On 20 May 2015, energy ministers and other high-level officials from around the world gathered in The Hague, The Netherlands, in order to adopt the International Energy Charter, a political declaration for international energy cooperation. 75 Countries and institutions adopted the text of the International Energy Charter, out of which 64 have signed including the European Union, EURATOM and the Economic Community Of West African States (ECOWAS).
The result of lengthy negotiations involving around eighty states, the International Energy Charter represents a new and dynamic institutional benchmark outlining the principles governing energy relations between the countries that have adopted this document. It constitutes a modern, non-discriminatory global instrument which aims to address the core energy challenges of the 21st century. These include security of supply, security of demand and that of transit of energy, as well as universal energy access as a means of poverty reduction, and shared environmental responsibility.