KazTransGaz (KTG), the national company in the sphere of gas supply, incurs losses because of the formed exchange difference between purchase prices and the prices at the gas realization.
According to the press service of KTG, the agreement on the purchase of commodity gas at «Tengizchevroil» was concluded at a rate of 185 tenges for a dollar which wasn't fixed yet.
«According to the law «About Gas and Gas Supply» of KTG enables the wholesale realization of gas to KazTransGazAymak which, realizes it to retail consumers.
«The problem is that the price of commodity gas which is bought from Tengizchevroil LLP, is recorded in US dollars, and on the internal market comes to tenge. It should be noted that the price of wholesale realization is annually approved by authorized body represented by the Ministry of Energy, and retail price for commodity gas is regulated by Committee on the regulation of natural monopolies and protection of the competition. KTG has no opportunity to regulate price policy,» noted in the press letter.
Buying gas in dollars and selling in tenge in the internal market, the national operator annually should subsidize the cost of natural gas for the population at the expense of own finance.