Kazakhstan to be main source of growth in oil production in Eurasia in next 10 years

Kazakhstan, Astana, April 25 / Trend, D. Mukhtarov / Kazakhstan will be the main source of growth in oil production in Eurasia in the next 10 years, IHS CERA Senior Director Mathew Sagers said in Astana on Wednesday. "In the future, Kazakhstan will be the main source of growth in oil production in Eurasia, and in the next 10 years - not only in Eurasia, but in the world," Sagers said during a roundtable "Energy of Caspian countries". He said despite the fact that in 2011 there was a decline in oil production in the Caspian Sea, its increase is expected in the future. According to Sagers, Kazakhstan will remain the main source of growth in oil exports among Eurasian countries, especially in western directions. "For Russia the main direction of expanded exports will be the eastern direction, that is, to China," he said. In addition, Sagers believes that one should expect a decline in world oil demand in the future, particularly in Europe, while a major growth in demand will be observed in Asian countries. Do you have any feedback? Contact our journalist at agency@trend.az