G8 MINISTERS BACKED RUSSIA’S INITIATIVES ON ENERGY SECURITY

Moscow, February 13. G8 finance ministers supported the majority of Russia’s initiatives on global energy security during its G8 presidency, reported Finance Minister Alexey Kudrin to President Vladimir Putin Monday.

He said the G8 finance ministers “favored Russia’s proposal to create a world gas market and backed related projects.”

They also supported the idea of “making broader use of the oil data base system, and possibly, extending it to the gas industry.”

In addition, the G8 finance ministers discussed a number of issues related to alternative energy sources, said Kudrin.

He also said the G8 ministers supported Russia’s proposals “to extend the World Bank’s mandate, and to set up additional facilities for building the energy infrastructure in poor countries.”

“This infrastructure could become a foundation for solving economic problems, and promoting health care and education in the poorest countries,” said the Russian finance minister.