More than 30 nations met in The Hague in December to sign the European
Energy Charter. The US, Canada, Japan and most of Eastern and Western Europe,
including 11 former Soviet republics, pledged mutual commercial access and
free trade in energy resources. A major aim of the charter, a Dutch initiative,
is to allow western oil companies access to huge oil and gas reserves in
the former Soviet Union.
The charter says safety and environmental protection in the energy business
should be 鈥榓t high levels鈥�, and that signatories should exchange research
and technology and coordinate energy policies to ensure they meet international
environmental agreements. It also says 鈥榤arket-oriented energy prices鈥� should
鈥榤ore fully reflect environmental costs and benefits鈥�.
Protocols on energy efficiency, modernisation of power stations, coal
technologies and standardisation of gas and electricity transmission systems
will be added to the charter next year.
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