Ashgabat Declaration of the Energy Charter was adopted: to the integration of regional markets
November 30, 2017 | 13:37 |702
Today, the Ashgabat Declaration of the Energy Charter was adopted. The document contains the fundamental principles for further work of the Energy Charter Secretariat, which will be aimed at increasing investment and strengthening security in the energy sector at the global level. The document also suggests that the participants and observers of the organization will enhance their cooperation and join the Energy Charter Treaty (ECT). As Secretary General of the Energy Charter Urban Rusnak stressed, official documents within the framework of the Energy Charter contribute to the stabilization of energy resources in the market by creating a common legal framework that is beneficial to all parties of the agreements.Eziz OVEZOV
At the end of the 28th session of the Energy Charter conference, delegates agreed that today the energy market is moving from traditional bilateral agreements on supplies to something more - a transnational energy network that connects the continents and creates a new world market. In this regard, it is especially important to make sure the security of this market, which, at the slightest change or imbalance, affects the economy of all states of the world.
Based on the foregoing, delegates to the current Conference approved the need for a gradual modernization of the ECT and the activities of the Secretariat tobe moved to the right path so as to enable them to increase the security of the energy market.
- At the previous conference in Tokyo, we said that the probability of introducing changes in the ECT is not great, - Urban Rusnaksaid on the basis of the conclusions of the Conference. - But here in Ashgabat we see the general support and unanimity of the opinions of all delegations that consideration of the modernization process is necessary.
ECT and its instruments form an international legal framework for investment, reduce the risk in their implementation by reducing the technical and financial costs of increasing the economic potential of projects.
Turkmenistan has become an excellent platform for discussing important issues in the energy sector, once again proving that our country is the place of accommodation of a universal consensus on the most pressing issues of our time.
