Graham Stuart (Conservative)

The energy charter treaty was signed in 1994 to promote international cooperation in the energy sector in eastern Europe and central Asia following the break-up of the Soviet Union, primarily to facilitate investment in fossil fuels. However, the failure of the modernisation process means the treaty is no longer fit for purpose. The treaty means British taxpayers could bear unfair financial risk as the Government implement the necessary policies to secure the UK’s energy supplies and decarbonise.

The UK has been a strong advocate for modernising the treaty to better align it with modern energy priorities, international treaty practice and commitments on climate change. However, over a year after contracting parties reached an agreement in principle on modernisation, following two years of negotiations, there is still no clear route for adopting the modernised treaty. I am clear that the UK cannot remain in an unmodernised treaty that does not align with our unwavering commitment to energy security and net zero.

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