President signed the Law on gas and gas supply

President Kassym-Jomart Tokayev signed the Law of the Republic of Kazakhstan «On amendments to some legislative acts of the Republic of Kazakhstan on the gas and gas supply», according to the press service of the President.

The adoption of the law will allow to implement the main measures to expand the use of natural gas and new projects in the electric power industry related to the construction of maneuvering capacities in energy-deficient regions.

The law provides the national operator with functions for the exploration and production of hydrocarbons in gas and gas condensate fields.

The document will provide an opportunity to approve gas prices for investment projects using gas for the production of petrochemical products. Increasing gas consumption and expanding its areas of application, as well as the need for further development of the gas sector, are in line with the strategic goals of ensuring energy security in Kazakhstan.

Also, the law has been amended to clarify the concepts of “wholesale sales”, “industrial consumer – investor”, “consumer” and “petrochemical products”.

The changes touched upon the issue of vesting the authorized body with competencies for the development and approval of the rules for the formation of a list of investment projects for the production of petrochemical and gas chemical products.