The common gas market of the EAEU will be created by 2025

The creation of a common gas market of the Eurasian Economic Union (EAEU) is one of the important stages in the development of integration processes in the Eurasian space.

Recall, in 2016, the heads of the EAEU member states approved the concept of forming the EAEU common gas market, and in 2018 they adopted a program and roadmap for the formation of the EAEU common gas market, which are being implemented in 3 stages.

To date, the EAEU member states, together with the Commission, in order to fulfill the 2nd stage of the formation of the EAEU common gas market, have developed a draft international agreement on which the parties continue consultations, both at the expert and high levels.

The launch of the common market is planned to be carried out from 2025.

It should be said that the provisions of the draft international treaty do not apply to gas trade of the EAEU member states with third countries.

Also, the norms of the document do not affect the regulation of domestic markets.

It is assumed that tariffs (prices) for gas transportation services in the EAEU common gas market will be formed on a non-discriminatory basis, and import and export customs duties will not be applied in mutual trade.

At the same time, it is important to note that all current bilateral agreements concluded before the formation of a common gas market will remain in effect until their terms are fully implemented.

In general, it is expected that the creation of a common market in this area will improve the energy security of the Member States and the economic efficiency of the use of gas transmission systems located in the territories of the EAEU countries.

Thus, one of the main advantages for Kazakhstan is non-discriminatory access to the services of natural monopolies of the EAEU countries in the field of gas transportation and transit.