Georgia has signed an Energy Community Treaty, which means that the country is joining the European Energy Community (EC), an organization uniting the EU and its neighbors with the aim to create an integrated European energy market.
Georgia joins Europe’s Energy Community
By Mariam Chanishvili
Tuesday, October 18
Georgia will become a full-fledged member of EC next year, following the ratification of the accession agreement by Parliament.
The protocol on the accession of Georgia to the EC was signed by acting Energy Minister Ilia Eloshvili and the Minister of Foreign Trade and Economic Relations of Bosnia and Herzegovina, Mirko Sarovic.
Through the deal, a member undertakes a commitment to implement key EU regulations and rules on electricity and gas networks, environment, renewable energy, energy efficiency, oil and on energy statistics.
“By receiving a status of the contracting party, we plan to embark on the implementation of new round of reforms for approximating Georgia’s energy sector with the EU energy market rules,” said Eloshvili.
He also stressed that Georgia has made a huge step towards membership in the European Family.
“With yet another new country joining the Energy Community family, this framework for the creation of a pan-European energy system is once again showing that it is relevant and successful" said Dominique Ristori, director general for Energy at the European Commission
Currently, EC members are all European Union (EU) countries as well as Albania, Bosnia and Herzegovina, Kosovo, Macedonia, Moldova, Montenegro, Serbia and Ukraine.
Georgia has had “observer” status in the EC since 2007. By integrating into the Community, Georgia will be able to develop its energy sector, improve the investment environment, increase energy security and contribute to the development of renewable energy sources and energy efficiency.