Russia and EU to study possibility of combining their energy systems by 2006

Russia and the European Union plan to carry out investigations on integrating Russian and European energy systems before 2006, the press department of the Russian Energy Ministry announced after a meeting between Russian Energy Minister Viktor Khristenko and EU Director General for Energy and Transport Francois Lamoureux. Earlier these investigations were supposed to be finished in 2007, but Russia insisted on shortening these terms.

The two parties have discussed global oil prices. Lamoureux has announced the decision to create a center for monitoring the hydrocarbon market within the framework of the EU. He has offered to let Russian experts work for this center.

The two parties have also considered the issues of constructing a Northern-European pipeline, feasibility investigations for the project and investments in the pipeline. The parties have also discussed projects under the TACIS program and an agenda for the next Russia-EU summit.