Brussels, 01/12/2014 (Agence Europe) - European Energy Union Commissioner Maros Sefcovic, speaking at the 25th ministerial conference on the Energy Charter in Astana on Thursday 27 November, hailed the work done in 2014 with a view to the adoption and signature on the new energy charter at a special conference to be held in the Hague in the spring of 2015.
“The Charter is an economic alliance between countries with different cultural, economic and legal backgrounds which are united in their commitment to achieve common goals: to provide open energy markets, to stimulate cross-border investment and trade in the energy sector, and to assist countries in transition in developing an effective institutional and legal framework for energy. My message today is that the European Commission is fully committed to making the realisation of these goals a success. The Commission will continue to work in close cooperation with the EU member states and all contracting parties and signatories to ensure that the new Charter and the Energy Charter Treaty continue to be regarded as corner stones of global energy architecture”, he said.
The Energy Charter Treaty, signed in 1991, then extended in 1994, establishes the framework for international cooperation between the countries of Europe and other countries to develop the energy potential of the Central and Eastern European countries and to ensure security of energy supply to the EU. Over the years, all of the former Soviet republics have joined the treaty, to which Afghanistan, Australia and Mongolia are also parties. Russia has signed the Charter but has not yet ratified it. The Charter also includes a protocol on the promotion of energy efficiency policies consistent with sustainable development.
At the Astana conference, the host country Kazakhstan proposed improvements to the Charter, including a voluntary dispute settlement mechanism and the creation of a post of ombudsman for the protection of energy sector investment. (EH)