EAEU to create common gas market no later than in 2025

VIENNA, Jan 29 (PRIME) -- The Eurasian Economic Union (EAEU) plan to create a common market of natural gas no later than in 2025, Anatoly Golomolzin, deputy director of Russia’s Federal Antimonopoly Service, said late on Tuesday during the European Gas Conference.

“The year of 2020 will be characterized by further development of commercial structure of the gas market. I am talking about a compensatory gas market. This is the most important element of the market’s infrastructure vital especially when there is demand for higher flexibility of pricing and flexibility of reaction to the ongoing changes, reaction to uncertainty,” he said.

“Similar processes are going on throughout the EAEU territory. It is supposed that the common market of gas will be created no later than in 2025, and it may even happen earlier,” he said.

The heads of the states have already approved the program to create the market, and the concept of the market has been defined, he added.

The EAEU unites Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan.

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