Friday, July 14, 2006

G8 to discuss aid to Africa Climate change Blair initiative

Aid to Africa and efforts against climatic changes have appeared on the St. Petersburg G8 summit agenda on the initiative of Tony Blair, Great Britain's Prime Minister. As energy security comes under discussion, the Prime Minister intends to focus attention on climatic change problems, thus to go on with debates started in Gleneagles. The theme will persist during the German and Japanese G8 presidencies, said a functionary directly involved in summit preparations.

Mr. Blair also intends to call summit attention to the necessity to elaborate an international instrument that would replace the Kyoto Protocol as it expires in 2012. This will encompass bringing in non signatories to the present sunset treaty!.The emphasis in conjunvtion with the Russian initiative on global energy security and innovative technologies.

Vice-Speaker of the Duma Vladimir Pekhtin said that Russia expects the G8 summit to support its efforts to ensure reliable demand for energy.

"It goes without saying that every country has its own interpretation of energy security. For Russia, energy security primarily implies a reliable and long-term demand for oil and gas, as well as Gazprom's access to the local European networks. I hope that the G8 will make a balanced and clear-cut decision, and that this decision will benefit not only the producers but also the consumers of fuel," Pekhtin said.

He told journalists that as the G8 president, Russia has suggested a new concept of energy security: security of demand.

For suppliers this concept means adequate demand for energy at reasonable prices. This allows them to recoup their investment in the energy sector and develop it further. Pekhtin said that Russia is very interested in receiving political support for this concept.

In order to make the energy market secure, it is primarily necessary to make it transparent, predictable and stable, he said.

"Continued dialogue between energy producers and consumers, fair distribution of investment risks, and free flow of capital will facilitate the achievement of this major goal," Pekhtin said.
In turn, Chairman of the Duma Committee on Economic Policy, Entrepreneurship, and Tourism Valery Draganov noted that the progress of the world community directly depends on a reliable and adequate supply of energy.

"At present, the energy supply system has become so global that any mishap in its functioning is inevitably felt by all. This is why any attempt to redress the situation can be done through coordinated international actions," he concluded.


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