"We believe a number of this charter's provisions should be clarified or a new document should be drafted on the basis of the same principles," