Tengizchevroil intends to increase price of gas for Atyrau region

Department of the Agency of the Republic of Kazakhstan on Regulation of Natural Monopolies of Atyrau region has received a petition from "Zhylyoygaz" Ltd. about intention of "Tengizchevroil" to increase the selling price of natural gas in 2014-2015, inform.kz reports.

The current price is equal to 3,960 tenge per 1,000 cubic meters. The TCO plans to make gas price for 2014 up to 4059 tenge per 1,000 cubic meters (an increase of 2.5%). In 2015 it will be 4160 tenge for 1000 cubic meters (an increase of 2.5%).

As reported by the antitrust department "Tengizchevroil " is the subject of the market having the dominant (monopolistic) position in the market for the supply of natural gas.

"Therefore, in accordance with the Law of the Republic of Kazakhstan "On Natural Monopolies and Regulated Markets" and "Rules of pricing in regulated markets" the TCO is to justify the change in price, and after analyzing the prices to get a reasoned opinion concerning the growth of price on natural gas in the Agency of the Republic of Kazakhstan on Regulation of Natural monopolies", says the department.