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ETS launches first tenders on liquefied petroleum gas within the framework of the Law “On Gas and Gas Supply”

ETS launches first tenders on liquefied petroleum gas within the framework of the Law “On Gas and Gas Supply”

Almaty

05.02.2019

 

For the first time in Kazakhstan, on February 5, 2019, liquefied petroleum gas (LPG) tenders were held in the dual anonymous anonymous auction (DVAA) at the site of the ETS Commodity Exchange as part of the implementation of changes and amendments to the Law of the Republic of Kazakhstan “On Gas and Gas Supply” of 09.01.2012, providing for the implementation of the LPG on the domestic market of Kazakhstan through electronic trading platforms.

During the preparation for the launch of trading in liquefied petroleum gas, about 500 employees were trained for three months – representatives of 13 manufacturing plants and suppliers of the LPG, as well as 76 gas network organizations (GNO) – wholesale buyers of the LPG.

For all these companies, test (simulation) trading was conducted within three months by the commodity exchange.

According to the recommendations of the ETS Commodity Exchange Management Committee, the commodity exchange has adopted 39 exchange instruments across the LPG on 12 delivery bases from 14 regions and two cities of republican significance.

At the first auction, bids from sellers were submitted on 10 delivery bases. At the same time, in the interests of the buyers, 19 applications were submitted for the purchase of the LPG.

According to the results of trading in the framework of the trading session, the first exchange transaction on liquefied gas was recorded on the basis of KazGPZ LLP on terms – EXW, the region – Mangistau region.

– This is a very important event for our country and the oil and gas industry in particular. For the first time, a market indicator of prices in the organized commodity market was formed. Because of the multidirectional trends in the prices of buyers and sellers, only one deal was concluded, but this week we expect that a fair price will be determined on each basis, said Kurmet Orazayev, Chairman of the Board of ETS Commodity Exchange.

As part of the transaction, propane-butane technical was implemented with a total volume of 70 tons at a price of 43,345.87 tenge, including VAT per metric ton.

The low level of marginal prices leads to an increase in domestic consumption and shortages, as well as leads to losses and a significant deterioration in the financial and economic condition of owners and producers of the LPG. Currently, the Ministry of Energy of Kazakhstan has launched a phase-out of state regulation of the wholesale price of liquefied gas. An important step was the introduction of electronic commerce with respect to the volume of LPG for supply to the domestic market.

 

For reference:

ETS Commodity Exchange held its first trading on March 30, 2009 and plans to celebrate its 10th anniversary on this date.

ETS Commodity Exchange is focused on spot trading. The bidders are Kazakhstan and international stock brokers, dealers. The exchange was created in order to increase the transparency of trade operations, the development of an organized wholesale market in the country by eliminating intermediary links. Now there are five sections of spot trading: agricultural products, petroleum products, metals and industrial goods, specialized products and liquefied gas. The shareholders of ETS Commodity Exchange are Moscow Exchange (60.8%), Esentay AGRO LLP (37.7%), minority shareholders – 1.5%.

Press — ETS Commodity Exchange Service

tel .: +7 727 244 44 55 vn.7409, call-center: 8 800 080 05 05;

mob: +77017873928, e — mail: ungarova@ets.kz