Russian Energy Agency (REA) and IEA agree to strengthen co-operation

18 October 2011

The REA and the IEA agreed to strengthen bilateral co-operation on energy efficiency and renewables as well as overall dialogue on global and Russian energy market trends as part of a Memorandum of Understanding (MoU) that was signed on 18 October during the IEA Ministerial meeting in Paris.

General Director Timur Ivanov of the Russian Energy Agency and IEA Deputy Executive Director Richard H. Jones signed the MoU.

In the MoU, the Russian Energy Agency and the IEA agree to work together on further strengthening and developing energy efficiency policy as well as energy efficiency indicators to enable effective monitoring of progress in reaching the Russian goal to reduce the energy intensity of Russian GDP by 40% by 2020.

The enhanced co-operation set forth in the MoU will involve activities such as joint studies and discussions on current and projected trends in global and Russian energy markets. The MoU also covers studies on energy policy, the sharing of IEA best practices and assessments of regulatory and financial challenges that the development and deployment of new technologies are facing in promoting energy efficiency and renewable energy.