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27 October 2022, 11:19

Completion of work on EAEU common energy markets seen as priority

MOSCOW, 27 October (BelTA) - Participants of the Advisory Committee on Oil and Gas of the Board of the Eurasian Economic Commission (EEC) discussed the progress made in the work on the documents on common markets for gas, oil and oil products. The meeting was chaired by Director of the EEC Energy Department Vadim Zakrevsky on 26 October, BelTA learned from the press service of the EEC.

Opening the meeting, Vadim Zakrevsky emphasized the urgent need to complete the work on the documents regulating the common markets of energy resources as soon as possible, the press service said. “Taking into consideration the strategic importance of the matter, we should coordinate our efforts to ensure timely implementation of the decisions taken by the heads of our states and to achieve the goals of energy integration by 2025,” he stressed.

The Advisory Committee discussed the draft international gas agreement as part of the forthcoming consideration of this issue at the EEC Council meeting in November 2022. “Another important matter is the implementation of measures for the formation of a common gas market as stipulated in the program documents. The parties corrected the terms of certain measures taking into account their implementation and the necessity to complete this work by early 2025. This means that corresponding draft documents, developed by the commission together with the authorized bodies of the member states, will be submitted for further consideration by the Commission and the Union,” the EEC said.

The members of the Advisory Committee also discussed the work on indicative balances of gas, oil and oil products of the Union and the necessity to complete it in due time.

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