On 28 May in Astana, under the chairmanship of Arzybek Kozhoshev, Member of the Board (Minister) in charge of Energy and Infrastructure of the Eurasian Economic Commission (EEC), a round table was held focusing on the formation of the common energy markets of the Eurasian Economic Union (EAEU) and key development issues. The event brought together heads of the energy ministries of the Union member states.
Opening the discussion, Arzybek Kozhoshev emphasized: “Today, energy is far more than simply generation, extraction, and transit. It is energy that forms the foundation of our economic sovereignty”. This statement set the tone for the entire dialogue, which focused on finding a balance between national interests and integration processes.
Participants discussed a broad range of topics, from innovative approaches to regulating intermittent renewable energy generation in Armenia to Kazakhstan’s plans to double the installed capacity of its power system and construct a 2.4 GW nuclear power plant. Particular attention was paid to the phased launch of the Union’s common electricity market in 2027, while the launch of centralized electricity trading was postponed until 2029. This decision will allow for smoother synchronization of national markets and, taking into account the experience gained from electricity trading under free bilateral agreements, will enable timely adjustments to the regulatory framework necessary for the rapid and reliable launch of the full-scale EAEU electricity market.
As a result of the session, the majority of the issues discussed received a new impetus for development, demonstrating the parties’ strong readiness for further integration. As Arzybek Kozhoshev concluded, the key objective is to determine the very “vector of development” that will ensure the Union’s energy sustainability for decades to come.
