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Informal translation
Framework Agreement on Institutional Bases
of Establishment of the Interstate System of
Oil and Gas Transportation
The member states to this Agreement (hereinafter referred to as the Parties),
recognising that safe routes of oil and gas transportation to the world markets will take an important part in further prosperity and ensuring of the energy security of the Parties;
realising that it is necessary to take into consideration all legal, technical, commercial, ecological and financial factors when decisions are adopted on transit of oil and natural gas and (or) products of their processing in cooperation with the other interested States, as well as with local and foreign companies which invest in the operation of hydrocarbon resources;
observing rules of the market economy in the oil and gas sectors such as rules and standards which are applied in the EC countries, and wishing to make own contribution to the development of international rules and practice which regulate activities on oil and gas transportation;
realising that states take an important part in reducing investment and transit risks;
considering that the protection, promotion and treatment of foreign investments and investors in accordance with standards and rules of the international economic law, which are accepted in the international practice, are the proper measures for development of the sector of oil and gas transportation;
intending to establish single rules and mechanisms which will ensure the efficient operation of interstate systems of oil and gas transportation in accordance with the rules and practice which are effective in the international oil and gas industry;
taking into consideration the principles which are declared by the Treaty on the Energy Charter;
have agreed on the following:
Definitions and Headlines
1. Terms in this Agreement have the following meaning:
I. Construction - building of new systems of oil and gas transportation or any new section of such system.
