The ministerial meeting marked the 20th anniversary of the IEF cooperation, WHICH aims to promote dialogue between energy producers and energy consumers with regards to their mutual interests and challenges.
-Signing the IEF Charter is an important milestone in the process of dialogue between energy producers and energy consumers. Norway has supported this process for 20 years. The event in Riyad creates the foundation needed in order to strengthen this dialogue in the future, says State Secretary Mr Per Rune Henriksen.
In the meeting in Riyadh, the representatives from the different countries agreed on, and signed a charter for the IEF. The charter is a political declaration aspiring to reinforce the cooperation in the IEF. The aim is to promote more stable markets and strengthen energy security for both producers and consumers. The development of principles and guidelines for transparent and sustainable energy markets, and the collection, analysis and distribution of information that is important for market actors, is a central part of IEF’s work. The secretariats of IEA and OPEC are contributing in important ways to the effort of IEF here. The Charter also ensures that the forum of IEF is open for potential new member states