BRUSSELS, Oct. 16 (Xinhua) -- Russia will maintain
stable energy supplies to the European Union (EU) despite rising oil prices,
Russian Energy Minister Viktor Khristenko said here Tuesday.
"We all agree on one objective, that is, we want to
ensure the security of the energy supply; we want to ensure predictability which
will allow for sustainable development," Khristenko told a press conference with
EU Energy Commissioner Andris Piebalgs.
Asked whether record-high oil prices will have an
impact on the Russian gas supply to the EU in the coming winter, Khristenko
said: "I don't expect major price changes compared to the current situation."
He said high oil prices would not be a hindrance to
Russian commitments to foreign partners.
Russia is the major gas supplier to the EU.
Piebalgs said the EU is not concerned about having
enough gas supplies in the coming winter as storages are already there. "I have
no doubts about security of supply for this winter."
The two men are in Brussels for an EU-Russia energy
dialogue, a mechanism dating back to 2000.
They signed a general report prepared for the
EU-Russia summit to be held later this month in Lisbon, Portugal.
Khristenko said the two sides agreed to create an
early warning system on energy. The system would be in two phases: phase one
involves the exchange of information and consultations on issues of strategic
importance, such as energy legislation; phase two involves exchanges on
significant issues that would give rise to difficulties, either in terms of
supply or demand.
Khristenko said his country wants to invest more in
the European energy sector. Russian investment in the EU in this sector amounts
to only 7 to 8 billion U.S. dollars, while the EU has invested 55 to 58 billion
dollars in Russia, he said.
The two sides have also agreed to allow experts to
look into the implications of a major EU energy policy initiative: the dividing
up of the European energy market -- the separation of supply and distribution of
energy.
Russia has agreed to reserve its political position
on this issue pending the judgment of experts. Piebalgs appreciated Russia's
"very practical" approach.
"We are interested in active consultations with our
European colleagues on new energy initiatives," Khristenko said.
The EU is highly dependent on its energy supply from
Russia with over a quarter of its oil and gas deliveries originating from
Russia.
