ASTANA, 31 May (BelTA) – The concepts of formation of the common gas, oil and oil products markets have been approved at the EEU summit, Chairman of the Board of the Eurasian Economic Commission (EEC) Tigran Sargsyan told reporters after the session of the Supreme Eurasian Economic Council in Astana, BelTA has learned.
“The heads of state approved of the concept to establish common oil and oil products markets. In accordance with the concept, power generating companies of the member states will get a nondiscriminatory access to the oil infrastructure of partners. They will be able to purchase oil and oil products without quantitative restrictions at the market price (which will be also formed in the process of stock trading) and without export duties,” Tigran Sargsyan said.
It is expected that the concept will be implemented in three stages. Plans have been made to work out a program of implementing this concept and submit it to the presidents next year. A corresponding agreement will be prepared later. The common energy market will become operational after its passing in 2025.
“The same logic was used to develop the concept of formation of the common gas market in the EEU. This market will be created on the same principles by 2025,” Tigran Sargsyan added.
