Eurasian Economic Union is developing a unified natural gas market freight plan

International Interfax News Agency Minsk, August 15th, Eurasia Energy Commission Director Shenets said in an interview with the Belarusian News Agency that the proposal for the Eurasia Economic Union to unify the natural gas market freight rate will be completed in October this year. She said that according to the plan to establish a unified natural gas market for the Eurasian Economic Union, there are still differences on the issue of the formation mechanism of natural gas freight. The member states of the Eurasian Economic Union are coordinating the issue at the level of the energy ministers and intend to hold a special meeting. The results will be reported to the Prime Ministers at the Eurasian Economic Union Heads of Government Council meeting in October this year.

According to the work arrangement, the plan for establishing a unified natural gas market for the Eurasian Economic Union is expected to be signed at the end of this year. In 2020, an international treaty on the establishment of a unified natural gas market will be formulated and submitted to countries for internal approval procedures, which will be formally signed in 2021. The Eurasian Economic Union’s unified natural gas market is expected to be officially established in 2025.

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