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EAEU countries decided to transit to second stage of forming common gas market

EAEU countries decided to transit to second stage of forming common gas market

12/11/2020

At the meeting of the Supreme Eurasian Economic Council held on December 11, the Heads of the Eurasian Economic Union countries decided to ensure completing the first stage activities on establishing the Union’s common gas market. In particular, to ensure the availability and completeness of disclosure on available capacities of gas transportation systems; to develop and agree on uniform rules for access to gas transportation systems located in the Member States’ territories; to approve the procedure for conducting stock trading in gas agreed by the Union countries' authorized authorities.

It was also decided to transit to the second stage of establishing the Union’s common gas market.

As part of this stage, it is required to draft an international treaty on establishing the Union’s common gas market which will determine the principles of functioning and regulating the Union’s common gas market.

It is planned to implement other second stage activities on establishing the Union’s common gas market after completing the first stage activities on establishing the Union’s common gas market.

The decision shall come into effect from the date of its official publication.

According to the Treaty on the EAEU, the common gas market should be established no later than 2025.​