The European Union (EU)'s energy commissioner on Monday called for strengthening mutual trust in energy relations between the 25-nation alliance and Russia.
"Russia needs the European Union just as much as the European Union needs Russia," Andris Piebalgs was quoted by the Interfax news agency as telling an international energy in Moscow.
Russia should be a stable and reliable supplier of energy to Europe, which has become increasingly dependent on these supplies, Piebalgs said.
The EU, which depends on Russia for 25 percent of its gas and oil imports, is keen to formulate new principles of energy cooperation with Moscow. EU leaders want Moscow to commit to the Energy Charter, a document that regulates transit and investment in the energy sector and allows for greater market competition from foreign companies. Russia, however, has so far refused to ratify the charter.
Most of the gas Russia supplies to European countries is sent through pipelines that cross Ukraine. Russian gas giant Gazprom and two Germany companies are building a gas pipeline on the Baltic seabed that is due to ship Russian gas to Germany.
Piebalgs said the EU wants to be sure adequate investment is made in extracting and transporting Russian energy resources to satisfy its growing demand.