Nehustan
Well-Known Member
Finance ministers from the G8 group of industrialised nations say the global economy has remained strong.
But the ministers, who were meeting in the Russian city of St Petersburg, said they were concerned about the risk from high and volatile energy prices...
...Energy security
The ministers also underlined the need for the diversification of sources to ensure future energy security.
They called on more transparency and greater investment, so that energy supplies and prices could become more predictable.
Concerns were raised last winter about Russia's dominance of the European energy market after Moscow turned off gas supplies to Ukraine.
Russia now rivals Saudi Arabia as the world's largest energy exporter, but the disagreements with Ukraine last year caused international concern about relying on it as an energy supplier.
Western nations say Russia should open up its own energy resources and pipelines because more transparency and more competition will ensure cheaper, stable supplies. Russia says it is a reliable partner and wants to buy energy distribution networks in Europe.
But the ministers, who were meeting in the Russian city of St Petersburg, said they were concerned about the risk from high and volatile energy prices...
...Energy security
The ministers also underlined the need for the diversification of sources to ensure future energy security.
They called on more transparency and greater investment, so that energy supplies and prices could become more predictable.
Concerns were raised last winter about Russia's dominance of the European energy market after Moscow turned off gas supplies to Ukraine.
Russia now rivals Saudi Arabia as the world's largest energy exporter, but the disagreements with Ukraine last year caused international concern about relying on it as an energy supplier.
Western nations say Russia should open up its own energy resources and pipelines because more transparency and more competition will ensure cheaper, stable supplies. Russia says it is a reliable partner and wants to buy energy distribution networks in Europe.