Energy
Article 51
1. Cooperation shall be governed by the principles of the market economy and the European Energy Charter, against a background of the progressive integration of the energy markets in Europe. 2. Cooperation shall concentrate, inter alia, upon the formulation and development of energy policy. It shall include the following areas: — the improvement of the management and regulation of the energy sector in line with a market economy, — the improvement of energy supply, including security of supply, in an economically and environmentally sound manner, — the promotion of energy saving and energy efficiency and implementation of the Energy Charter Protocol on Energy Efficiency and related environmental aspects, — the modernisation of energy infrastructure, — the improvement of energy supply and use technologies across the range of energy types, — management and technical training in the energy sector, — the transportation and transit of energy materials and products, — the introduction of the range of institutional, legal, fiscal and other conditions necessary to encourage increased energy trade and investment, — the development of hydro-electric and other renewable energy resources. 3. The Parties shall exchange relevant information on investment projects in the energy sector, in particular concerning the production of energy resources and the construction and refurbishing of oil and gas pipelines or other means of transporting energy products. The Parties attach particular importance to cooperation regarding investments in the energy sector and the manner in which these are regulated. They shall cooperate with a view to implementing the provisions of Title IV and of Article 44 as efficaciously as possible in respect of investments in the energy sector.