Putin: Single EEU oil, gas market to bring up to $9 bn annually
The establishment of a single Eurasian Economic Union's (EEU) market in hydrocarbons will bring the income of up to $9 billion annually to the oil and gas industry, Russian President Vladimir Putin said Tuesday.
"Today we will make another step toward the establishment of a single hydrocarbons market the question, as we have discussed and debated at the time. Let us approve the relevant documents to provide a level playing field in the entire EEU, which will give the combined effect of more than $1 billion for the gas industry and up to $8 billion annually for the oil industry," Putin said at the meeting of the Council.
He added that the framework of a single EEU market in energy should be established by 2019.
The EEU is an economic association founded by Russia and including Armenia, Belarus, Kazakhstan and Kyrgyzstan.
