Karaganda coal prices rise by 13 percent

International Business News  –  The price of coal has risen in Karaganda, Kazakhstan, Atameken business network reports. Shubarkol Komir has announced a 13% increase in coal prices. The current price of coal sold from mines is 6,898 tenge per tonne.

It is known that the sale of coal for consumption in the domestic market is conducted through the exchange, and its price is formed on the basis of exchange trading. In other words, the market determines the selling price. Wholesale coal buyers identified as a result of exchange trading independently form their own sales territory based on consumer demand. Shubarkol Komir says it does not sell coal directly to the public.

At the same time, the consumption price of natural gas for Kazakh residents and enterprises has also dropped. Before the New Year, Kaztransgaz Aimak had applied for an increase in prices for gas pipeline services, citing losses. But instead of agreeing to raise the price, the antitrust authority lowered it, which now stands at 37.6 tenge per cubic meter of gas.

In addition, Kazakhstan has cut coal exports by tens of millions of dollars.

Bolat Akchulakov, Kazakhstan’s energy minister, said discussions were under way with his country about the feasibility of building a coal-fired power plant with a capacity of 2GW, of which 1GW could be exported to Uzbekistan.