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The review demonstrates how Armenia, following several years of severe power shortages, now has an improving environment for the operation of its energy sector. At the same time, there remain concerns about the implementation of existing legislation, and establishing a record of good governance and completing investment-related legislation is crucial.

In considering this report, the Charter Conference noted the progress made by the Russian Federation in its transition to a market environment and of the improvements in the investment climate, as witnessed by the trend in the inflows of capital. 

Investing in improving energy efficiency has the clear advantages of reducing energy costs, improving security of supply and mitigating the environmental impacts of energy use. And still, many viable opportunities for higher energy efficiency are not tapped because of the existence of numerous barriers to such investments. These lost opportunities imply costs to the individual energy consumers and to the society as a whole and they are particularly important in economies in transition.

The Energy Charter's review of Denmark is notable in that it highlights the policy measures that have made this country one of the world leaders in promoting energy efficiency and sustainable development, providing a useful example to other countries that are in the process of formulating energy efficiency policies and programmes. At the same time, the review finds scope for further cost-effective progress in improving efficiency in the context of a liberalised energy market.

The study of the Czech Republic examines the major changes that have taken place in national energy policy over recent years, and concludes that Czech energy efficiency policies are consistent and realistic. At the same time, it calls for a renewed focus on demand-side measures promoting energy efficiency, alongside policies addressing energy supply, including renewable energy.

This report analyses the present structure of national electricity markets in various parts of the Energy Charter's constituency, and assesses the present volume and growth dynamics of trade in electricity across national boundaries. Existing restrictions to trade in electricity - of a physical, legal and regulatory nature - are examined, including in the context of relevant international trade obligations applying to the Charter's member states through the WTO and the Energy Charter Treaty.

The essence of the concept of third-party financing is that some part of a contract awarded to an energy services company is based on that company's performance in achieving energy savings. Third-party financing thus offers an innovative technique for financing energy efficiency and renewable energy projects.

On 26 June 2003 the Energy Charter Conference welcomed a set of Best Practice Guidelines on Restructuring (including Privatisation) in the energy sector. The aim of the Guidelines is to assist those countries in the Charter's constituency that are in the process of transition to competitive domestic energy markets. The Guidelines provide advice for the governments of such countries, based on analysis of the experience gained and lessons learned by countries that have already introduced competition and privatisation in their energy sectors.

Turkey is characterised by significant growth in energy demand in the last decade. As a result, the country's energy policy is dominated by concerns related to security of supply. It is in this context of soaring energy demand and import dependence that improving energy efficiency became increasingly important, and it is recognised as such in Turkey's Eighth Five-Year Development Plan (2001-2005). However, while the Government gives priority to meeting this demand growth by focusing on increasing supply, it appears to have overlooked necessary demand-side measures.

This publication aims to increase the level of transparency over the exact rules that apply under the Energy Charter Treaty to trade in energy materials and products and energy related equipment among its Signatory states.

This report assesses the changing environment in which governments are now required to pursue energy efficiency objectives, within the context of energy market liberalisation in many parts of the UN-ECE constituency, and draws some conclusions as to priority sectors of the economy that should be focused on in terms of energy efficiency gains. The role of the Energy Charter Protocol on Energy Efficiency and Related Environmental Aspects (PEEREA) as a vehicle for sharing best practice recommendations and advice on energy efficiency policies among governments in the Eurasian area is underlined, and was also explicitly recognised in the Statement on Energy Efficiency adopted by the Kiev...

The aim of the report is to identify the possible effects of evolving competition in the energy sector of many national economies on energy efficiency, and to establish how energy efficiency policies and programmes should best be adapted to meet the challenges of energy market liberalisation. The report, which includes a number of case studies that highlight best practices in adapting energy efficiency policies to conditions of market liberalisation, was prepared also with the aim of supporting policy discussions on the issues raised within the forum of the International Energy Agency.

Estonia is unique in the world in that it uses indigenous oil shale as its main energy source. The only other significant indigenous fossil source is peat. As there is no oil and no refineries, all petroleum products are imported. Natural gas is imported from Russia. The Estonian chemical industry also uses oil shale for the production of shale oil, which is used in domestic applications as well as exported.

The Secretariat produced this study as part of an effort to provide increased transparency about the application of the WTO rules on trade in goods in the energy sector. Its purpose is to help governments, firms and interested individuals to better understand how the rules of the multilateral trading system apply to trade in energy.

During the July 1997 G8 Summit in Aspen, President Yeltsin invited the G8 to participate in an Energy Ministerial in Moscow in the spring of 1998. The G8, in preparing the agenda of the meeting, identified energy transit as a strategic issue to be discussed. The Energy Charter Secretariat was invited to prepare a background paper. This paper presents an analysis of the key issues associated with grid-bound energy transit and examines the role of governments, particularly the G8 governments, in adopting a multilateral approach to address and meet some of the challenges of energy transit in the future.