Kazakhstan reports the lowest prices for natural gas

According to a survey prepared by RIA Novosti, consumers in Kazakhstan have the privilege of enjoying the lowest natural gas prices ($0.07 per cubic meter) in the world. It won’t last for long, though, as the country’s Ministry of Energy is going to raise wholesale prices for gas by 20%. 

The news agency found out that one average monthly salary in Kazakhstan is enough to buy more than 10,000 cubic meters of gas compared to 9,000 and 5,000 in Russia and Belarus, respectively. Portugal (991.9 cubic meters), Lithuania (805.4) and Moldova (604.8) have shown the worst result in the rating. The highest price of one cubic meter of gas was reported in Sweden ($2.34). The Russian media outlet noted that it used May 2024 prices for Kazakhstan, Russia and Belarus, while for other states this was an average rate for the second half of 2023.

The average wholesale price for commercial-grade gas in Kazakhstan is expected to increase from $0.047 per cubic meter to $0.053 starting from July 1. This is part of an overall strategy aimed at increasing oil products and gas prices in the country.