Russia ratified the EEA agreement on gas transportation

The agreement, signed by governments of Russia, Belarus and Kazakhstan, has different rules than those stipulated by Russian legislation. In particular, it provides for non-use of the mutual trade of import and export duties. The agreement establishes rules for access to natural monopolies in the transportation of gas transmission system and determines the basis of pricing and tariff policy for the States – the Single Economic Space (CES). The agreement also requires the achievement of market prices for gas in the territories of all States Parties to the EEA by 1 January 2015. In addition, it is envisaged that the competent authorities of Russia, Belarus and Kazakhstan to develop and agree on an indicative forecast of gas balance of the EEA for a period of five years, which is specified annually by October 1. Taking into account the agreed gas balance The Parties shall provide access to services of natural monopolies in the transportation of gas to domestic markets of the Parties, said on Saturday the Kremlin press service.