The FINANCIAL — Energy was high on the agenda at the Eastern Partnership Summit in Riga on 21-22 May. Summit participants signed a Declaration, which reaffirms their interest in strengthening energy security, sustainability and competiveness, as well as boosting the diversification of supply. They also reiterated their intention to deepen bilateral and multilateral cooperation in energy.
The Declaration highlights the importance of well-functioning energy markets and the contribution that energy efficiency and renewable energy can make to boosting security of supply, according to EU Neighbourhood Info.
It welcomes progress made on major energy infrastructure projects, and the role of Azerbaijan, Georgia and other countries in the Southern Gas Corridor, which will deliver gas directly from the Caspian Sea to Europe.
Leaders also welcomed an Early Warning Mechanism between the EU and Belarus, which sets out measures aimed at preventing, and rapidly reacting to, an emergency in case of disruption of energy supply between Belarus and the EU.
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