Creation of a common oil and gas market does not imply the same prices of petroleum products in the EAEC

Almaty. March 12. Silkroadnews - Creation of a common oil and gas market in the territory of the Eurasian Economic Union (EAEC) does not mean that the price of oil, gas and petroleum products in all countries of EAEC are the same, informs BelTA on Thursday, citing the words of a member of the board (Minister) for Energy and Infrastructure of Eurasian Economic Commission (EEC) Tair Mansurov.
He noted that the systematic work on the creation of common markets of gas, oil and petroleum products in the EAEC has already started and a similar situation is observed in the markets of the European Union.
It is reported that the final common markets of gas, oil and petroleum products will be formed by 2025.
T. Mansurov said that before the end of 2015 will be developed and approved by the Supreme Eurasian Economic Council, the concept of common markets for gas, oil and petroleum products in EAEC. In 2016-2017 should be developed and appropriate programs to promote these markets, and the implementation of measures of these programs will be done in 2018-2024, respectively.
The Minister noted that the competent authorities of the Member States of EAEC will annually develop and coordinate indicative (projected) balance sheets of gas, oil and petroleum products. The methodology of their formation has been developed, and finally is planned to be accepted on July 1, 2015.
Formation of common energy markets will increase the safety and reliability of the fuel and energy complex of the EAEC, create conditions for improving the energy security of the population and a more favorable environment for investment in energy facilities.