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For Immediate Release
Office of the Press Secretary
May 24, 2002

President Bush, President Putin Announce New Energy Dialogue
Joint Statement by President George W. Bush and President Vladimir V. Putin on the New U.S.-Russian Energy Dialogue

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Successful development of the global economy depends on timely and reliable energy delivery. In this context, we welcome the fact that the Russian Federation has confirmed its role as a major world energy provider. In order to strengthen our overall relationship and enhance global energy security and international strategic stability, we have agreed to launch a bilateral energy dialogue.

Through this Dialogue we seek to:

We intend to discuss energy issues at our future bilateral meetings, and direct that these issues be integrated into our bilateral agenda, at all levels of our governments. In this context, we welcome the creation of the Russian-American Working-level Group on Energy Cooperation.

We are encouraged that our commercial cooperation occurs not only in Russia and neighboring areas such as the Caspian region, where multiple pipelines and joint upstream investments in the energy sector strengthen the sovereignty, prosperity, cooperation, and global economic integration of all participating states. We also welcome our commercial cooperation in the United States and in other countries where our companies' and their international partners' experience, technology, and capital can be joined to provide the commercially reliable energy supplies which are essential to fostering prosperity and global stability.

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