6 The Preamble

Abstract

This chapter examines the Preamble of the Energy Charter Treaty. The Preamble draws heavily on the ideas and philosophy underlying the European Energy Charter. The Charter constitutes a political commitment to co-operation in the energy sector based on the idea of open and efficient energy markets. It foresees the creation of conditions stimulating private investment based on non-discrimination and respect for state sovereignty over natural resources. The signatories to the Concluding Document agreed to pursue the objectives and principles of the European Energy Charter and to transform them into binding international legal commitments which eventually lead to the Energy Charter Treaty. The signatories are desirous of sustainable energy development—improving energy security and maximising the efficiency of production, conversion, transport, distribution, and use of energy—to enhance safety and to minimize environmental problems, on an acceptable economic basis. Within the framework of state sovereignty and sovereign rights over energy resources and in a spirit of political and economic cooperation, they undertake to promote the development of an efficient energy market throughout Europe and a better functioning global market, in both cases based on the principle of non-discrimination and on market-oriented price formation, taking due account of environmental concerns.