On May 21, 2015, on behalf of Ukraine Minister of Energy and Coal Industry Volodymyr Demchyshyn signed the final document of the International Conference (Hague II) under to the International Energy Charter.
The preliminary Agreement, the so-called European Energy Charter, needed thorough modernisation due to the change in the overall situation in the global energy sector. There appeared the necessity to update the given Contract according to contemporary challenges and demands of the energy market.
The principal objective for the signatory countries (about 70 in number) is to ensure energy security and sustainable, predictable development aimed at meet the growing demand for energy in the world.
Apart from that, the International Energy Charter expands the geography of its actions.
It is a strategic goal for Ukraine to join the International Energy Charter. This allows us to ensure the support of the countries that share the same principles of action in the energy field and ready to face together all current and future challenges in energy sector.
This document shall not be binding, but emphasizes common aspiration to all signatories to ensure energy security in the world, including Ukraine.
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