President of EU Energy Council Bartenstein: EU and Russia need a new-style energy partnership

Main topics at the G8 meeting in Moscow were energy efficiency and the Energy Charter

Martin Bartenstein, President of the EU Energy Council and Minister of Economics and Labour, advocated a "new-style energy partnership" between the European Union and the Russian Federation this Thursday at the G8 Energy Ministers Conference in Moscow: "It is important in this connection for foreign investors to have access to Russia, just as Russia's Gazprom already has access to Europe's capital and energy markets. The EU certainly has no problems with such reciprocity".

Bartenstein also sees a special need for action on Russia's part to increase energy efficiency: according to the latest estimates of the International Energy Agency (IEA), nearly a third of the volume of Russia's gas exports is lost each year within the country through inefficiency, while a direct comparison shows Austria's energy efficiency to be nearly ten times that of Russia.

In Bartenstein's view, Russia as an energy supplier and the EU as an energy consumer are mutually dependent. Nearly 90% of Russian exports concern energy deliveries, which are as indispensable to the EU as are the revenues to Russia. It is therefore important that Russia also ratifies the Energy Charter already negotiated as soon as possible, and ideally before the summer. This is an agreement aimed at providing security for investment in the energy sector. As Bartenstein reported from today's round of negotiations, the Russian side has been very reserved in its response, while at the same time pressing for treaty negotiations with the EU on a transit protocol to guarantee the freedom of energy transit through (existing) grids.

According to Bartenstein, diversification of both energy sources and transport paths is indispensable for increased security of supply for the European Union. Accordingly, the construction of new pipelines such as 'Nabucco', running from the Caucasus Region through Turkey, and the greater use of liquefied gas are becoming increasingly important.

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