During the negotiations held on August 4, the heads of energy agencies of the "five" countries discussed in depth some outstanding issues of the international treaty on establishing the EAEU common markets for oil and petroleum products.
Arzybek Kozhoshev, Minister in charge of Energy and Infrastructure of the Eurasian Economic Commission, who chaired the meeting, noted a high degree of readiness of the draft document. Along with that, he stressed the importance of a constructive dialogue and emphasized the need to concentrate efforts on closer interaction between authorized bodies to coordinate the treaty provisions where differences still remain.
In particular, this is a question of order and priority of providing access to services for transporting oil and petroleum products, special aspects of interstate transportation as one of the transaction types, as well as rendering services for oil transportation.
During the consultation, the heads of authorized bodies reached a consensus on individual issues of access to oil and petroleum products transportation systems, including the technical feasibility of transportation. The sides narrowed their positions on the terms and conditions of the service contract.The International treaty on establishing the Union’s common markets for oil and petroleum products sets up essential conditions for its functioning. In general, establishing common markets for oil and petroleum products is carried out in three stages. The final third stage - until January 1, 2025 - envisages the enactment of the international treaty on establishing the Union’s common markets for oil and petroleum products. The work on establishing common energy markets and harmonizing national legislation is carried out with due regard to the fundamental principles provided for by the Treaty on the EAEU, the Concept and Program for establishing common markets for gas, oil and petroleum products.