Electronic Exchange For Petroleum Products’ Sale To Be Created In Kazakhstan

Electronic Exchange For Petroleum Products' Sale To Be Created In Kazakhstan

An electronic exchange for sale of petroleum products will be created in Kazakhstan, said Kanat Bozumbayev, Minister of Energy of Kazakhstan.

“We plan petroleum products’ sale through an electronic trade ground in the near future. We will start with liquefied gas sale,” he said at the collegiums of the Ministry.

He said appropriate amendments are planned to be brought in the legislation until the end of the year.
“Until the end of the year we plan to update the legislation. Since 2018 we will be raising gas volume sold through the electronic ground every six months. Electronic exchanges. We plan to adopt appropriate amendment until the end of 2017, since 2018 we will launch the mechanism,” he added.

He explained the reason of liquefied gas sale through the electronic trade grounds.

“It is one of the directions where price differs 5-7 times at the domestic market for example in Central Asia and Russia. It is clear that there are questions on the internal markets from time to time, shade export grows up. Jointly with the committee of state revenues we are combating it now,” he said.

He added liquefied gas market most of all needs legalization.

Share