Russia to advocate gradual changes to Energy Charter – sherpa

MARCH 20

Russia will work to obtain gradual changes to the Energy Charter, Russian Presidential Aide Igor Shuvalov said at the Transitional Economies in the Post-Industrial World conference Monday.

"Russia has signed the Energy Charter, but not ratified it yet," he said. "We will try to change it gradually.”

"It should not be ratified yet, as we will insist on certain changes," he said.

Global energy security will be a priority for the G8 summit agenda alongside efforts against infectious diseases and the development of professional training, he said.

Shuvalov said he hoped that the G8 summit in St. Petersburg in July would be successful.

"We are working in compliance with the schedule and preparing successfully. Our partners did not expect us to prepare the summit's documents so quickly," he said.

The European Energy Charter, which was created as a mechanism for Western and Eastern Europe to cooperate on energy issues, was signed in the Hague December 17, 1991. By 2003, 51 European and Asian nations joined the Charter, and 17 countries and 10 international organizations have the status of observers. Russia, which has signed, but not ratified it, is a temporary member.

The Charter focuses on five main areas, including the protection and encouragement of foreign investment in the energy sector, free trade in energy resources, freedom of pipeline and network energy transit, the reduction of environment damage caused by the energy cycle and mechanisms to resolve conflicts between states or between a state and an investor.