Armenia calls for speedier approval of treaty on creating EAEU common gas market

YEREVAN. Oct 26 (Interfax) - The countries of the Eurasian Economic Union (EAEU) should come up with general solutions which can be used as the basis for approving an international treaty on the formation of a common gas market within the union, Armenian Deputy Prime Minister Mher Grigoryan has said.

"In this context, the Armenian side is ready for a dialogue for the prompt resolution of unsolved issues," Grigoryan said at a joint meeting of the CIS Council of Heads of Government and the Eurasian Intergovernmental Council in Bishkek.

Not all agreements on the common energy market in the EAEU are now being implemented in full, he said.

Vadim Zakrevsky, director of the energy department of the Eurasian Economic Commission, said in July that international treaties governing general issues concerning the formation of common gas, oil and petroleum product markets of the Eurasian Economic Union were at a high degree of readiness.

"On some issues that are very sensitive to the sides [...] a search for mutually acceptable solutions that take into account the diverse interests of both the producer member states and the states that consume energy continues," he said. Zakrevsky said he was referring to issues associated with pricing and the tariff on gas transportation, bilateral intergovernmental agreements on the supply of energy resources, and the non-discriminatory use of trunk oil pipelines.

The greatest successes have been achieved in forming a common electrical power market in the EAEU. "An international treaty has taken effect on this market, rules governing access to electrical power transit have been approved, and the trading sites that organize forward centralized trading in electrical power on the common market have been determined. The heads of governments of the union countries will need to adopt some other documents this year on the functioning of the market, which are at a high degree of readiness," he said.

The Eurasian Economic Commission is now working with the member countries on a package of documents governing the common energy markets, including international treaties on forming a common gas market and common oil and petroleum product markets. "In line with the program documents, all rules governing the functioning of the common markets need to be adopted by January 1, 2024," he said.