in the field of petrochemicals. The event became a key platform for dialogue on strategies to expand the local content in petrochemical projects and to support the polymer processing industry.
During the forum, Mr. D. Diyanov, Deputy Chairman of the Management Board of KMG PetroChem LLP, shared the results of the company's work for 2023, as well as presented the key development areas of projects for the current year. The speaker emphasized Kazakhstan's significant prospects in the petrochemical and gas chemical industry, highlighting the importance of creating products with high-added value and expanding export potential.
The Polyethylene project has attracted strategic partners, and in 2024, it is planned to finalize the design stage. Based on its results, a Final Investment Decision (FID) is expected to be made by the Project Participants. KMG PetroChem LLP is implementing the project on the Construction of a Gas Separation Complex to provide the project with the required feedstock (1.6 million tons of Ethane per year). At the moment, agreements have been reached with TCO on key aspects of cooperation. All project design works are expected to be completed this year, whereafter, FID on this project will be made.
Last year was also marked by the expansion of the company's portfolio with the inclusion of such promising projects as PTA/PET and Urea. If an investment decision is made, the PTA/PET project is planned to be implemented based on the global advanced environmental practices, including potential PET recycling.
«The implementation of our projects contributes not only to economic growth but also to the creation of new jobs, development of Kazakhstan and its regions, and improvement of the living standards of the population,» emphasized D. Diyanov, expressing support for the policy of the Ministry of Energy to initiate a comprehensive plan for the development of the petrochemical industry in Kazakhstan and to improve legislation, including development of the Law of RoK on Petrochemical and Gas Chemical Industry.
The PetroPolymers & PetroChemicals-2024 Forum has become a key event for the industry, setting trends for future development and laying the foundation for continued cooperation between all stakeholders in the petrochemical and gas chemical sector of Kazakhstan.