HISTORY OF THE ENERGY SECTOR DEVELOPMENT AND KAZAKHSTAN’S ENERGY POTENTIAL

Authors : Zhuldyz KANAPIYANOVA

Pages : 25-38

View : 23 | Download : 10

Publication Date : 2019-07-31

Article Type : Research Paper

Abstract :Kazakhstan has the largest oil resources in Central Asia mainly concentrated  in the Caspian Sea region. Revenues from oil exports is the primary  source of income for the state budget of Kazakhstan and essentially important  for the entire economy of Kazakhstan. Europe is the major market  for Kazakhstan’s crude oil. However, the fact that pipelines connecting  Kazakhstan and European consumers go through Russia and other  countries poses certain political and economic risks on Kazakhstan. In  this light, China appears to be an alternative for Kazakhstan’s oil exports.  The aim of the study is to examine Kazakhstan’s major energy deposits,  their capacities, oil and gas pipelines and projects, and to investigate the  energy policy within the framework of neoliberal theory. The results show  that Kazakhstan is pursuing an energy policy dependent on Russia and  seeks to strengthen cooperating with China. However, there are certain  pitfalls and obstacles that Kazakhstan needs to overcome.
Keywords : Kazakhstan, energy policies, pipelines, oil and gas resources, neoliberal theory