Draft Agreement on Unified Gas Market to be Finalized by Year-End in EAEU: Myasnikovich

The Chairman of the Eurasian Economic Commission (EEC), Mikhail Myasnikovich, expressed hopes that the member states of the Eurasian Economic Union (EAEU) will manage to agree on the draft agreement concerning the unified gas market by the end of this year.

“Currently, there are still three contentious issues regarding the common gas market. I believe that we will find mutually acceptable solutions regarding this draft agreement by the end of the year,” said the EEC head, as reported by the BelTA agency.

Among the disputes, Myasnikovich mentioned the formation of tariffs for gas supplies, as well as issues related to the import of gas from third countries. Additionally, there are discussions on how to handle long-term contracts that have already been signed between EAEU countries.

“Overall, we are discussing all these issues from the perspective of the operations of natural monopolies,” the EEC chairman stated. Myasnikovich added that when it comes to the unified electricity market, “essentially everything is regulated.”

“Currently, we are working on the documentation, and it is at a high level of preparation regarding the oil and petroleum products market,” noted the EEC Collegium Chairman. The common energy markets within the EAEU are expected to start operating from January 1, 2025, TASs reported.