October 1, 2002
In May 2002, U.S. president George W. Bush and Russian president Vladimir Putin announced a new U.S.-Russian dialogue. Among the many important strategic areas for potential cooperation between the U.S. and Russia is the energy sector. In a follow-up to the May 2002 announcement, Washington and Moscow convened the U.S.-Russia Commercial Energy Summit on October 1-2, 2002, in Houston, Texas. The main plenary sessions for the meeting were held at the James A. Baker III Institute for Public Policy. The meeting was aimed at the development of Russian/American joint strategies for cooperation in the energy sector. This inaugural summit brought together senior government officials and corporate executives representing more than 70 American and Russian energy companies. The session led to the creation of a commercial working group to focus on key issues such as market development, strategic reserves, investment, regulations, education, and problem solving.