"As demand for energy continues to accelerate, India will have to work with other major energy-consuming (as well as producing and transiting) countries in order to ensure its own, as well as the region's, energy security. Undoubtedly, an internationally recognised multilateral policy framework for the energy sector would, in my view, provide the most suitable forum for achieving such strategic objectives," stated Ambassador Mernier.

Although the Energy Charter Treaty emerged in the 1990s as an instrument to promote East-West cooperation in the energy sector, it has established itself as the only truly multilateral institution in the global energy sector. The Treaty's constituency encompasses 51 member countries, spanning over several continents. The Treaty protects energy investments and promotes trade of energy materials, at the same time recognising state sovereignty over national energy resources.

Developing the Asian dimension is one of the key priorities of the Energy Charter, given the dynamic growth of Asian economies and the inexorable appetite for energy which countries like India and China are displaying. While it may be widely understood that Russia, Mongolia, the Caspian states and Central Asian republics are signatories of the Energy Charter Treaty, it may be less well known that Japan is actively involved in the Energy Charter's work - the current Chairman of the Energy Charter Conference (the organisation's governing body) is H.E. Takekazu Kawamura, Japanese Ambassador to the European Union, while Iran, China, Korea and the Association of Southeast Asian Nations (ASEAN) have observer status with the Charter. In Southern Asia, Pakistan and Afghanistan were recently invited to join the Energy Charter, as more countries recognise the Treaty's contribution in supporting the energy security of its member states.

India is presently the world's fifth largest energy consumer and, with the exception of China, its energy needs are expanding much faster than those of the rest of the world. It is expected to become the third largest energy consumer by 2030, overtaking Russia and Japan. However, dependence on imports of oil and gas, and to a lesser degree coal, are characteristic of India's energy sector, and ensuring a reliable, affordable and secure supply of energy is arguably the greatest challenge facing India's energy policy officials. The Energy Charter is, in this context, ready to work with India in order to help it promote its energy security, as well as the energy security of Asia as a whole.