BMI View: We expect demand growth in Kazakhstan to remain healthy, due to the country’s ongoing and robust economic expansion (we forecast real GDP growth of 5.8% in Kazakhstan 2013). Conventional thermal sources remain the main focus for new generating capacity, with gas playing the central role due to the country’s significant domestic resources. At the same time, the government’s plan to reduce energy consumption in the country over the next few years should slightly ease pressures on generating capacity in the future. While Asian influence is growing in the Kazakh energy sector, we believe Russia could emerge as the …
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