Belarus, Russia to unify energy markets - statement

MOSCOW. Sept 10 (Interfax) - Belarus and Russia will create unified markets for the main energy resources - gas, oil and oil products, and electricity, according to a joint statement of the prime ministers of the two countries following a meeting of the Council of Ministers of the Union State.

The press service of the Belarusian government distributed the text of the statement.

"The parties agreed to coordinate actions in terms of pricing of Russian gas for Belarus for 2022, as well as to develop the principals of functioning and regulation of the unified gas market of the Union State [by July 2022]," the statement said.

In line with the document, it is planned by December 1, 2023 to sign an addendum to the union program determining the main principals of functioning and regulation of the unified gas market, as well as the timelines for introducing them based on the parties' movement toward convergence of business conditions in the gas sphere in relation to the current level.

"The parties agreed to adopt an international agreement on unifying the markets of oil and oil products of the Russian Federation and the Republic of Belarus and harmonizing the national legislation," the statement said.

They also agreed to sign an intergovernmental agreement on the formation of a unified electricity market and the rules for its functioning. Harmonization of the legislation of the Russian Federation and Belarus is envisaged in the framework of creating the unified market.

In addition, the parties agreed by the end of 2023 to ensure unification of legislation in the sphere of operating nuclear power facilities, regulating radiation safety, emergency preparedness and response, and nuclear fuel and radioactive waste management .