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Energy: Russia

Volume 471: debated on Tuesday 29 January 2008

To ask the Secretary of State for Business, Enterprise and Regulatory Reform if he will hold discussions with the Russian government on the energy charter treaty. (181474)

The energy charter treaty remains the only multilateral instrument providing a rules-based framework for trade, investment protection and transit of energy products and services, backed up by legally binding dispute resolution mechanisms. HMG supports the energy charter treaty as a valuable instrument in our objective of promoting open, competitive international energy markets.

Russia is a signatory to the energy charter treaty, and claims to apply the treaty provisionally. Russian ratification of the treaty remains our goal. Our bilateral and multilateral discussions with Russia, together with the regular meetings of energy charter treaty signatories, provide opportunities to demonstrate the continuing value of ECT ratification.