The Eurasian Economic Union (EAEU) differs from other regional associations in the world by having a self-sufficient energy base. This was stated by Arzybek Kozhoshev, Minister of Energy and Infrastructure of the Eurasian Economic Commission (EEC), at a session within the framework of the VIII Kyrgyz-Russian Economic Forum. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
According to the minister, the five member states of the union account for a significant share of world energy resources:
- 0120% of world natural gas reserves and production;
- 0220% of world coal reserves;
- 037% of world oil reserves and 15% of its production;
- 04about 5% of world electricity production;
- 0521% of world uranium reserves and 43% of its production.
In addition, the share of the fuel and energy complex in industrial production in the EAEU exceeds 30%.
Main task – effective internal distribution
"The Union does not need to import basic energy resources from outside. The main task is to form mechanisms for the effective distribution of energy resources within", said the EEC Minister.
According to Kozhoshev, the creation of common markets for electricity, oil and oil products of the EAEU is aimed at solving this problem. They are expected to be launched in the coming years. This should ensure equal access to energy resources for all economic entities in the Union's space.