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    Economics Kazakhstan

    Kazakhstan leads with lowest global natural gas prices: $0.07 per cubic meter

    Kazakhstan leads with lowest global natural gas prices: $0.07 per cubic meter

    Kazakhstan's natural gas prices are the lowest in the world, with consumers paying $0.07 per cubic meter, according to a survey conducted by RIA Novosti. Despite this, an increase is on the horizon. The Ministry of Energy announced a 20% rise in wholesale gas prices, which will affect the cost paid by consumers.

    Photo: Natural gas
    Source: Google Images
    The survey revealed that an average monthly salary in Kazakhstan can purchase over 10,000 cubic meters of gas. This is higher compared to Russia (9,000 cubic meters) and Belarus (5,000 cubic meters). In contrast, Portugal (nearly 992 cubic meters), Lithuania (805.4 cubic meters), and Moldova (nearly 605 cubic meters) have the lowest purchasing power for natural gas.

    Sweden reported the highest natural gas price at $2.3 per cubic meter. The prices used in the survey for Kazakhstan, Russia, and Belarus were from May 2024, while the rates for other countries were averaged for the second half of 2023. Starting from July 1, the average wholesale price for commercial-grade gas in Kazakhstan will rise from $0.047 per cubic meter to $0.053 per cubic meter. 

    Earlier, Daryo reported that Russian presidential spokesman Dmitry Peskov stated that Russia is open to developing cooperation with Kazakhstan and Uzbekistan on gas supplies. Peskov made these remarks during Russian President Vladimir Putin's visit to Uzbekistan, highlighting the potential for wide-ranging cooperation among the three countries.

    He said, "This is cooperation along the lines of three countries - Uzbekistan, Kazakhstan, and Russia, so the possibilities here are very wide. Russia is open to this, and this is mutually beneficial cooperation."

     

    Follow Daryo's official Instagram and Twitter pages to keep current on world news.

    28.05.2024, 08:33   Comments (0)   2300
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