G-8 Energy Ministers Meeting:
Co-Chairs' Statement
May 2-3, 2002, Detroit
The G8 Energy ministers met in Detroit, Michigan, on May 3, 2002, to
discuss issues of common interest.
We discussed the key role that energy plays in our economies, and
how vital it is to economic and social development around the world. Access
to secure, economical and reliable supplies of energy is a linchpin of
progress.
We believe energy security and flexible emergency response are
critically important in today's world and agreed to continue close
cooperation in enhancing them. We support continued efforts to reduce oil
price volatility and enhance energy security through increased reliance on
market forces, diversification of energy supplies, increased efficiency of
energy use, improved data and better communications. We believe that a
regular open dialogue among energy producers and consumers can strengthen
energy security. We support efforts to improve the availability, quality,
compatibility and sharing of energy market data. This issue will be
addressed at the Eighth International Energy Forum in Osaka.
We reaffirmed the necessity of being prepared to respond to oil
disruptions. We agreed on the importance for net oil importing countries of
maintaining emergency oil stocks and of commitments to coordinate their use
during significant disruptions. We recognize the value to all of us when
other countries, including those in Asia whose energy demand is projected to
increase sharply, build similar stocks to improve their resilience in the
face of oil supply disruptions. We will share our experiences with others on
effective means of doing so. We agreed on the importance of physical
protection of energy facilities, as well as the value of flexible oil, gas
and electricity transport networks with multiple links between energy
suppliers and consumers, to reduce the vulnerability to disruption of these
critical resources.
We discussed how energy security, economic growth, environmental
protection and, therefore, sustainable development are supported by improved
energy efficiency, and diversification of energy sources and fuels.
Countries can improve their ability to respond to changing energy supply
conditions through increased energy efficiency and a mix of energy sources
and types C oil, gas, coal, nuclear and renewables C chosen by each country
as most appropriate. Most G8 members stress the value of nuclear energy in
this context, providing optimal safety and waste handling are ensured. These
actions also can help countries address climate change by reducing the
greenhouse gas intensity of energy production and use. We reaffirm the
importance of renewable energy for diversification of energy supplies, as
recognized at the Genoa G8 Economic Summit. We also recognize that
competitive markets and liberalized trade in energy and energy services can
help us meet energy security and environmental objectives in a
cost-effective fashion.
We believe that continued research, development, demonstration and
deployment of a broad array of energy technology options will play an
essential role in diversifying the energy mix and reducing the environmental
impacts of energy production and use, thereby making a vital contribution to
sustainable development. We will explore areas where existing cooperation
among our countries in energy science and technology might be strengthened,
particularly in the areas of emerging renewable energy, energy efficiency
and cleaner energy technologies. We will also review ways in which technical
information is exchanged and disseminated both among G8 members and between
developed and developing countries, with a view toward improving that
exchange in order to accelerate the contribution of technology.
It is important that clean, reliable and affordable energy be
available for all. We are committed to providing constructive and
substantial input on energy to the World Summit on Sustainable Development
and other similar fora. We will continue to encourage the development and
introduction of clean energy technologies, including renewable energy, as
well as the improvement of energy efficiency.
Significant investments will be needed in energy development,
production and infrastructure, as well as in improved energy efficiency, to
meet growth in demand for energy services in an environmentally sound way.
To meet growing energy needs, countries must foster a favourable investment
climate by ensuring open markets with transparent business practices and
stable regulatory frameworks. We encourage giving due consideration to
energy in the formulation of development assistance programs, Ultimately,
success in enhancing energy efficiency and improving access by the public to
clean energy technologies depends critically on private investment
facilitated by sound policies. We therefore affirm the importance of working
with developing countries to share experiences with respect to legal, policy
and regulatory practices that can facilitate investment and access to
energy.
We asked our energy officials to follow up on some of the issues we
have discussed, including in the areas of energy technology and cooperation
with developing countries. We believe that more regular contact among our
energy officials will help us continue to make progress on our common goals.
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