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05 August 2022, 19:28

EAEU continues working on common gas market

Photo courtesy of eec.eaeunion.org
Photo courtesy of eec.eaeunion.org

MOSCOW, 5 August (BelTA) - The countries of the Eurasian Economic Union (EAEU) are bringing their positions together on the development of a common gas market, BelTA learned from the press service of the Eurasian Economic Commission (EEC) following the results of the discussion of the international agreement on the formation of a common EAEU gas market with the participation of heads of the authorized bodies of the five countries and Arzybek Kozhoshev, the EEC Board member (Minister) on Energy and Infrastructure.

“Another round of talks was aimed at settling disputed issues. It took place as part of the preparations for the Eurasian Intergovernmental Council due on 25-26 August, where the Council plans to discuss the prospects for the development of a common gas market. Arzybek Kozhoshev stressed the need to develop mutually acceptable solutions to the issues, sensitive to the member states, as well as readiness for a constructive discussion,” the press service said.

The participants of the meeting exchanged views on the differences remaining in the international agreement on gas. “The heads of the authorized bodies managed to reach consensus on a number of issues. The parties settled the provisions of the agreement related to the subject matter of its regulation, the terms of payment for services on the common gas market on a ‘one-stop shop' principle, and control over the use of gas. They also came to a common understanding of the market price of gas,” the EEC said.

“The heads of the authorized bodies have agreed to work further on certain provisions of the international gas agreement on a bilateral basis and to continue the discussion of these issues on 12 August to finalize the document and submit it to the Union State bodies,” the press service said.

The international agreement on the EAEU common gas market will define the basic conditions for its functioning. The development of a common market is carried out in three stages. The third and final stage, slated for implementation before 1 January 2025, envisages the enforcement of the international agreement on the EAEU common gas market. Development of a common market and harmonization of national legislations are based on the principles stipulated by the Treaty on the EAEU, the concept and the program on the development of the Union common gas market.

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