EUROPEAN-RUSSIAN ENERGY CO-OPERATION

Summary

That this House notes the developing conflict between the high prices of oil maintained by the OPEC countries and the priorities of consumers and governments Europe-wide; notes that changes over the past decade have positioned the Russian oil industry ideally to provide a stabilising role in the global oil market and to assist European markets diversify their sources; and urges Her Majesty's Government to support the EU initiative towards a strategic energy agreement with Russia discussed at the Paris Summit on 30th October, which seeks to provide a secure strategic energy source to supplement OPEC and which would provide reciprocal benefits to the peoples and economies of Russia and the EU countries.

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