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. Last Updated: 07/27/2016

Kazakhstan Hikes Gas Transit Prices

Kazakhstan said Monday it had raised the price for shipping gas to Gazprom by 27 percent.

Gazprom agreed to pay $1.40 for shipping 1,000 cubic meters of gas 100 kilometers in 2008, Kazakh gas-pipeline monopoly KazTransGaz said in an e-mailed statement. The 30-cent increase took effect Jan. 1 and will not change this year, the company said.

Kazakhstan plans to ship more than 47 billion cubic meters of Russian gas across its territory this year, and more than 54 billion cubic meters of Central Asian gas to Russia, KazTransGaz said. The fuel is transported along six pipelines, with the Soyuz link connecting Gazprom's Orenburg processing facility in Russia with Ukraine via Kazakh territory.

Gazprom, which controls almost all gas exports from Central Asia, supplies a quarter of Europe's gas. Spokesman Sergei Kupriyanov was unable to comment immediately when contacted by phone.