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06 June 2024, 17:14

Belarusian, Russian energy ministers initial plans on setting up joint markets of electricity, natural gas

MINSK, 6 June (BelTA) – Belarusian Energy Minister Viktor Karankevich and his Russian counterpart Sergei Tsivilyov initialed plans on setting up the joint markets of electricity and natural gas on the sidelines of the St. Petersburg International Economic Forum, BelTA has learned.

Work to fulfill the plans will be organized as part of the main guidelines on implementing provisions of the Union State Foundation Treaty for 2024-2026.

In line with the documents the interstate agreement on forming the joint market of electricity of the Union State of Belarus and Russia is supposed to be signed in 2024. The parties are also supposed to finish reconciliation and sign rules of operation of the joint electricity market.

Apart from that, there are plans to work out a roadmap on setting up the domestic wholesale market of electricity in Belarus.

As for efforts to set up the joint market of natural gas, work will continue to reconcile principles of the market’s operation for the sake of further rapprochement of business operation conditions in gas industry as from 1 January 2026.

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