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29 September 2021, 15:01

EEC: Common oil and gas markets in EAEU will enhance accessibility to energy resources

MOSCOW, 29 September (BelTA) – The development of common oil and gas markets in the Eurasian Economic Union (EAEU) will help increase the availability of energy resources for the population and economic entities, official representative of the Eurasian Economic Commission Iya Malkina told a briefing for the press on 29 September when asked on how the creation of common markets will affect the tariffs for energy for the population of the EAEU member countries, BelTA has learned.

Iya Malkina added that common markets of electricity, gas, oil and petroleum products are to be launched by 1 January 2025. The EAEU heads of state have already approved the concepts and programs for the development of common markets.

“We plan to launch an exchange trade mechanism across all three markets. We believe it will provide transparency in pricing. We also expect that the work of the common markets will stabilize the cost and improve access to energy resources for economic entities and the population of the EAEU,” the EEC representative said.

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