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International Energy Charter discussed in St. Petersburg

Modernisation of the International Energy Charter as an element of global energy transformation effort has been discussed in depth at the X International Scientific Conference - ENERGETIKA XXI - in St. Petersburg, Russian Federation. Energy Charter Secretary General Dr. Urban Rusnák presented to the audience recent achievements of the modernisation and expansion of the International Energy Charter. 

One of the key features of the Energy Charter Treaty, investment protection, is set to play a pivotal role in reducing risks of private foreign investment in the energy sector. With its  newly developed Energy Investment Risk Assessment initiative (EIRA), the Energy Charter Secretariat is contributing to better governance in the energy sector of participating countries. Contracting Parties to the Energy Charter Treaty (1994), the single most used international investment agreement worldwide according to the UNCTAD, are considering to open a discussion on its possible adaptation for better serving its Members during the ongoing global energy transition.

On the margins of the conference Dr. Rusnák met with high level representatives from Russian energy companies.