BAKU, Azerbaijan, June 23. The launch of the EAEU [Eurasian Economic Union] common gas market is planned to take place by 2025, Trend reports.
According to Kazakhstan's Ministry of Trade and Integration, the establishment of a common gas market within the EAEU is considered a significant milestone in the development of integration processes across the Eurasian region.
In 2016, the heads of the EAEU member states approved the concept for the formation of the EAEU common gas market, followed by the adoption of a program and roadmap for its formation in 2018. These initiatives are being implemented in three stages.
The launch of the common market is planned to take place from 2025 onwards.
Currently, a draft international treaty for the implementation of the second stage of the common gas market formation has been developed. Consultations between the parties are ongoing, both at the expert and high levels.
Notably, the provisions of the draft international treaty do not apply to gas trade between the EAEU member states and third countries. Furthermore, the document's regulations do not interfere with the regulation of domestic markets.
It is anticipated that tariffs (prices) for gas transportation services within the EAEU common gas market will be established on a nondiscriminatory basis. Import and export customs duties will not be applied in mutual trade.
Overall, the creation of a common market in the gas sector is expected to enhance the energy security of the member states and improve the economic efficiency of gas transportation systems located within the EAEU countries.
Therefore, one of the main advantages for Kazakhstan is the nondiscriminatory access to natural monopoly services in the field of gas transportation and transit offered by the EAEU countries.
