RIA Novosti: EU Third Energy Package Creates Investment Risks

An EU initiative to liberalize energy markets known as the Third Energy Package poses risks for investment in infrastructure aimed at ensuring the energy security of European countries, Russian Energy Minister Alexander Novak said Thursday.

“The EU’s Third Energy Package, adopted with the goal of liberalizing, diversifying import and increasing energy security, has instead generated risks of insufficient investment in energy infrastructure,” Novak said during the International Energy Forum’s 14th ministerial meeting.

The legislative package for an internal gas and electricity market in the European Union puts at risk “new cross-border energy projects” aimed at ensuring energy security by diversifying energy supplies routes, Novak added.

Russia earlier filed a lawsuit with the World Trade Organization (WTO) over the package, under which companies which produce gas may not be owners of cross-country pipelines in the region.
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