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EAEU common gas market discussed at high-level consultation
A constructive dialogue was held on settling certain provisions of the International Treaty on Establishing the EAEU Common Gas Market. In particular, some issues of forming tariffs on the services for gas transportation in the Union’s common market, transportation and supply of gas from third countries to the EAEU States’ territory on a non-discriminatory basis were discussed. Besides, the expediency of forming a Council of Heads of the EAEU countries’ authorized authorities in the energy sector was considered.
The consultation was organized as part of preparing for the Supreme Eurasian Economic Council scheduled for October 14 in Minsk.
The Heads of State instructed to ensure implementing the principals of price and tariff policy formation in the common market based on a non-discriminatory and fair competition. The Concept and Program for establishing a common gas market have already been approved. The next stage will include adopting an International Treaty on Establishing the EAEU Common Gas Market in 2022. All this is required for creating a common legal system of the common market which should start functioning since January 1, 2025.
The value of the EAEU common gas market can be estimated at over 20 bln cubic meters annually. Along with that, it is most essential to balance the interests of gas-producing and gas-consuming countries of the Eurasian "five".
Earlier, a consultation between the EAEU countries’ Ministers of Energy chaired by Temirbek Asanbekov, EEC Minister in charge of Energy and Infrastructure, was held on September 24 at the EEC’s headquarters.
