(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 9
By Jeila Aliyeva - Trend:
Participants of the Energy Charter Treaty discussed issues of transit of energy resources during the second round of international negotiations of Energy Charter Treaty Modernization Group, which began on September 8, 2020 via videoconferece and will end on September 11, Trend reports with reference to the Ministry of Foreign Affairs of Turkmenistan.
In addition to the issues of energy transit, the parties also discussed issues of access to infrastructure, definitions and principles of tariff formation, dispute resolution, as well as transparency of actions of participants in transactions and agreements in the field of energy supplies.
Also, the participants concluded that the rights and obligations of the parties to the treaty should be re-evaluated in such areas as transit, investment, energy security and efficiency, and energy trade
The Energy Charter Treaty is a multilateral agreement signed to resolve various political, economic and legal issues related to international trade in energy resources and their transit through interstate oil and gas pipelines, as well as power lines.
The agreement was signed by more than 50 countries, including Turkmenistan, the UK, European Union countries, Azerbaijan, Kazakhstan, Uzbekistan, Turkey, etc.
Earlier, on June 2, 2020, Turkmenistan and other members of the Energy Charter modernization group expressed their intention to ensure the stability of energy transit, for which they stressed the need to coordinate efforts in these areas.
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