Liquefied gas prices on Uzbek commodity exchange reach record levels

Oil&Gas Materials 20 October 2011 13:16 (UTC +04:00)

Uzbekistan, Tashkent, Oct. 20 / Trend D. Azizov /

The average prices of liquefied natural gas on the stock exchanges of the Uzbek Republican Commodity Exchange exceeded 2.5 million at the beginning of this week, the analytical service of the exchange told Trend.

According to the exchange analysts, the rate was the highest quotation since January 2011. The average price per ton of liquefied gas was 920,000 soums.

According the Uzbek Republican Commodity Exchange, the average price on liquefied gas increased by three times. The principal reason is down to low supply volume hitting 12,000 tons in September 2011, which is 58 per cent less than in August. The average monthly sales volume remained at 19,000 tons before May 2011.

In particular, the largest liquefied gas producer in Uzbekistan, Shurtan Gas and Chemical Combine reduced sales volumes by almost 40 per cent. During September this year, sales volumes totaled 4700 tons in September against 8600 tons the previous month.

Other big sellers of liquefied natural gas, Shurtanneftegas and Shortan Gaz Mahsulot JV have been showing stability by putting these products on stock trades of the Uzbek Republican Commodity Exchange since early 2011.
As of 2010, the total supply of liquefied gas (propane-butane) on the stock exchange of the Uzbek Republican Commodity Exchange increased from 195,000 tons to 233,000 tons.

It was reported that at present, the National Holding Company Uzbekneftegaz implements several projects within the program to increase liquefied gas production.

In particular, the gas fractionation modernisation projects in the Fergana refinery and Bukhara refinery, associated gas utilisation project at the Kokdumalak field, liquefied gas production modernization at the Mubarek gas processing plant and Shurtanneftegas are planned to be implemented within the program.

The projects will be financed by Uzbekneftegaz's own funds and foreign

investments worth up to $320 million.

The programme will increase liquefied gas production by 2.8 times to 586,900 tons by 2013.