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Turkmenistan participates in discussions on updating Energy Charter Treaty

Oil&Gas Materials 9 July 2020 14:34
Turkmenistan participates in discussions on updating Energy Charter Treaty

BAKU, Azerbaijan, July 9

By Jeila Aliyeva - Trend:

Turkmenistan has participated in discussions on updating of Energy Charter Treaty, Trend reports with reference to Turkmenistan’s State News Agency.

During the videoconference, a number of issues were discussed, including the role of the Energy Charter Treaty regarding international investments, specifics of investing in new transit cross-border energy infrastructure, legal and commercial aspects of regulating partnerships between countries and other participants in energy projects.

The parties noted the importance of adapting the Energy Charter Treaty to the modern requirements of the global energy sector, developing common rules that are mandatory for all its participants and minimize the risks associated with financial investments and trade in energy resources.

In this context, the initiative of the President of Turkmenistan Gurbanguly Berdimuhamedov aimed at forming a new global architecture of energy security was emphasized.

Earlier, Turkmenistan and other participants of the Modernization Group of Energy Charter Treaty (ECT) confirmed their readiness to ensure stability of energy transit and highlighted the need to coordinate efforts in this sphere.

The participants discussed issues of modernizing the Energy Charter Treaty and practical, regulatory and legal aspects of energy transit.

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