Kazakhstan to raise wholesale gas prices by 34% for businesses and cryptocurrency minersThe average wholesale price of commercial gas for large businesses and cryptocurrency miners in Kazakhstan will increase by 34% to 63,498 tenge excluding VAT starting July 1, according to an order signed by Energy Minister Yerlan Akkenzhenov on May 21, 2025.The order will be in effect until June 30, 2026.In the Almaty city and the Almaty region, the maximum wholesale gas price will rise by 20% to 76,686 tenge excluding VAT. In the city of Astana, prices will jump by 40% to 72,846 tenge, while Shymkent will see a 20% increase to 71,122 tenge.Households will also face higher gas costs, with the average wholesale price rising by 33% to 31,449 tenge excluding VAT. Almaty residents will pay 31% more (9,044 tenge), Astana residents 34% more (39,979 tenge), and Shymkent residents 31% more (38,349 tenge).The Energy Ministry attributed the hike to "objective factors," stating that current wholesale prices, set years ago, no longer reflect economic realities."Existing wholesale prices are below production costs and fail to cover necessary expenses for production, transportation and, which is very critically, modernization and development of gas infrastructure," the ministry’s press service said in a statement.Chronic underfunding has created systemic risks, jeopardizing the reliability of the gas transport system and delaying its upgrade, the ministry said."Current pricing also lacks sufficient economic incentives for investment in exploration and development of new domestic gas fields, which is key to strengthening Kazakhstan’s energy independence," the statement says.Given the social sensitivity of gas pricing, the government opted for a phased approach, emphasizing that the changes apply only to wholesale rates."The tariffs for households are set separately, in strict compliance with legislation, and approved by authorized agencies, with due consideration of all cost components. Special attention will be given to protecting socially vulnerable groups," the ministry said.State-run company QazaqGaz, which manages Kazakhstan’s gas pipeline network, earlier urged the government to gradually raise domestic wholesale prices, citing annual losses of 200 billion tenge. The company said the current average wholesale price (22,037 tenge per 1,000 m³) falls short of its production costs (33,742 tenge).Former Energy Minister Almasadam Satkaliyev had previously signaled a mid-2025 gas price adjustment. The ministry has also drafted amendments to revise price caps for commercial and liquefied petroleum gas, allowing annual wholesale adjustments of 20% to 33% on average nationwide. (ICE ALMATY)

Fonte notizia: INTERFAX