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Last updated on April 17, 2014 at 10:14 EDT

Russian Official for Forming Common Energy Market With Kazakhstan

October 8, 2008

Text of report by corporate-owned Russian news agency Interfax

Almaty, 8 October: Kazakhstan and Russia need to form a common energy market, the head of the Russian Federation Council’s committee for CIS affairs, Vadim Gustov, believes.

“The setting up of a kind of an oil alliance would at least strengthen the positions of the countries,” he said, speaking at the KIOGE-2008 conference in Almaty today.

“The setting up of a common energy market within Russia and Kazakhstan would facilitate the development of mutually beneficial relations in the energy field, the supply of the domestic market with cheap types of energy resources and the expansion of the possibility of supplying energy resources to third countries,” Gustov stressed.

In his view, it is currently important to draw up and adopt a strategy for developing the energy market of Russia and Kazakhstan at the intergovernmental level.

In future, Gustov believes, the Russian-Kazakh energy market could become “a basis for forming a single energy space within the EAEC [Eurasian Economic Community]“.

Originally published by Interfax news agency, Moscow, in Russian 1031 8 Oct 08.

(c) 2008 BBC Monitoring Central Asia. Provided by ProQuest LLC. All rights Reserved.