Pricing in EEU common gas market will be based on market principles
<p> MINSK, Oct 26 - PrimePress. Pricing in the common gas market of the Eurasian Economic Union (EEU: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia) will be based on market principles. This was stated by Minister of Energy and Infrastructure of the Eurasian Economic Commission (EEC) Temirbek Asanbekov in an interview to Rossiyskaya Gazeta, published on the EEC website. </p> <p> </p> <p> “Pricing in the EEU common gas market will be based on market principles, i.e., on the basis of supply and demand. It is planned to use exchange trading as the main mechanism, with a mechanism for anti-monopoly regulation. The combination of these factors gives certain guarantees that the gas price will not be subject to the same fluctuations that we are now seeing in Europe,” Asanbekov said. </p> <p> </p> <p> An agreement on the EEU common gas market is scheduled to be signed in 2022. The EEU now has long-term bilateral agreements concluded by Russia with Armenia, Belarus and Kyrgyzstan, which determine gas prices. </p> <p> </p> <p> As previously reported, member states of the Eurasian Economic Union have not yet reached an agreement on a comprehensive system of tariffs on gas transportation when creating a common gas market. In December 2020, the heads of EEU countries approved an action plan on harmonization of the EEU countries’ legislation in the oil sector, and also decided to move to the second stage of formation of the common gas market - creation of its infrastructure, technological and legal basis. </p> <p> </p> <p> The agreement may be signed as early as 2022, although the original plan was to launch a single gas market in 2025. </p> <p> </p> <p> The EEU is an international economic integration association established on the basis of the Customs Union and the Common Economic Space, which has been operating since 1 January 2015. The EEU ensures freedom of movement of goods, as well as services, capital and labour, and pursues coordinated, harmonised or unified policies in the sectors of the economy. End </p>
2021-10-27
Primepress
Pricing in EEU common gas market will be based on market principles
MINSK, Oct 26 - PrimePress. Pricing in the common gas market of the Eurasian Economic Union (EEU: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia) will be based on market principles. This was stated by Minister of Energy and Infrastructure of the Eurasian Economic Commission (EEC) Temirbek Asanbekov in an interview to Rossiyskaya Gazeta, published on the EEC website.
“Pricing in the EEU common gas market will be based on market principles, i.e., on the basis of supply and demand. It is planned to use exchange trading as the main mechanism, with a mechanism for anti-monopoly regulation. The combination of these factors gives certain guarantees that the gas price will not be subject to the same fluctuations that we are now seeing in Europe,” Asanbekov said.
An agreement on the EEU common gas market is scheduled to be signed in 2022. The EEU now has long-term bilateral agreements concluded by Russia with Armenia, Belarus and Kyrgyzstan, which determine gas prices.
As previously reported, member states of the Eurasian Economic Union have not yet reached an agreement on a comprehensive system of tariffs on gas transportation when creating a common gas market. In December 2020, the heads of EEU countries approved an action plan on harmonization of the EEU countries’ legislation in the oil sector, and also decided to move to the second stage of formation of the common gas market - creation of its infrastructure, technological and legal basis.
The agreement may be signed as early as 2022, although the original plan was to launch a single gas market in 2025.
The EEU is an international economic integration association established on the basis of the Customs Union and the Common Economic Space, which has been operating since 1 January 2015. The EEU ensures freedom of movement of goods, as well as services, capital and labour, and pursues coordinated, harmonised or unified policies in the sectors of the economy. End