The first Forum of subsoil users in the gas industry of Kazakhstan took place on May 15 in Astana. The platform brought together more than 200 participants and 70 Kazakh and international companies from the oil and gas sector, and representatives of government agencies.
Within the framework of the Forum, a new gas purchase price formula was presented, and other issues of pricing and profitability of the Kazakhstani gas industry were discussed. It is expected that introducing a new gas purchase price formula will become a catalyst for the formation of additional commercial gas resources. This will make it possible to increase the gas resource base soon significantly.
"One of the main tasks of QazaqGaz is forming and stimulating the gas market along the entire value chain: from exploration to the burner. We see QazaqGaz as a catalyst for positive changes in the gas industry of Kazakhstan and a highly effective player maximizing the country's gas potential," said Sanzhar Zharkeshov, Chairman of the Board of QazaqGaz NC JSC.
In addition, the organizer of the Forum JSC NC QazaqGaz initiated the signing of off-take contracts for the purchase of additional volumes of gas with 30 subsoil user companies. CNPC-Aktobemunai, Kazgermunai, Kazakhoil Aktobe, Zhaiykmunai, and others are among them. Under the agreement, subsoil users intend to increase gas production at their own expense in Kazakhstan's developed and used fields. In turn, QazaqGaz will buy gas at a stimulating price.
"Today, the average gas price is about $40-50 per 1,000 m3. From the new formula, we expect the price to be around $110-$120. Thus, the new formula makes it possible to sell gas 2-2.5 times more expensive, which, in turn, will attract investment in exploration and development of gas deposits," said Vice Minister of Energy Askhat Khasenov.
On December 30, 2022, the President of the Republic of Kazakhstan, Kassym-Zhomart Tokayev, signed the draft law "On amendments and additions to certain legislative acts of the Republic of Kazakhstan on the implementation of certain instructions of the Head of State." The signed bill provides for the use of an incentive formula for the price of gas purchases from subsoil users.
