The framework agreement on institutional bases of creation of interstate oil transportation system and gas

of July 22, 1999

The State Parties of this agreement (which are hereinafter referred to as by "Parties"), recognizing that safe oil transportation routes and gas on the world markets will play important role in further prosperity and ensuring energy security of the Parties;

understanding that it is necessary to take into account all legal, technical, commercial, ecological and financial factors in case of decision making on transportation, including transit of oil and natural gas and (or) products of their conversion, in cooperation with other interested States, and also the local and foreign companies investing in operation of hydrocarbonic resources;

following rules of market economy in oil and gas sectors, such as the rules and regulations applied in EU countries and wishing to make the contribution to development of the international rules and practice regulating activities for transit in the sector of oil and gas;

understanding that the states play important role in decrease in investment and transit risks;

believing that protection, assistance and the address with foreign investments, investors according to the standards and regulations of the international economic right accepted in the international practice, are proper measures on development of the sector of oil transportation and gas;

intending to establish the single rules and mechanisms providing effective operation of the Interstate Oil transportation system and gas according to the regulations and practice operating in the international oil and gas industry;

in view of the principles proclaimed the Agreement on the Energy Charter

agreed about the following:

Determinations and headings

1. In this agreement terms have the following values:

I. Construction - construction of new oil transportation systems and gas or any new site of the Interstate Oil transportation system and gas.

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