Energy Charter Conference adopts Ashgabat Declaration

By  Trend

Energy Charter Conference, which assembled in Ashgabat, Turkmenistan, has adopted the Ashgabat Declaration.

High-level representatives from 52 countries and 10 international organizations took part in the 28th meeting of the Energy Charter Conference.

The document welcomes that the Federal Republic of Nigeria, the Republic of Kenya, Burkina Faso, the Republic of Mali, the United Arab Emirates, Panama, and the Republic of Gambia signed the International Energy Charter in 2017 and thus became observers to the conference.

The Declaration acknowledges the important role of the Energy Charter Treaty for the promotion of energy security through energy trade, transit, investment promotion and protection, and energy efficiency.

The document emphasizes that the modernization of the Energy Charter Process is a key to ensuring its potential to strengthen long-term cooperation in the energy field and contribute to enhancing energy security.

The document also emphasizes the importance of fostering innovation in developing energy resources, technologies, technological applications and business models that enable accelerated delivery of global Sustainable Development Goals.

The Declaration stresses that energy sector investments are best served by a stable, predictable and non-discriminatory regulatory framework.

“We acknowledge that promoting quality infrastructure investments is essential for bridging the existing energy infrastructure gap in the world,” the Declaration said.

The Ashgabat Energy Charter Declaration was adopted as a strategic mid-term document towards the next review to be undertaken in 2019.