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Memorandum of understanding on Co-operation in the field of energy between the European Union and the Republic of Kazakhstan |
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MEMORANDUM OF UNDERSTANDING ON CO-OPERATION IN THE FIELD OF ENERGY BETWEEN THE EUROPEAN UNION AND THE REPUBLIC OF KAZAKHSTAN
Having regard to the Communication of the Commission to the Council and the European Parliament on the Development of Energy Policy for the Enlarged European Union its neighbours and Partner Countries of 13 May 2003,
having regard to the Commission's Green Paper on a European Strategy for Sustainable, Competitive and Secure Energy of 8 March 2006,
havingregard to the Conclusions of the Brussels European Council meeting of 23/24 March 2006 which underlined, inter alia, the importance of opening new gas supply routes from the Caspian region,
recalling the conclusions of the Ministerial Conference in Baku on 13 November 2004 on Energy Co-operation between the European Union, the Caspian Littoral States and their neighbouring countries in which the participants agreed on the mutual interest for:
- Supporting the gradual development of regional energy markets in the Caspian Littoral States and their neighbouring countries;
- Enhancing the attraction of funding for new infrastructures;
- Embarking on energy efficiency policies and programmes;
- Making progress towards a gradual integration between the respective energy markets arid the European Union,
recalling that, as a result of the Ministerial Conference, four working groups have been created at a regional level covering:
- The harmonisation of the legal, regulatory and institutional framework;
- Enhancing the safety and security of energy production, transportation and supplies;
- Sustainable development;
- Investment attraction and project facilitation,
recognising the key role of Kazakhstan as a major gas and oil producer in the Caspian Sea region, and the mutual interest of both the European Union and the Republic of Kazakhstan for enhancing co-operation in the energy sector to increase the security of energy supplies and the predictability of energy demand.
Whereas
- The energy sector is strategic for the economic and social development of Kazakhstan and also constitutes a substantial actual and potential external source of revenue. Enhancing consistency with the European Union's internal energy market would offer significant benefits in terras of the stability and attractiveness of the regulatory and investment framework for both International Financial Institutions and the private sector, with possibilities for further development of the resource base and enhancing internal and regional interconnections.
- An enhanced energy co-operation with the European Union could address more specifically those areas not already covered by the regional co-operation, as well as focus more clearly on those issues of particular mutual interest. This could also include improving the safety and environmental aspects of the maritime transportation of oil across the Caspian Sea,