Ashgabat Energy Charter Forum Renders Support For Multilateral Agreement On Energy Sources Transit

From SIti Hawa Othman ASHGABAT (Turkmenistan), June 1 (Bernama) -- The Ashgabat International Energy Charter Forum ended Wednesday with delegates rendering support towards the need to achieve a multilateral framework agreement on transit of energy resources. The forum hosted by Turkmenistan as Chair of the International Energy Conference 2017 adopted a concluding statement at the end of the two-day forum, participated by more than 80 high-level officials and leading experts from the 50-member states and observers, international energy and financial organisations, energy companies, and others. During the forum, issues of transit and cross-border transportation of energy resources, including natural gas, oil products and electricity, were discussed. Energy-importing countries depended on foreign resources for a proper functioning of their economy, hence, they are interested in the continuity of energy product flows to their borders. On the other hand, energy-exporting countries and their enterprises place great emphasis on the issue of market stability as foreign trade is a vital source of their income. Ultimately all countries are interested in minimising transit risks to ensure their own security. Nevertheless, the document noted that the creation of an international legally binding transit regime for cross-border transportation of natural gas, electricity, and oil is a complex task and will depend on the political will of member countries. The forum called for active participation of United Nation regional commissions, international energy and financial organisations, taking into account the accumulated experience, in the practical work on drafting a Multilateral Framework Agreement. As for the subsidiary bodies of the Energy Charter Conference, they are currently working towards developing the conditions for starting negotiations on the framework agreement. -- BERNAMA