The Presidents gathered at the Second Summit of Heads of State of the South American Community of Nations, convinced of the importance of energy integration for the strengthening our union, and with the purpose of deepening the agreements on this matter achieved during the First Ministers of Energy Meeting held on September 26th, 2005 have resolved to:

1) DEEPEN the objective of energy integration among our countries based on:
• Principles of cooperation and complementarity,
• Sovereign right to the use of natural resources and administration of exploitation rates,
• Respect for the regulations of each country and the forms of property that every State utilizes for developing its energetic resources,
• Solidarity and reciprocity,
• The purpose of eliminating asymmetries between States,
• Respect for sovereignty and self-determination of the people,
• Principle of territorial integrity,
• A common legal framework for energy integration.

2) ENTRUST to the Commission of High-level Functionaries of the South American Community of Nations, through the Permanent Work Group on Energy and with the participation of the energy Ministries in coordination with those responsible for IIRSA, the development of proposals for the formulation of a South American Energy Integration Strategy that it includes:

a) Consolidation of an analysis of the South American energy sector, taking into consideration relevant studies,
b) A systematization and evaluation of the South American energy balance,
c) Identification of projects, amounts and sources of financing for the development of regional energy sector infrastructure the corresponding technological development,
d) Evaluation of integration mechanisms for market integration, including identification of elements for advance toward a mutual legal framework, as well as the information and experience exchange on price policies for the different types of energy resources, considering the applicable legal framework in each country,
e) Standardization among countries of guidelines used for evaluation and classifying reserves, by member countries of the Community, conforming to international best practices,
f) Suggesting mechanism of complementarity between state hydrocarbon and other energy companies, with a perspective of advancing toward energy integration, and
g) Advancing in convergence proposals of national energy policies, considering applicable legal framework in each country.

3) RECOMMEND the cooperation of corresponding international organizations, especially Latin American Energy Organization (OLADE) and Committee of Regional Energetic Integration (CIER) for the elaboration of this strategy.

The results of work done by the Commission of High-level Functionaries of the South American Community and Ministers of Energy, according to the mandate of this Decision, should be analyzed on a priority basis in the framework of the Agenda of the Third Summit South American Community of Nations Heads of State.

Agreed in Cochabamba, Bolivia on December 9th, 2006