Russia unveils new energy pact

Russia unveiled a draft energy pact Tuesday saying energy consumers and producers should share responsibility for the security of gas transit, an apparent rebuff to Europe’s efforts to sideline Russia in sweeping reforms of neighboring Ukraine’s energy sector.

President Dmitry Medvedev presented the broad-ranging proposals during a two-day visit to Finland that ended Tuesday, suggesting the new document should supplant previous agreements, including the European energy charter.

Russia has never ratified the 1991 European energy charter, an international treaty meant to respect fair trade in energy and offer foreign investors fair access to Russian oil and gas deposits and export pipelines. Russia has resisted efforts to allow foreigners easy access to ownership of its natural resources and to break up its export monopolies.

Many of the new proposals, published in full on the Kremlin’s Web site on Tuesday, are devoted to global energy security and conflict resolution regarding the transit of energy supplies, such as gas.

The document calls on producers, buyers and transit states to share responsibility for the stability of supplies, including by monitoring of gas supplies and coordinating investment in pipeline systems. It also demands tougher rules to enforce contractual obligations.

AP