G8 backs nuclear power development.
Eight of the world's most powerful countries have pledged to promote open, transparent energy markets and pursue alternative energy sources, including nuclear power.
The statement is aimed at addressing record high oil prices and limited fossil fuel reserves.
The Group of Eight (G8), which includes Britain, Canada, France, Germany, Italy, Japan, Russia and the US, is meeting in Russia to try to salvage a global trade liberalisation campaign and discuss energy security.
The say the application of fair and competitive responses to energy problems "will help preclude potentially disruptive actions affecting energy sources, supplies and transit".
"Ensuring sufficient, reliable and environmentally responsible supplies of energy at prices reflecting market fundamentals is a challenge for our countries and for mankind as a whole," they said.
The G8 nations have singled out nuclear energy as an important component of any strategy to increase global energy security.
They say access to nuclear power should be available to any country that wants it but needs to be based on "a robust regime for assuring nuclear non-proliferation".
The statement takes account of Germany's aim to phase out nuclear energy by the early 2020s, saying "we are committed to further reduce the risks associated with the safe use of nuclear energy".
It also acknowledges complaints from producer countries that refinery capacity development is important in solving the surge in the price of oil.
"We encourage construction and development of hydrocarbon-processing facilities to increase energy market flexibility and confidence," it said.
Russian market
The step to promote open, transparent energy markets may ease friction between Russia and the European consumers of its vast energy resources, as well as open Russia's energy sector to foreign investment.
The G8 countries have agreed in the statement to support the principles of the Energy Charter, a framework of rules governing energy markets that the European Union has been pushing Moscow to ratify.
Ratification would compel Russia to open, for example, its natural gas pipeline network to domestic and foreign companies that would compete with the state gas monopoly Gazprom, a notion that Moscow has so far flatly rejected.
Russian President Vladimir Putin has argued that greater access for foreign firms to Russia's energy resources must be matched by reciprocal access for Russian companies to European assets. The G8 statement addresses this point.
Russia put energy security at the top of the agenda after coming under fire early this year for cutting gas to Ukraine, resulting in supply disruptions in Europe.
WTO deadline
The European Union Commission President says the G8 leaders have also given World Trade Organisation (WTO) negotiators one month to reach agreement on a broad outline for liberalising world trade.
Jose Manuel Barroso calls the effort to restart stalled WTO trade negotiations "an ambitious goal".
He says the G8 leaders have ordered their WTO negotiators to hammer out a "broad agreement on key figures" in plans for carrying the trade talks forward.
The leaders will tomorrow meet with counterparts from five key emerging market countries - South Africa, Brazil, China, India and Mexico - to mount yet another bid to salvage the Doha Round of trade talks.
Agreement on the round has eluded trade ministers ever since the process got under way in the Qatari capital in late 2001.
- AFP