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31 March 2022, 19:32

Progress in setting up Belarus-Russia common natural gas market outlined

MINSK, 31 March (BelTA) – Belarusian Energy Minister Viktor Karankevich described progress in implementing the program of the Union State of Belarus and Russia on setting up the common market of natural gas in an interview with the Economy of Belarus magazine, BelTA has learned.

According to the source, the energy ministers have authorized a detailed plan, which specifies major steps in implementing the project as well as intermediate steps and deadlines on the way towards setting up the common market of natural gas.

Viktor Karankevich said: “The work can be divided into three blocks. The first one and the second one include the formation of price conditions for delivering natural gas to Belarus in 2022-2023. This work has been partially finished. A package of documents has been prepared and signed, including an intergovernmental agreement. This year's price for imported gas has been determined thanks to these documents. We are now working with Russian colleagues on documents for the year 2023.”

The third block focuses on creating the legal framework for the common gas market. Working out and reconciling principles of operation and regulation of the common market of natural gas represent the main task in 2022. A Belarusian-Russian working group has been established for this purpose. Experts are already employed in this process. Reconciled principles will be formalized as a draft addendum to the Union State program on natural gas. The addendum is supposed to be signed by the end of 2023.

All the stages of the natural gas program are designed to bring business operation terms for Belarusian and Russian gas industry entities closer to each other.

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