Russia, EU sign early warning memo on energy supply

MOSCOW, Nov 16 (Reuters) - The European Union and Russia on Monday agreed to an "early warning" mechanism to shield Europe from potential energy supply cuts and protect consumers in the event of a repeat of last year's Russia-Ukraine gas dispute.

The agreement requires both sides to notify the other of any likely disruption to supplies of oil, natural gas or electricity and to work together to resolve the problem. Third parties would also be allowed to participate, the European Commission said.

The memorandum was signed in Moscow by EU Energy Commissioner Andris Piebalgs and Russian Energy Minister Sergei Shmatko. (Reporting by Katya Golubkova and Conor Sweeney, editing by Anthony Barker)