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Gazprom and EEC explore potential cooperation in gas sector within EAEU

June 17, 2016, 14:10

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Tigran Sargsyan, Chairman of the Board of the Eurasian Economic Commission, took place today at the St. Petersburg International Economic Forum 2016.

The parties discussed potential cooperation in the gas sector within the Eurasian Economic Union (EAEU). A focus was placed on the implementation of the Concept for forming a common gas market in the EAEU.

Background

The Eurasian Economic Commission (EEC) is a permanent regulatory body of the Eurasian Economic Union (EAEU). The Commission is mainly aimed at ensuring the effective functioning and development of the EAEU, as well as developing proposals for further integration.

At present, five countries are represented in the EEC: the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, and the Russian Federation.

On May 31, 2016, the Supreme Eurasian Economic Council of the EAEU approved the Concept for forming a common gas market in the EAEU. The Concept is meant to create the conditions for establishing a common gas market in the EAEU for free trading of gas at market prices among the Union's member countries.

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