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Talks over Energy Charter Treaty's modernization to start soon

Talks over Energy Charter Treaty's modernization to start soon

Economy
04 July 2020, 14:57 169
Azerbaijan’s Minister of Energy Parviz Shahbazov and Secretary General of the International Energy Charter Urban Rusnak discussed issues related to the modernization of the Energy Charter Treaty during a videoconference, Trend reports referring to the ministry.
According to the ministry, the participants also mulled measures to be taken within Azerbaijan's chairmanship of the Energy Charter Conference this year.
"The sides exchanged views on the positions of member states in the process of modernization of the Energy Charter Treaty and organization of the Working Group on modernization,” the ministry said.
Secretary General Urban Rusnak stressed the importance of adapting the Energy Charter Treaty to the modern requirements of the global energy sector and said that the first phase of the negotiations on the process of modernization will begin next week.
Minister Parviz Shahbazov noted that Azerbaijan's proposals for the modernization of the Energy Charter Treaty were submitted in 2019 and consultations with state bodies are currently underway.
"Given the fact that decisions are made on the basis of consensus for the International Energy Charter, it is also important for the parties to actively participate in the negotiation process in order to reach a common agreement on the modernization of the contract,” the ministry said.
During the video conference, technical and organizational issues related to the preparation for the Energy Charter Forum, 31st International Energy Charter Conference and Ministerial Meeting planned to be held in Baku were also reviewed.