information:classification, linguistic:paraphrasing
Energy

Energy has been the leading economic sector. Production of crude oil and natural gas condensate from the oil and gas basins of Kazakhstan amounted to 79.2 million tonnes (77.9 million long tons; 87.3 million short tons) in 2012 up from 51.2 million tonnes (50.4 million long tons; 56.4 million short tons) in 2003. Kazakhstan raised oil and gas condensate exports to 44.3 million tons in 2003, 13 percent higher than in 2002. Gas production in Kazakhstan in 2003, amounted to 13.9 billion cubic metres (490 billion cubic feet), up 22.7 percent compared to 2002, including natural gas production of 7.3 billion cubic metres (260 billion cubic feet). Kazakhstan holds about 4 billion tonnes (3.9 billion long tons; 4.4 billion short tons) of proven recoverable oil reserves and 2,000 cubic kilometres (480 cubic miles) of gas. Kazakhstan is the 19th largest oil-producing nation in the world. Kazakhstan's oil exports in 2003, were valued at more than $7 billion, representing 65 percent of overall exports and 24 percent of the GDP. Major oil and gas fields and recoverable oil reserves are Tengiz with 7 billion barrels (1.1 billion cubic metres); Karachaganak with 8 billion barrels (1.3 billion cubic metres) and 1,350 cubic kilometres (320 cubic miles) of natural gas; and Kashagan with 7 to 9 billion barrels (1.4 billion cubic metres).

KazMunayGas (KMG), the national oil and gas company, was created in 2002 to represent the interests of the state in the oil and gas industry. The Tengiz Field was jointly developed in 1993 as a 40-year Tengizchevroil venture between Chevron Texaco (50 percent), US ExxonMobil (25 percent), KazMunayGas (20 percent), and LukArco (5 percent). The Karachaganak natural gas and gas condensate field is being developed by BG, Agip, ChevronTexaco, and Lukoil. Also Chinese oil companies are involved in Kazakhstan's oil industry.

Kazakhstan launched the Green Economy Plan in 2013. It committed Kazakhstan to meet 50 percent of its energy needs from alternative and renewable sources by 2050. The green economy was projected to increase GDP by 3 percent and create some 500,000 jobs. The government set prices for energy produced from renewable sources. The price of 1 kilowatt-hour for energy produced by wind power plants was set at 22.68 tenge ($0.12), for 1 kilowatt-hour produced by small hydro-power plants 16.71 tenges ($0.09), and from biogas plants 32.23 tenges ($0.18).