MOSCOW, 4 February (BelTA) – The agreement on the common gas market in the Eurasian Economic Union (EAEU) is to be signed in 2022; the document will be drafted in 2021, Emil Kaikiev, Member of the Board – Minister in charge of Energy and Infrastructure of the Eurasian Economic Commission (EEC) said at an online press conference from Almaty that will host a meeting of the Eurasian Intergovernmental Council with the participation of the heads of government of the EAEU countries on 5 February, BelTA has learned.
“There is no mechanism yet for determining gas transportation tariffs. At present, work is underway to draft an international agreement on the common gas market. It will set forth the principles of calculating gas transportation tariffs. This agreement will be in the works throughout 2021 and is to be signed in 2022,” he said.
The EEC minister added that the EAEU common gas market agreement should enter into force no later than 1 January 2025.
Emil Kaikiev did not make projections regarding gas prices in the common EAEU market. “It is still impossible to say how high prices will be,” he noted. “We now have a program regulating the establishment of a common gas market. In accordance with this program, contracts for gas supply should be based on market prices, with the exception of international bilateral agreements. In other words, if two states sign an agreement on gas supply, this will be an international agreement, and economic entities will enter into agreements with each other in line with this international agreement,” he added.
