Energy Charter meeting to take place in Cyprus

The 24th Meeting of the Energy Charter Conference, based in Brussels, will be taking place in Cyprus on December 9 and 10, 2013, followed by the Ministerial Meeting, which will focus on the protection of energy investments, in the light of the 15th anniversary of the Energy Charter Treaty.

The Energy Charter was set up in the early 90s and is the sole international legally binding body for the protection of investments in the energy sector. The Meeting, which is the governing and decision-making body, takes place on an annual basis and is hosted by one of the member states.

The organisation has 52 members, including all EU member states, and 27 observers. Its main aims are to protect investments, trade and transit, solving differences, and energy performance.

The Energy Charter plays an important role in strengthening global energy safety on the basis of the principles of competition, free markets and sustainable development.

Cyprus has additionally taken over the presidency of one of the most important committees of the organisation, the Investments Committee. At the previous Meeting in November 2012, in Warsaw, President of the Cyprus Energy Regulatory Authority George Shammas was appointed President of the Investments Committee for the year 2013 and presided over the first meeting of the Committee on May 15, in Brussels.

The Investments Committee is the body of the organisation that investigates all issues concerning investments and its main purpose is to promote investments in the energy sector and reduce restrictions.