BAKU, Azerbaijan, Nov.25
Trend:
Kazakhstan’s Ministry of Energy will gradually increase the volume of liquefied petroleum gas (LPG) traded on electronic platforms in accordance with the instructions given by the country’s President Kassym-Jomart Tokayev, the ministry’s head Nurlan Nogayev said at a briefing of the Central Communications Service, Trend reports.
Nogayev said that in 2021 it’s planned to put up all of the produced LPG at an electronic auction.
"Presently, the country produces 3.2 million tons of LPG. Of these, 1.5 million tons are designed for the domestic market, 80 percent of which are for refueling gas-operated cars, and 20 percent for household needs and petrochemical industry projects. Some 25 percent of the products will be auctioned, and the rest will be distributed to the regions according to the bidding submitted by the regional administrations," he noted.
Since 2020, electronic auctions were launched to grant subsoil use rights for hydrocarbons.
"Acceptance of the bidding for the electronic auction was announced on September 1, and the results will be summed up on December 23 this year. Ten LPG deposits were put up at the electronic auction. This will ensure transparency and the flow of investments in the industry. The number of documents required to participate in the electronic auction has been reduced by 3 times. Bonuses and budget revenues will increase from investors," the minister added.