March 4 this year The next meeting of the Advisory Committee on Oil and Gas under the Board of the Eurasian Economic Commission will take place.

During the meeting, members of the Advisory Committee will consider the progress of the formation of a common market for gas, oil and petroleum products, including an analysis of the current state and determination of further steps for the development of cooperation in this area.

Let us recall that, within the framework of existing agreements, the creation of common markets for energy resources (electricity, gas, oil and petroleum products) for the EAEU member countries was planned from 2025.

At the same time, the EAEU member countries plan to discuss postponing the date for introducing a common market for gas, oil and petroleum products, since at the moment the developed draft regulations are at an insufficient level of readiness for full adoption and require further consultations between the parties.

In general, we note that the creation of a common market for gas, oil and petroleum products of the EAEU is one of the important stages in the development of integration processes in the Eurasian space.

The formation of common energy markets includes ensuring the free movement of energy resources across the territory of the EAEU member states, creating a competitive environment in the energy sector, ensuring equal access to the services of natural monopolies in the field of transportation and transit of energy resources, joint development of energy market infrastructure and pursuing a coordinated tariff policy.

Participation in the common energy market for Kazakhstan will contribute to the stability of energy prices, as well as help attract investment into the energy sector of Kazakhstan and reduce dependence on individual export markets, which in turn will support the economic growth and development of the country.