BAKU, Azerbaijan, Dec. 24
By Nargiz Sadikhova – Trend:
Ceiling wholesale prices for liquefied petroleum gas (LPG) will remain at the current level in 1Q2021 in Kazakhstan, Trend reports citing Kazakhstan’s Ministry of Energy.
The ceiling price of LPG for the supplies to the local market is approved by the Ministry of Energy in coordination with the Ministry of National Economy on a quarterly basis, and is valid throughout the territory of Kazakhstan.
The procedure for setting the maximum price is regulated by the Rules for determining the maximum prices for wholesale sales of commercial gas in the domestic market of Kazakhstan and the maximum prices for liquefied petroleum gas sold as part of the plan for the supply of liquefied petroleum gas to the domestic market outside electronic trading platforms.
In accordance with these rules, the price limit was set at 38,701.67 tenge ($92 based on the current USD\KTZ exchange rate) per ton, excluding VAT, which corresponds to the price set for 4Q2020.
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.
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.
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