BAKU, Azerbaijan, March 5
Trend:
It is planned to sell gasoline and bitumen through commodity exchanges in Kazakhstan starting this year, Minister of Energy of Kazakhstan, Nurlan Nogayev, said, Trend reports citing the ministry.
As part of the message of the country’s president, an order was given to restore order and improve exchange trade on oil products and the electricity sphere, as well as the development of competition policy, the minister noted.
“So, since March of this year, it is planned to sell gasoline and bitumen through commodity exchanges, while the volume of gasoline sales will be determined in accordance with monthly supply plans approved by the ministry,” Nogayev said at the expanded board of the Ministry of Energy.
The Kazakh energy minister added that it is planned to start selling diesel fuel and kerosene through commodity exchanges from the third quarter of 2021.
Besides, by late 2021, the full transition of the sale of liquefied petroleum gas through electronic trading platforms will be carried out, he added.
“This will make the industry more transparent and competitive. Also, in order to reduce administrative barriers for business, the institute of accreditation of gas network organizations will be canceled,” added Nogayev.