Single hydrocarbons market of Eurasian Economic Union to be created by 2025

Photo: Single hydrocarbons market of Eurasian Economic Union to be created by 2025 / Oil&Gas

Astana, Kazakhstan, May 24
By Daniyar Mukhtarov - Trend:

The single hydrocarbons market of the Eurasian Economic Union (EAU) will be created by 2025, Minister of Energy and Infrastructure of the Eurasian Economic Commission, Danial Akhmetov said.

He made the remarks while speaking at the press conference during the TransEurasia-2014 International Conference on Transport and Transit Potential, in Astana, on May 22.

"The single market of the EAU in the sphere of oil, gas and petroleum products will begin to function in 2025. And this is one of the important decisions in the sphere of integration," Akhmetov said.

He believes that the creation of a single hydrocarbons market will allow the country's of the Eurasian Economic Union to be more competitive in the world markets.

"With the creation of a single hydrocarbons market, we will have a deeper coordination that will allow us to be more competitive both in terms of pricing and in terms of getting high value added products in this very interesting and important market," Akhmetov stressed.

The minister went on to add that the sanctions imposed on Russia by the U.S. and EU will in no way affect Kazakhstan.

"There is a deep conviction that the sanctions imposed on Russia will not affect Kazakhstan, as this country has its own partners and it is regarded as a reliable partner.

Our transport system is very efficient and the prime cost of the hydrocarbons is quite competitive," he said.

Akhmetov believes that the EAU is a step towards a deep integration.

"EAU is not only a new vector of development in Belarus, Russia and Kazakhstan, but also a new level of development of the world civilization," the minister said.

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