A single Eurasian Economic Union (EEU) natural gas market will be established by the year 2025.
This market will ensure uninhibited movement of gas within the EEU, accessibility of gas transport infrastructure, stabilization of gas prices, uninterrupted gas supply, and higher level of gas supply to the population of the EEU countries.
The aforesaid was stated at the regular Board meeting of the Eurasian Economic Commission (EEC),which is the executive body of the EEU, during which the concept for the formation of a single EEU natural gas market was approved.
It is noted that the effect of the establishment of this single market is estimated at US$5 billion, within five years.
This concept is the first Eurasian document to provide a legal basis for setting up a single gas market.
The EEU comprises Armenia, Russia, Belarus, Kazakhstan, and Kyrgyzstan.
