ARMENIA, KAZAKHSTAN, KYRGYZSTAN, RUSSIAN FEDERATION, OTHER: Agreement on the Methodology for the Formation of Indicative (Forecast) Balances of Gas, Oil and Petroleum Products within the Framework of the Eurasian Economic Union (EAEU)

Meta Data
Title in national language: 
Соглашение о Методологии формирования индикативных (прогнозных) балансов газа, нефти и нефтепродуктов в рамках Евразийского экономического союза
Draft: 
No
Revision of previous policy?: 
No
Effective Start Year: 
2016
Scope: 
Multilateral
Document Type: 
Agreement
Economic Sector: 
Energy
Energy Types: 
Oil, Gas
Issued by: 
Eurasian Economic Commission 
Notes: 
No English translation available
Source: 
Eurasian Economic Commission (RU)
File: 
Agreement on the Methodology 2016 EAEU (RU)
Overall Summary: 
The Agreement on the Methodology for the Formation of Indicative (Forecast) Balances of Gas, Oil and Petroleum Products within the Framework of the Eurasian Economic Union (EAEU) was adopted in order to implement Articles 80 and 104 of the Treaty on the Eurasian Economic Union of May 29, 2014. Under the Agreement, the authorized bodies develop and agree on the indicative (forecast) balance of the Union's gas, the indicative (forecast) balance of the Union's oil and indicative (forecast) balances of the Union's petroleum products in accordance with the Formation Methodology indicative (forecast) balances of gas, oil and oil products within the Eurasian Economic Union.
Governance
Energy management principles: 
Article 3. The authorized bodies annually develop an indicative (forecast) gas balance, an indicative (forecast) oil balance and indicative (forecast) balances of petroleum products (automobile gasoline, diesel fuel, heating oil, jet fuel) of their state, agree, if necessary, with each other individual parameters of these indicative balances and send them to the Eurasian Economic Commission (hereinafter referred to as the Commission) by September 5 of the current year. Article 4. The Commission annually, on the basis of the agreed indicative (forecast) balances of the Member States presented by the authorized bodies, prepares an indicative (forecast) balance of the Union's gas, an indicative (forecast) balance of oil of the Union and indicative (forecast) balances of oil products of the Union. Article 5. The indicative (forecast) balances of the Union form a single system of indicators used within the Union and in the member states, characterizing production, production, consumption, imports, exports and supplies, including mutual ones, to meet the internal needs of the member states, gas, oil and petroleum products in the territories of the member states. Article 6.The indicative (forecast) balances of the Union are formed annually for a 5-year period and include reporting indicators for the previous year, expected indicators for the current year and forecast indicators for the next three years.