The work at the session ‘market mechanisms of energy regulation and ways of improving them’ has begone

Dear colleagues!

First, let me welcome you to our today’s meeting of the representatives of the leading international energy organizations, companies and scientific institutions, such as IEF, Energy Charter Secretariat, United Nations, KTK, Oil and Gas Institute of the Russian Academy of Science, Edison Institute, Institute of Social and Political Studies of the Russian Academy, and other participants to the International Conference on Energy Security.

As it was stressed many times previously, the issue of global energy security can be understood as the problem of shaping up a stable system of legal, political and economic relations which would enable us to keep the efficiency of the world energy system with the aim to ensure strong demand and reliable supply of energy, stable and effective work of regional and global energy markets with due regard to technological and ecological safety standards.

And, naturally, the problem of global energy security and reliable supply of energy resources to consumers is inseparably linked to the need to set up open and competitive energy markets and further develop market relations in the energy sector. One of the ways to increase global energy stability is to raise transparency, stability and predictability of the international market of energy resources and energy carriers, as well as to create and expand global markets of oil, gas, energy products, new types of energy and new energy technologies.

In this respect, the aim of our today’s session is to consider the issues related to the regulatory mechanisms of the development of energy sector in market conditions, including the key legal provisions, the basic aspects of pricing, taxation and investment policies in energy sector, the setting up of energy markets etc., as well as to explore the possibilities of their amelioration to create the best investment climate.

In the light of the chosen agenda, I would like to point out the particular importance of a constructive dialogue between producers and consumers of energy resources with the participation of such international institutions as the United Nations, International Energy Agency, International Energy Forum, and others, that would mean an exchange of  relevant information and experience, as well as the development and support of specific initiatives, like the initiative on oil statistics (JODI) sponsored by the IEF.

I hope that today’s discussion and exchange of views will contribute to the development of the global energy security strategy.

I wish all the participants to the conference successful and fruitful work.