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10 February 2024, 13:00

Opinion: Union State's single energy market will help align energy systems of Belarus, Russia

MINSK, 9 February (BelTA) – The Union State's single energy market will lead to closer integration of the energy sectors of Belarus and Russia, economist Mikhail Kovalev told BelTA.

“Forming the single energy market within the Union State is one of the key factors to advance the integration of Belarus and Russia. It is also a promising model for creating a joint energy market of the EAEU. It is important to integrate power grids within the EAEU,” the expert noted.

The economist emphasized that Belarus and Russia are creating the single energy market while ensuring the energy sovereignty of the Union State. This will prevent any risks and will synchronize the EAEU states' energy markets. He also believes that this will benefit the economy of Belarus. “The single energy market means single prices for energy and lowers gas prices for us, which will positively affect the economy, in particular, industrial enterprises. The single market will also imply equal prices for gasoline, which is now cheaper in Russia than in our country. What is important is that we will ensure the energy sovereignty of the Union State,” Mikhail Kovalev summarized.

As it has been reported, forming the unified electricity and gas markets of Belarus and Russia will be discussed at a meeting of the Energy Commission of the Parliamentary Assembly of the Belarus-Russia Union State in Vitebsk on 14 February.
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