On behalf of the hosting country of
Cyprus, I would like to welcome you all to this Press Conference for the 24th
Meeting of the Energy Charter Conference, co-organised in Nicosia by the
Ministry of Energy, Commerce, Industry and Tourism and the Energy Charter
Secretariat. It has truly been a great honour for our small island to be
hosting this year’s Meeting, welcoming in Cyprus more than 140 representatives of
89 members and observers of the Energy Charter, that include, amongst others, the
European Union, the Organisation for Economic Cooperation and Development and
the United Nations Economic Commission for Europe.
As I am certain that you are already
aware of, the two day Meeting began yesterday with a Ministerial Session,
during which a well selected panel of speakers, Ministers, technocrats,
stakeholders and academics, exchanged views and concerns regarding energy
investments and their protection. By assessing the last fifteen years of
practice and theory in energy investment promotion and protection under the
Energy Charter Treaty, we were in fact able to see how the Treaty has progressed
since the early nineties – when it emerged as a declaration of political will to
promote cooperation in energy – how it is currently put into practice and, more
importantly, how it can be enhanced further.
As a legally binding multilateral
instrument, the Energy Charter Treaty contributes greatly in promoting the investments
that bring energy across the borders and seas, between the countries of
Eurasia. Moreover, its fundamental objective, of ensuring the creation of a
level playing field and medicating investment risk in the energy sector between
exporting, transit and importing countries, is of the outmost importance to all
its members, especially Cyprus.
For Cyprus, which still remains an
isolated energy market at the heart of the South Eastern Mediterranean, energy
investments are becoming increasingly important. The European targets set for
completing the internal energy market and ending energy isolation, pave the way
for energy interconnections with Europe and neighbouring countries.
Additionally, the recent hydrocarbon discoveries in Cyprus’ Exclusive Economic
Zone, necessitate both binding agreements with our neighbours based on
International Law, as well as a number of different investments in large scale oil
and gas infrastructure.
Today’s statutory session is focused on
the internal workings of the Energy Charter Process itself, reaching important
decisions on a number of technical, legal and financial issues, that will
ensure that the Energy Charter remains productive and relevant to the current
energy trends and demands. In addition, the progress of the Working Groups
during last year was reviewed and Energy Charter members agreed on action plans
for the years ahead.
Specifically, two important milestones
were established during this Conference in Cyprus. The first one, is the laying
down of new rules and procedures regarding the designation of future chairmanships
of the Conference, which now will be the responsibility of countries instead of
individuals and with our dear friends from Kazakhstan having this
responsibility for the year 2014. This will enable a deeper and more direct
involvement of the member countries in the Energy Charter Process. Secondly, a
clear mandate was given for the updating of the Energy Charter Declaration
Document, which will open the process to more countries outside the
constituency. More information on the results will be provided by our dear
friend, Secretary General Ambassador Urban Rusnak in a few moments.
Overall, I would assess the work
conducted in Cyprus during this two-day Meeting of the Energy Charter
Conference – and I am certain that the Secretary General agrees with me – as
extremely productive. I am also positive that through the sessions held, the
countries participating have gained a better understanding of the existing
global concerns and challenges and that the conclusions reached will go a long
way towards enhancing the Energy Charter’s international role in promoting and
protecting energy investments.
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