INTERNATIONAL ECONOMY
24.02.26 21:45
"The Participants commit to mobilizing public and private sector funding [...] to achieve the national and regional energy goal of ensuring a secure and affordable natural gas supply throughout Central and Eastern Europe," they note, among other things.
A joint statement on strengthening natural gas supply security in Central and Eastern Europe was signed by the Energy Ministers of Greece, Bulgaria, Hungary, Poland, Romania, Slovakia, Moldova, Ukraine, Croatia, Lithuania, Serbia, Bosnia and Herzegovina, and the United States of America.
"The Participants intend to work to increase natural gas market transparency, harmonize natural gas exchanges, promote efficient and cost-effective regulatory pricing frameworks, and mitigate or, where possible, eliminate regulations that would impede natural gas imports, the construction of new natural gas infrastructure, and the long-term stability of natural gas trade.
"The Participants commit to mobilizing public and private sector funding, including export credit agencies and multilateral financial institutions, to achieve the national and regional energy goal of ensuring a secure and affordable natural gas supply throughout Central and Eastern Europe," they agreed, among other things.
On behalf of Greece, the joint communiqué was signed by the Minister of Environment and Energy, Stavros Papastavrou. The statement highlights, among other things, the need for full utilization of infrastructure, as well as the elimination of regulations that hinder natural gas imports. Special mention is made of Ukraine's underground natural gas storage facilities which, it is emphasized, should be integrated into regional natural gas markets and a trading hub, supporting the country's economic recovery and reconstruction.
The joint statement was signed on the sidelines of the Ministerial Summit organized at the Donald J. Trump Institute of Peace in Washington by the White House and the US National Energy Dominance Council (NEDC) on the theme "Transatlantic Gas Security Summit." It is recalled that the summit is chaired by the US Secretary of the Interior and Head of the US Energy Dominance Council, Mr. Doug Burgum, and the US Secretary of Energy, Mr. Chris Wright.
The joint statement of understanding states the following:
RECOGNIZING the strategic relationships among the Participants and the long-standing cooperation among the Participants in the energy, trade, security, and other sectors;
RECOGNIZING the ongoing strong cooperation under the Partnership for Transatlantic Energy Cooperation (P-TEC) and the Three Seas Initiative (3SI);
RECOGNIZING that diversification of natural gas supplies and routes is vital for Europe’s energy security and that past supply dependencies underscored the importance of resilient and diversified energy sources, and that cooperation with the United States will strengthen Europe’s energy resilience and ensure safe and reliable access to natural gas;
RECALLING the threats to Europe’s energy security in 2006, 2009, 2014, 2018, and from 2022 onwards;
NOTING the United States’ leadership in energy abundance, the goals of enhanced regional integration, and enhanced transatlantic energy trade cooperation;
TAKING INTO ACCOUNT the growing importance of liquefied natural gas (LNG) projects in countries such as Croatia, Greece, Lithuania, and Poland as significant investments contributing to energy security and economic prosperity in Central and Eastern Europe;
COMMENDING regional efforts to enhance energy security through increasing the liquidity of regional natural gas markets and through entering into commercial contracts with United States LNG suppliers; and
RECOGNIZING that Ukraine possesses one of the largest underground natural gas storage facilities in Europe, which should be integrated into regional natural gas markets and a trading hub, supporting Ukraine’s economic recovery and reconstruction;
SUPPORTING the shared sense of urgency to re-industrialize manufacturing capacity through strategic policy, capital deployment, and supply chain de-risking, particularly to facilitate the development and expansion of energy systems and infrastructure as a means to promote mutual prosperity, economic resilience, and national security;
The countries concluded the following:
The Participants seek to strengthen the resilience of natural gas markets, fully utilizing existing infrastructure, while making additions, where necessary, in order to increase deliveries and create economies of scale, so as to meet strategic energy priorities.
The Participants seek to continue their cooperation to promote transparent and non-discriminatory access to natural gas infrastructure in Central and Eastern Europe, with the aim of enhancing natural gas supply security for the Signatories.
The Participants intend to work to increase natural gas market transparency, harmonize natural gas exchanges, promote efficient and cost-effective regulatory pricing frameworks, and mitigate or, where possible, eliminate regulations that would impede natural gas imports, the construction of new natural gas infrastructure, and the long-term stability of natural gas trade.
The Participants commit to mobilizing public and private sector funding, including export credit agencies and multilateral financial institutions, to achieve the national and regional energy goal of ensuring a secure and affordable natural gas supply throughout Central and Eastern Europe.
The Participants express their intention and desire to consult regularly on the implementation of the cooperation principles reaffirmed in this Joint Statement.
The Participants are united in their commitment to enhance Europe’s energy security and diversification, ensure a stable and resilient energy supply free from manipulation or coercion, and foster mutually beneficial opportunities for American and European companies.
