Kazakhstan extends use of Argus assessments to price LPG
28 December 2018
The Kazakhstan government has increased its use of price assessments for liquid petroleum gas (LPG) published by global commodity price reporting agency Argus.
From 1 January 2019, the reserve price for LPG sold on electronic platforms will be based on the Argus daf Bekabad price assessment. The reserve price at the first electronic auction will be based on the ceiling price for LPG sold on the Kazakh domestic market outside electronic trading platforms. The Kazakh energy ministry has been using the Argus daf Bekabad assessment since June 2016 to set the ceiling price for LPG on the domestic market on a quarterly basis.
In subsequent trading sessions, the reserve price will be based on the weighted average price for LPG sold in the previous trading session, as established at the close of trading. If there are no trades for three consecutive sessions, the reserve price will be reset at the next session based on the current ceiling price.
The Argus daf Bekabad price assessment is based on prices for 100-500t railway cargoes of LPG on a daf Bekabad (Uzbekistan-Tajikistan border) basis for a period of 5-25 days. Prices are assessed weekly, on Wednesdays at 17:30 Moscow time, and denominated in US dollars per tonne.
For more pricing information, news and analysis of LPG markets in the former Soviet Union, export destinations and global markets, see the Argus Russian LPG and Condensate report.
About Argus Media
Argus is an independent media organisation with almost 1,100 staff. It is headquartered in London and has 26 offices in the world’s principal commodity trading and production centres. Argus produces price assessments and analysis of international energy and other commodity markets and offers bespoke consulting services and industry-leading conferences.
Companies in 140 countries around the world use Argus data to index physical trade and as benchmarks in financial derivative markets as well as for analysis and planning purposes.
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