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Russia calls for new global energy pact

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Russia calls for new global energy pact

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Russian President Dmitry Medvedev says he wants to sign a new global energy pact to ensure the security of supplies.

Speaking on a state visit to Finland, Medvedev said the new document would replace the 1991 European Energy Charter, which Russia refuses to ratify, claiming it does not balance the interests of providers, consumers and transit states. Russian Foreign Minister Sergei Lavrov is among the high-ranking officials with Medvedev in Helsinki. No major agreements are likely to be signed, but cooperation on projects like the Nordstream pipeline is high on the agenda. Medvedev said: “Projects of this kind create the framework for energy security in Europe; the availability of several gas supply routes increases this security, it does not decrease it. And we’ll certainly continue this work, while respecting all the ecological requirements.”