Civil G8 2006

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News

Russia proposes new energy security concept

01.01.70

Russia during its presidency of the G8 has proposed a new concept of energy security-security of demand, TNK(RTS: TNKO)-BP Executive Director for Gas Projects Victor Vekselberg said at an investment forum in Johannesburg.

"Traditionally, energy security has been understood to mean security of supply, but with Russia's leadership of the G8 a new concept has emerged - security of demand. Security of demand for suppliers of energy resources means adequate demand for their products at a reasonable price. This will make it possible to recover investment made earlier in the energy sector and to advance it further," Vekselberg said.

Vekselberg stated TNK-BP's position regarding high oil prices. "We are working on the world market and as a large supplier of oil we are not interested in working on such a volatile market. We need a predictable market, to plan," he said.

Expert opinion

Halter Marek

02.12.06

Halter Marek
Le College de France
Olivier Giscard dEstaing

02.12.06

Olivier Giscard dEstaing
COPAM, France
Mika Ohbayashi

02.12.06

Mika Ohbayashi
Institute for Sustainable Energy Poliy
Bill Pace

02.12.06

Bill Pace
World Federalist Movement - Institute for Global Policy
Peter I. Hajnal

01.12.06

Peter I. Hajnal
Toronto University, G8 Research Group