15 November 2004

Enhanced Energy Co-operation agreement between the European Union, the Caspian Region and their neighboring countries during the Ministerial Energy Conference

On 12-13 November 2004, upon the initiative of the European Commission, the EU-Caspian Energy Ministerial Conference focusing on “Energy Co-operation between the EU, the Caspian Basin and Neighboring Countries” successfully took place at the Hyatt Regency Hotel in Baku Azerbaijan . High level decision makers were present from the Caspian Littoral States (i.e. Azerbaijan , Iran , Kazakhstan , and Russian Federation ), the Neighbouring Countries (i.e. Armenia , Georgia , Kyrgyzstan , Moldova , Turkey , Ukraine , and Uzbekistan ), Diplomatic Corps from the EU Member States and EU Delegations across the NIS and EU.

Over 65 participants attended the Energy Ministerial Conference namely,

• Ministers of Energy of involved countries
• Advisors / Experts to the Ministers of Energy of involved countries
• Representatives of the European Commission ? DG RELEX, DG TREN, EuropeAid
• Representatives of international financial institutions ? EBRD, World Bank ,etc .
• EU Delegations in involved countries

The objective of this conference was to discuss and agree on a new co-operation between the European Commission and the countries of the Caspian and Black Sea Regions aiming at the progressive integration of their energy markets.

The accession of ten (10) new Member States has brought the European Union closer to the countries of the Black Sea Region and the Caspian Littoral States as well their neighbours. Hence, the Conference participants discussed and confirmed the importance of enhancing energy co-operation between the EU and the wider region around the Caspian Sea . Building on the bilateral existing relations between the EU and these countries, the Conference participants in the energy sector agreed to the following orientations for the future:

1. supporting the gradual development of regional energy markets in the Caspian Littoral States and their neighbouring countries in order to facilitate, in the future, the gradual integration between the respective energy markets and the EU market;
2. enhancing the attraction of funding for new infrastructure;
3. pursuing sustainable development by establishing energy efficiency policies and programmes; and
4. using the existing INOGATE Programme structures in order to facilitate the objectives of this enhanced co-operation.

As such, the representatives decided on the creation of working groups for the monitoring and implementation of the above-mentioned objectives.