Gazprom to cut gas prices for Kyrgyzstan in Q2

By bne IntelliNews April 4, 2016

Gazprom has decided to lower the price of gas for Kyrgyzstan from $165 to $150 per 1,000 cubic metres starting from “the second quarter of 2016” at Kyrgyz President Almazbek Atambayev’s request, according to a statement on the president’s website from April 1, citing the president’s conversation with the chairman of Gazprom’s management committee, Aleksey Miller.

The reasons behind Gazprom’s decision are unclear. However, they could be related to the recent appreciation of the Kyrgyz som against the dollar, as the country receives gas through Kazakhstan and Uzbekistan at prices set in dollars so a change in exchange rate leads to a change in the som price of gas. The Kyrgyz national currency appreciated by 7.8% to KGS70.01 against the dollar between December 31 and March 31, according to figures by the National Bank of the Kyrgyz Republic.

Earlier, Gazprom's Kyrgyz branch raised gas tariffs for the country’s population by 17.84% y/y, according to a report by news agency Tazabek from March 12.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

France's spending on Russian LNG surges to over €600mn this year

France's spending on Russian liquefied natural gas (LNG) surged to over €600mn this year, EU data reveals, Politico reports. The increase comes as French President Emmanuel Macron becomes ... more

What next for oil markets after Iranian strike on Israel?

WHAT: Oil prices have fallen following Iran's strike against military facilities in Israel. WHY: The risk of escalation was largely priced in last week in anticipation of the strike, and Israel ... more

LNG imports improving EU energy security as Russian gas supplies fall to 8% of gas imports

Liquefied natural gas helps make Europe’s gas supply more secure as it doesn’t rely on existing pipeline infrastructure, allowing EU countries to diversify the sources of their imports, the ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    4 days ago
  2. Saudi Arabia to scale back plans for Neom city
    8 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    4 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    18 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    23 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    27 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    21 days ago

Reports

Dismiss