Bodman to promote energy security during G8 meeting in Moscow

Washington (Platts)--15Mar2006

US Energy Secretary Samuel Bodman plans to use a G8 ministerial meeting in Moscow Thursday to promote advanced energy technologies, stable investment climates and increased reliance on conservation as a means of improving energy security.

Bodman, who arrived in Moscow Wednesday, also intends to meet separately with Russian officials to discuss nuclear security, natural gas and oil, the Department of Energy said.

"As economies around the world grow, we will all need more safe, affordable and dependable supplies of energy," Bodman said in a statement. "The United States and our G8 partners must expand and strengthen our relationship to mitigate the effects of energy supply disruptions, promote a market-based investment approach and advance clean energy technologies, including renewable energy, clean coal and emissions-free nuclear energy."

Bodman, who will lead the US delegation to the G8 ministerial meeting, will discuss market-oriented approaches to energy that encourage investment, competition, transparency and reliability, DOE said.

In addition, Bodman intends to highlight at the meeting strategies for mitigating energy supply disruptions, including maintaining emergency stockpiles, diversifying global transit routes, and strengthening infrastructure security, DOE said.

On Wednesday, Bodman is scheduled to address the Carnegie Moscow Center on the Global Nuclear Energy Partnership, a Bush administration initiative meant to demonstrate new technologies to recycle spent nuclear fuel, minimize waste and keep nuclear materials out of the hands of terrorists.

DOE said Bodman would meet with Russian officials to build up cooperation between the US and Russia on nuclear security, encourage approval of an expansion of the Caspian Pipeline, and welcome Russia's efforts to develop a liquefied natural gas business.

"The secretary will discuss adoption of an international standard of transparency and corporate governance [for] state-owned companies and promote stable and transparent market practices to promote foreign investment," DOE said.

Bodman's visit will include talks with First Deputy Prime Minister Dmitry Medvedev, Deputy Head of Presidential Administration Igor Sechin, Minister of Industry and Energy Viktor Khristenko and new RosAtom Director Sergey Kiriyenko.

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