Common hydrocarbons market in Eurasian Economic Union by 2025

The common hydrocarbons market will be developed in the Eurasian Economic Union (EEU) by 2025, the electric power market will go operational sooner, Minister of Energy and Infrastructure of the Eurasian Economic Commission (EEC) Danial Akhmetov told media in Astana, BelTA learnt from the EEC press service.

In his words, Belarus, Kazakhstan and Russia plan to adopt the common hydrocarbons market concert in the mid 2015 and the relevant program in 2016. “The outstripping growth rate of the electric power industry is a result of a huge electric power potential the three states have. We also have a common technical and technological base. We have already gained experience from working jointly in the unified energy system, which allows us setting up a common electric power market with the proper regard of new realities. The common electric power market will benefit to every member state of the Eurasian Economic Union,” the minister said.

As for the common hydrocarbons market, it will go operational in 2025. “The common hydrocarbons market will be a very important step in integration. The market will let the EEU member states coordinate their decisions and enhance their competitive ability on the world market, get high value added products,” Danial Akhmetov stressed.