EAEU Ministers Talk Draft Contract On Common Gas Market - Russia's Energy Agency
Umer Jamshaid 22 days ago Fri 24th September 2021 | 10:20 PM
MOSCOW (UrduPoint News / Sputnik - 24th September, 2021) The energy ministers of the Eurasian Economic Union (EAEU) discussed preparation of the draft contract on the common market of natural gas, the Russian Energy Ministry said on Friday.
The ministerial summit took place via video-conferencing. Russian Energy Minister Nikolay Shulginov emphasized that formation of common markets within the EAEU is one of the key objectives within the scope of the Eurasian integration and must be completed till 2025.
"The EAEU energy ministers discussed the pressing issues of forming a common natural gas market. Special attention, in particular, was paid to the process of harmonization of the international draft contract on the common gas market of the Union," the ministry said in a press statement.
In December 2020, the EAEU leaders agreed on launching the second stage of a common gas market formation, which is about creating an infrastructural, technological, and legal basis of the market. The single oil and gas markets are planned to start functioning in 2025, and agreements might be signed already in 2022.