ASTANA: Kazakhstan’s economy continued to grow in the Q1 of 2026 despite constraints linked to attacks on the Caspian Pipeline Consortium (...
ASTANA: Kazakhstan’s economy continued to grow in the Q1 of 2026 despite constraints linked to attacks on the Caspian Pipeline Consortium (CPC) and an incident involving Tengizchevroil, with GDP expanding by 3% on the back of growth in several sectors, according to data presented by a Kazakh government delegation at a roundtable held in Washington at the World Bank headquarters.
"It was noted that the country’s economy is demonstrating steady momentum. In recent years, annual GDP growth has consistently exceeded 5%, reaching 6.5% in 2025. <…> Growth is continuing in 2026. Despite a temporary decline in oil production due to the incident at TCO (Tengizchevroil) and constraints related to the CPC, the economy continued to expand: in the first quarter, GDP grew by 3%, driven by manufacturing (8.5%), transport (12.8%), and construction (14.8%)," the Kazakh government’s press service said.
Previously, Kazakhstan’s Energy Minister Yerlan Akkenzhenov said at a cabinet meeting that the decline in the oil and gas sector in the first quarter was linked to the situation at the CPC and Tengiz. According to him, in January-March, oil and gas condensate production totaled 19.7 mln tons, or 80.2% of the level recorded in the same period last year. Oil exports over the three months amounted to 15.3 mln tons, or 78.5% year-on-year.
Ukrainian drone strikes on CPC facilities in Russia - through which Kazakhstan exports most of its oil to global markets - were carried out several times in 2025. In November last year, drones targeted offshore loading terminals at CPC facilities, and in January this year, tankers near CPC infrastructure chartered to transport Kazakh oil were attacked.
On January 18, oil and gas company KazMunayGas reported a fire involving two transformers at a gas turbine power plant at a Tengizchevroil facility in the Atyrau Region. On January 19, Tengizchevroil announced a temporary suspension of production at the Tengiz and Korolevskoye fields, and on January 26 said that the process of resuming output had begun. Oil production at the field has since been restored.
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