Draft concepts on forming common markets of gas and oil and oil products of EEU discussed in Moscow

ASTANA. KAZINFORM - Tair Mansurov, Member of the Board (Minister) for Energy and Infrastructure of the Eurasian Economic Commission, chaired a session of the Consultative Committee for Oil and Gas where the draft concepts on common markets of gas, oil and oil products of the EEU were discussed, the press service of the EEU reports.

Deputy heads of responsible bodies of the EEU member states, members of the Consultative Committee, representatives of the EEU business community and the Eurasian Economic Commission took part in the sitting.

The Consultative Committee mostly approved draft concepts on forming common markets of gas and concepts on forming common markets of oil and oil products of the Union. According to the Agreement of the EEU, the documents have to be submitted for the consideraiton of the Supreme Eurasian Economic Council in December 2015.

The concepts were developed on the basis of the results of the research works held by the Economic Strategy Institute and the Institute of Energy and Finances of Russia. The documents outline new goals, tasks and principles of forming of common markets of gas, oil and oil products of the Union and new mechanisms for ensuring the operation of the Union in this sphere.

T. Mansurov stressed that establishment of common markets of gas, oil and oil products will ensure increase of the level of the energy security and operation of the Union, growth of the mutual trade of energy resources and investments in this sphere and the reduction of the expenses for production of energy resource and creation of the conditions for their balanced use.