Kazakhstan to raise wholesale gas prices 33% in JulyKazakhstan will raise wholesale prices for commercial gas by 33% starting July 1 to attract investment into the country's gas sector, Deputy Prime Minister and Minister of National Economy Serik Zhumangarin said Friday.Zhumangarin told reporters on the sidelines of a joint session of parliament that the current wholesale price is too low to encourage private companies to explore or develop new gas fields."At current wholesale prices, private companies are not moving into gas development — it is simply unprofitable for them," Zhumangarin said.The energy council approved the increase, which takes effect July 1. Zhumangarin said the move would add about 0.16% to inflation, or within two-tenths of a percentage point."It will not have a major impact on inflation," he said, adding that the increase applies only to wholesale commercial gas.Without higher prices, Zhumangarin warned, Kazakhstan may be forced to import more gas at steeper costs."Either gas will become more expensive for other reasons, because we will have to import it, and the countries that export gas to us will not be lenient," he said.The government is also considering raising railroad service tariffs. Zhumangarin said an initial increase of up to 12% is under discussion, which could add 0.8% to inflation. However, he said officials are leaning toward a smaller increase of 0.3% to 0.5% this year.The Energy Ministry previously proposed raising wholesale gas prices over three years starting July 1, 2025. Wholesale price caps on commercial gas have risen about 33% annually in Kazakhstan. (ICE ALMATY)

Fonte notizia: INTERFAX