In 2006, the UK and Russia, along with other members of the G8, signed up to the St Petersburg Principles of Energy Security. These stated that “Free, competitive and open markets are essential to the efficient functioning of the global energy system. Efforts to advance transparency; to deepen and spread the rule of law; to establish and strengthen predictable, efficient fiscal and regulatory regimes; and to encourage sound energy supply and demand policies all play significant roles in maintaining global energy security.”

The SPF Low Carbon High Growth Fund helps provide funding for projects that help realise these principles. The UK and Russia have a shared interest in energy security – the UK, along with other countries in Europe represents a significant market for Russian exports, while Russia is one of the key global energy producers, and a vital contributor to global energy security.

Project proposals must demonstrate how they will deliver real and measurable changes in Russia in the areas of energy security/efficiency in support of Programme Indicator 4:  

• Strategies adopted and/or implemented that enable better functioning global energy markets including through: addressing hard security threats, improving internal energy infrastructure; or encouraging diversification of energy supplies to the EU.

The total budget of energy security projects, implemented in Russia in 2006-2009, is £300K.

Should you require any further information please e-mail us.