Moscow ? Energy ministers from the world’s richest countries called Thursday for market-oriented approaches to increasing supplies and said significant investments would be needed in the production, transportation and processing of resources.

The ministers from the Group of Eight nations, meeting against the backdrop of high oil prices and uncertainty about supplies, also called for investment policies that encourage development in the sector.

Though they conceded that fossil fuels “will remain the basis of the world energy industry for at least the first half of the 21st century,” the ministers urged a diversification of energy sources, suppliers, consumers, routes and delivery methods as a means of reducing energy security risks. They noted in particular the importance of nuclear energy.