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EU (European Union) has urged Russia & other nations to make commitments for long-term energy agreements, which will ensure them investments & customers, while securing reasonable energy supplies for EU
The appeal, made on first day of the two-day official conference consisting of 25 EU countries and oil & gas exporting nations, highlighted the desire of Western Europe to give high priority to energy as its demand is rising, and its own energy supplies are diminishing whilst international costs are high. The appeal is made to convince Poland in signing the Russia cooperation agreement, due to launch on November 24, 2006. The row centers on Russia's ban on Polish meat & vegetable imports. Poland rates the ban as highly political & claims a loss of US$ 513 Million every year as a result of the ban. Russia initiated the embargo after it found forgery in few veterinary certificates. Inspectors from EU have been assigned to ensure tightened controls in Poland but Russia is asking to deploy its own inspectors to verify things. Poland is demanding a re-opening in Russian markets & has threatened to boycott the agreement, which must have signatures from all EU nations. Worldwide consumption of energy is all set to grow by 50% till 2031, according to EU. EU has the largest energy imports in the world & the region is the world's second largest consumer. It presently imports 50% of the energy. With the reform policy, EU said, this will increase to 70% by 2031. With newly industrializing countries like India & China chasing more & more energy resources, EU has called for a strategic & unified thinking, which will maintain competitiveness in EU region, safeguard its environmental objectives & ensure secure supplies. An analyst at RNCOS, specializing in Energy sector said "As Russia energy pact looks in jeopardy, EU nations are looking to reduce their demand. However, EU's aim to involve Russia for securing its energy requirements can succeed, if member nations are ready to trade with Russia as a single entity, with own terms & conditions." |
