19.05.2023 (Обновлено: 22.05.2023 15:38)

EAEU countries converge positions on establishing common markets for gas, oil and petroleum products

A meeting of the Council of Heads of Authorized Energy Authorities of the Eurasian Economic Union States chaired by Arzybek Kozhoshev, Minister in charge of Energy and Infrastructure of the Eurasian Economic Commission, was held on May 16-17.

During the meeting, the Heads of the Ministries of Energy of the Eurasian "five" discussed the most relevant matters of establishing a common gas market and common markets for oil and petroleum products, the operation of a common electric power market, rules of mutual trade and functions of the operator of centralized electric power trade on a day-ahead basis.

Arzybek Kozhoshev has noted the need to resolve issues on which the parties have long been unable to reach consensus, as well as their readiness for a constructive dialogue: “The search for solutions on issues sensitive to the parties will continue both on a bilateral basis and at a higher level in order to finalize and adopt fundamental documents on common markets as soon as possible”.

The Ministers of Energy of the EAEU countries proposed to strengthen interaction within bilateral consultations on settling individual issues of the common energy markets' functioning.

During the meeting, Arzybek Kozhoshev also noted the contribution of Viktor Karankevich, Minister of Energy of the Republic of Belarus, to developing the Eurasian integration and presented him with a commemorative lapel badge on behalf of the Eurasian Economic Commission.