Russia And Energy Security

EDM number 1054 in 2006-07, proposed by Keith Vaz on 07/03/2007.

That this House notes that the agenda for the European Council meeting on 8th to 9th March includes a discussion about how to enhance the security of Europe's energy supplies; further notes that large Western energy companies, including Royal Dutch Shell and BP, have been pressured to cede majority control of oil and gas development projects inside the Russian Federation to the state-owned gas monopoly Gazprom; further notes that the Russian state now has a foothold in the UK energy market through Gazprom's purchase of Pennine National Gas and has raised funds on the London Stock Exchange by floating a minority stake in Rosneft; believes that the Russian Federation's treatment of foreign energy companies represents an unacceptable weakening of property rights at a time when state-owned Russian companies are taking increasing advantage of the relative openness of European markets; further believes that a mutually beneficial energy relationship with Russia must be based on transparency, the rule of law, reciprocity of investment and property rights, non-discrimination and market access; notes that these principles are enshrined in the rules of Energy Charter Treaty, to which the Russian Federation is bound as a signatory under Article 45(1); and therefore calls on the British Government and the European Council to insist that the Russian Federation respect its binding treaty obligations by guaranteeing reciprocal investment and property rights.

This motion has been signed by a total of 43 MPs.