Ticking over: Kazakhstan's gas transit fee has increased
Kazakhstan bumps up gas transit price
Kazakhstan has raised transit fees for Uzbek and Turkmen gas being piped to Russia by 21%, Energy Minister Sauat Mynbayev said today.
Reuters quoted him as saying that Kazakh state-run company KazMunaiGaz and Russian gas giant Gazprom signed a deal on 31 December raising the fee to $1.7 per 1000 cubic metres per 100 kilometres from 1 January.
Last year's transit fee was $1.4 per Mcm per 100 kilometres.
Meanwhile, Mynbayev urged the government to cut the recently introduced mineral extraction tax on the oil industry due to depressed global oil prices.
He said the current tax rate had been calculated on the basis of a price of $60 per barrel.
"Now, when the price is below $40 per barrel, it has become apparent that the mineral extraction tax rate should be revised downwards," Mynbayev told a government meeting.
"The oil industry helped (the country) when it was possible, now it is time to help the oil industry."