Meeting the energy needs of the EAEU member states is the priority and the basis of the emerging common market of oil and petroleum products. The common market to be launched in 2027 is about energy security, equal access to resources and economic benefits, Deputy Chairman of the Belarusian State Concern for Oil and Chemistry Belneftekhim Vladimir Sizov said in an interview with the First News TV channel, BelTA informs.
It was noted that when developing the fundamental documents on the principles of functioning of the common market of oil and petroleum products in the Eurasian Economic Union, the parties agreed on some priorities that must be reflected on paper. According to Vladimir Sizov, the parties agreed to prioritize the domestic energy needs of the EAEU member states.
“The availability of the huge raw material base in the Eurasian Economic Union states creates prerequisites for ensuring the energy security of the member states, much more advanced than if each state used only its own resources,” Vladimir Sizov noted.
Belneftekhim also upholds some other positions of the Belarusian side with regard to the future common market of oil and petroleum products emphasizing the importance of equal access to energy sources. This, as Vladimir Sizov added, is necessary for healthy competition in the market and elimination of uneven access of producers to primary energy resources, in this case oil and petroleum products.
As BelTA reported, an agreement was reached at the level of heads of state to launch the common market for oil and petroleum products in 2027.
