Turkmenistan representative take part in negotiations on the modernization of the Energy Charter Treaty

The second negotiation round on the Modernization of the Energy Charter Treaty started on September 8, 2020 in a videoconference format.

The heads and representatives of the “Türkmennebit” and “Türkmengaz” State Concerns, as well as the Ministry of Foreign Affairs, the Ministry of Justice, the Ministry of Finance and Economy, the Ministry of Energy, the Ministry of Trade and Foreign Economic Relations take part in the negotiations.

At present, the Energy Charter Treaty is the only multilateral agreement that is aimed at solving various political, economic and legal issues with regard to the inter-national trade in energy resources and their transit through interstate oil and gas pipe-lines, as well as through power transmission lines. More than 50 countries, including Turkmenistan, signed the agreement.

The agenda of the negotiations includes such important issues as the transit of energy resources, access to infrastructures, principles of price formation, sustaina-ble development and corporate social responsibility, dispute resolution, as well as the transparency of the actions taken by the participants in transactions and agreements in the energy supply segment.

The participants in the online meeting expressed a common opinion on the need to reassess the rights and obligations of the parties to the Treaty, including in the field of transit, investment, energy security and energy trade.


Source: Turkmenistan: the Golden Age Online Newspaper

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