(MENAFN - Kuwait News Agency (KUNA)) The fourth EU-US Energy Council met in Brussels Wednesday, chaired by EU High Representative Catherine Ashton, EU Commissioner for Energy Guenther Oettinger, US Secretary of State Hillary Clinton, and US Deputy Secretary of Energy Daniel Poneman.
A statement released last night noted that the Energy Council, a central component of the EU-US energy relationship, promotes transparent and secure global energy markets; fosters co-operation on regulatory frameworks and sustainable use of energy; and identifies joint research priorities that promote clean energy technologies.
"The Energy Council recognised the expansion of shale gas and shale oil production in the United States, which is having a profound impact on global energy markets," it said.
"The Energy Council took note of the positive cooperation between the EU and United States in pressing Iran to meet its international obligations.
The EU and United States affirmed their commitment to a two-track policy of engagement and pressure, including sanctions on the export of Iranian crude oil and petroleum products," it added.
The Council noted that "the significant current and future Eastern Mediterranean gas discoveries could enhance the energy security of the countries in the region.
The EU and United States are ready to assist interested countries in using their energy resources to best serve their national and regional economic interests."
The Energy Council acknowledged discussions over the past year on hydrocarbon exploration in Nigeria, Libya, and Iraq, concerning global markets, good-governance, development, and investment.
The Energy Council stressed the ongoing good co-operation on global oil and gas markets, including the role of unconventional gas and promoting competitive global energy markets as a means to enhance energy security and to create a climate conducive to economic growth. (