24.02.26 21:45
"The Participants commit to mobilizing public and private sector funding [...] to achieve the national and regional energy goal of ensuring a secure and affordable natural gas supply throughout Central and Eastern Europe," they note, among other things.
A joint statement on strengthening natural gas supply security in Central and Eastern Europe was signed by the Energy Ministers of Greece, Bulgaria, Hungary, Poland, Romania, Slovakia, Moldova, Ukraine, Croatia, Lithuania, Serbia, Bosnia and Herzegovina, and the United States of America.
"The Participants intend to work to increase natural gas market transparency, harmonize natural gas exchanges, promote efficient and cost-effective regulatory pricing frameworks, and mitigate or, where possible, eliminate regulations that would impede natural gas imports, the construction of new natural gas infrastructure, and the long-term stability of natural gas trade.
"The Participants commit to mobilizing public and private sector funding, including export credit agencies and multilateral financial institutions, to achieve the national and regional energy goal of ensuring a secure and affordable natural gas supply throughout Central and Eastern Europe," they agreed, among other things.
On behalf of Greece, the joint communiqué was signed by the Minister of Environment and Energy, Stavros Papastavrou. The statement highlights, among other things, the need for full utilization of infrastructure, as well as the elimination of regulations that hinder natural gas imports. Special mention is made of Ukraine's underground natural gas storage facilities which, it is emphasized, should be integrated into regional natural gas markets and a trading hub, supporting the country's economic recovery and reconstruction.
The joint statement was signed on the sidelines of the Ministerial Summit organized at the Donald J. Trump Institute of Peace in Washington by the White House and the US National Energy Dominance Council (NEDC) on the theme "Transatlantic Gas Security Summit." It is recalled that the summit is chaired by the US Secretary of the Interior and Head of the US Energy Dominance Council, Mr. Doug Burgum, and the US Secretary of Energy, Mr. Chris Wright.
The joint statement of understanding states the following:
RECOGNIZING the strategic relationships among the Participants and the long-standing cooperation among the Participants in the energy, trade, security, and other sectors;
RECOGNIZING the ongoing strong cooperation under the Partnership for Transatlantic Energy Cooperation (P-TEC) and the Three Seas Initiative (3SI);
RECOGNIZING that diversification of natural gas supplies and routes is vital for Europe’s energy security and that past supply dependencies underscored the importance of resilient and diversified energy sources, and that cooperation with the United States will strengthen Europe’s energy resilience and ensure safe and reliable access to natural gas;
RECALLING the threats to Europe’s energy security in 2006, 2009, 2014, 2018, and from 2022 onwards;
NOTING the United States’ leadership in energy abundance, the goals of enhanced regional integration, and enhanced transatlantic energy trade cooperation;
TAKING INTO ACCOUNT the growing importance of liquefied natural gas (LNG) projects in countries such as Croatia, Greece, Lithuania, and Poland as significant investments contributing to energy security and economic prosperity in Central and Eastern Europe;
COMMENDING regional efforts to enhance energy security through increasing the liquidity of regional natural gas markets and through entering into commercial contracts with United States LNG suppliers; and
RECOGNIZING that Ukraine possesses one of the largest underground natural gas storage facilities in Europe, which should be integrated into regional natural gas markets and a trading hub, supporting Ukraine’s economic recovery and reconstruction;
SUPPORTING the shared sense of urgency to re-industrialize manufacturing capacity through strategic policy, capital deployment, and supply chain de-risking, particularly to facilitate the development and expansion of energy systems and infrastructure as a means to promote mutual prosperity, economic resilience, and national security;
The countries concluded the following:
The Participants seek to strengthen the resilience of natural gas markets, fully utilizing existing infrastructure, while making additions, where necessary, in order to increase deliveries and create economies of scale, so as to meet strategic energy priorities.
The Participants seek to continue their cooperation to promote transparent and non-discriminatory access to natural gas infrastructure in Central and Eastern Europe, with the aim of enhancing natural gas supply security for the Signatories.
The Participants intend to work to increase natural gas market transparency, harmonize natural gas exchanges, promote efficient and cost-effective regulatory pricing frameworks, and mitigate or, where possible, eliminate regulations that would impede natural gas imports, the construction of new natural gas infrastructure, and the long-term stability of natural gas trade.
The Participants commit to mobilizing public and private sector funding, including export credit agencies and multilateral financial institutions, to achieve the national and regional energy goal of ensuring a secure and affordable natural gas supply throughout Central and Eastern Europe.
The Participants express their intention and desire to consult regularly on the implementation of the cooperation principles reaffirmed in this Joint Statement.
The Participants are united in their commitment to enhance Europe’s energy security and diversification, ensure a stable and resilient energy supply free from manipulation or coercion, and foster mutually beneficial opportunities for American and European companies.
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