THE AGREEMENT ON CREATION OF RESERVES OF RESOURCES AND THEIR EFFECTIVE USE FOR ENSURING STEADY PARALLEL WORK OF ELECTRIC UTILITY SYSTEMS OF THE STATE PARTIES OF COMMONWEALTH OF INDEPENDENT STATES

The State Parties of this agreement on behalf of the governments which are hereinafter referred to as the Party

considering great value of power industry for development of economy, increase in level of social security of the population,

recognizing need of rational use of fuel and energy and water resources, satisfactions on this basis of the needs for electrical energy,

for the purpose of ensuring growth of cost efficiency of use of energy resources, functioning and sustainable development of fuel and energy and water management complexes in the conditions of forming of the market relations,

proceeding from the principle of feasibility of maintenance and development on long-term basis of specialization, cooperation and technologically interconnected productions,

aiming at increase in level of energy security,

considering provisions of the Energy Charter of December 17, 1991 and the Agreement to the Energy Charter of December 17, 1994, the Agreement on ensuring parallel work of electric utility systems of the State Parties of the Commonwealth of Independent States of November 25, 1998,

agreed as follows:

Article 1

For the purposes of this agreement the following determinations are used:

fuel and energy resources - the sources of combustible substances allocating significant amount of warmth which is used in engineering procedures when burning or it will be transformed to other types of energy;

material resources - raw materials, materials, nodes, details, spare parts, procurements, component parts and other products of industry and cross-industry appointment;

reserves of resources - in advance created inventories of fuel and energy and material resources;

competent authority - the body appointed by each Party for coordination of the works connected with realization of the purposes and provisions of this agreement;

business entity - the legal entity who is engaged in production, transfer, distribution and realization of fuel and energy resources according to the national legal system of the Party;

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