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JV "UZ-KOR GAS CHEMICAL" started trading on commodity exchange
The commodity exchange market of liquefied gas in Uzbekistan continues to develop dynamically. So, from August 19, the circle of hydrocarbon traders on the commodity exchange has been extended by another manufacturer - "UZ-KOR GAS CHEMICAL".
During the auction, new seller has opened 2 exchange-traded contracts with lots of 25 and 35 tons respectively. The starting price for each of the contract is 1.2 million soums per ton. According to the first results of trades on the commodity exchange, the company has already sold about 300 tons of hydrocarbon totaling 526 million soums. At the same time during electronic trading the price on the gas of the current producer rose by almost 60%, or up to 2 mln soums per ton.
According to traders and market experts, the appearance on the stock market of a new seller of liquefied natural gas will diversify the structure of sales and will contribute to the development of a competition in the market.
Recall that "UZ-KOR GAS CHEMICAL" was established in February 2008 in the framework of bilateral cooperation between the Republic of Uzbekistan and the Republic of Korea, the National Holding Company "Uzbekneftegaz" and the Consortium of Korean companies. The main goal of the company is the construction of Ustyurt gas-chemical complex at Surgil deposit in Karakalpakstan.
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