OREANDA-NEWS. January 24, 2007. President of the Republic of Lithuania Valdas Adamkus is participating in the World Economic Forum in Davos (Switzerland), reported the Official website www.president.lt.

President Adamkus attended the discussion “The Energy Industry – a Sunset Industry” and made a contribution at the session on energy security.

Speaking about the prospects of energy industry, the Lithuanian Head of State underlined the importance of resurging, secure and modern nuclear energy.

“The advantage of this type of energy is a possibility to reduce environmental pollution and increase energy diversity”, said the Lithuanian President.

According to the President, the process of increasing energy efficiency in Europe is very much related to appropriate tax environment and energy sector regulatory rules. The Head of State believes that the EU must cooperate with its neighboring countries and regions in order to use energy resources more actively.

At the discussion on energy security, the Lithuanian President highlighted the importance of achieving agreement on fundamental principals of energy policy. According to the President, these principles include energy supply diversity, open competition, priority to market conditions rather than politics.

The Lithuanian President said that we needed to develop infrastructure which would help us put these principles into practice.

The Head of State also drew attention to energy problems in the Baltic region. President Adamkus underlined that the region needed energy connections facilitating the use of those resources which would increase both energy diversity and energy security.

The President noted that by developing mutually beneficial cooperation in the energy field, the EU and Russia could create conditions for reducing business risks and enhancing investment in major energy objects.