Energy cooperation is economic priority: EU-Russia summit
London (Platts)--11May2005
The EU and Russia pledged to continue cooperation in the framework of the EU- Russia Energy Dialogue during the 15th EU-Russia summit in Moscow Tuesday. Russian president Vladimir Putin and his ministers including the minister for energy and industry Viktor Khristenko and the EU delegation led by Luxembourg prime minister, and current president of the EU Jean-Claude Juncker adopted a package of roadmaps for the creation of four so-called "common spaces" for: economics; freedom, security and justice; external security; and research and education. Energy issues will be addressed within the framework of developing a common economic space, the European Commission said late Tuesday, and will emphasize addressing issues related to sustainability and continued reliability of energy production, distribution, transportation and use. "These Road Maps set out shared objectives for EU/Russia relations and determine the agenda for co-operation between the EU and Russia for the medium-term," the European Commission said. EU-Russian joint energy priorities include energy efficiency, energy saving and the use of renewable energy, according to the roadmap to develop an "EU- Russia economic space." "It is important to promote and protect investments in the energy sector, to facilitate the improvement of the investment climate, promote regulatory convergence and a high standard of environmental protection," the summit delegation agreed. The roadmap foresees convergence of EU and Russian energy strategies, policies and regulatory measures and the conclusion of negotiations on an agreement on trade in nuclear materials. Cooperation on energy infrastructure projects of common interest is also envisaged, as well as an evaluation of mechanisms to cover non-commercial risk of energy projects. The roadmap also calls for agreement on cooperation in the field of safety of transport of energy products, including by pipeline, rail and sea. And cooperation in the field of nuclear energy - especially nuclear safety and nuclear security - is also covered. Scientific cooperation on energy issues between the EU and Russia will be carried out within the framework of the "common space on research and education." The EU and Russia will also cooperate on studies of the feasibility of integrating their electricity markets, "including ensuring a level playing field in terms of equivalent basic rules with respect to market access, infrastructure and opening, as well as compatible environmental protection and safety standards, for electricity production." And the EU pledged to assist Russia in its gas market reforms in line with Russia's 2020 energy strategy. The EU and Russia now plan to launch a full-scale business dialogue of energy companies in Russia and the EU, according to the summit conclusions. The EU-Russia summit delegation also agreed to intensify cooperation in the field of the mining and metallurgical industry. Cooperation should focus on exchange of information and support for preparation of joint programs in areas related to the sustainability of industrial activities, industrial restructuring and regulatory convergence, the roadmap says. There was also scope to work together on analyzing what technical assistance programs are needed for modernisation, technical renovation and training in the mining sector, it added. This story was originally published in Platts European Power Alert http://www.europeanpoweralert.platts.com
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