MOSCOW, March 20. /TASS/. The energy market in the Far East is formally not in time to become functional from July 1 due to disagreements, Russian Minister of Energy Nikolay Shulginov told reporters.

"We have already missed time formally for the [market] launch from July 1," the minister said.

Disagreements are in place amid "lack of full understanding of how the market functions and what we lose if we fail to launch in time the process of competitive capacity outtake and acceleration of processes of upgrade and construction of power plants in the East," Shulginov added.

The Russian Ministry of Energy repeatedly informed earlier that it seeks after launching the energy market in the Far East in July 2024.