Russia to address energy security at G8 energy ministers meeting

Moscow (Platts)--15Mar2006

Russia plans to address a number of global energy issues, including security, at a meeting of the Group of Eight energy ministers in Moscow Wednesday and Thursday, Russia's energy minister Viktor Khristenko told reporters late Tuesday.

Russia will raise the issue of energy transparency, renewable energy development, energy efficiency and saving and the environmental aspects of energy security, the minister said. Iran's nuclear program may also be addressed at the meeting.

The development of nuclear power energy and hydropower generation will also be discussed, as well the LNG market because it is "of interest and understanding for all participants, not only the G8 but all the biggest emerging markets," Khristenko said.

"For Russia. it is a new topic. It start is connected with the Sakhalin offshore and the Shtokman project," he added.

"There are other special formats aimed at finding solutions for these situations, but I think this episode may be considered as one the directions for understanding the risks of global energy security," Khristenko said.

The minister also called for a multilateral dialogue between energy producers and consumers not limited by G8. "It is impossible to discuss perspectives of traditional sectors of hydrocarbons without understanding and discussing with China, India, Mexico and Brasil and OPEC," he said.

"We are doing our best for the G8 to conduct such a dialog with these organizations and ministers of these countries to get a clearer picture, and for this dialogue to be a regular tool for finding ways and decisions," he said.

Kicking off the G8 energy ministerial meetings, bilateral meetings will take place Wednesday, followed by Khristenko's welcoming speech on Thursday, where the goals and key issues of discussions will be outlined, the ministry said in a statement Wednesday.

Russia's President Putin is expected to join the meeting with energy ministers, Khristenko said Wednesday, noting the importance of the upcoming event as a preparation for the July summit of G8 leaders in St. Petersburg.

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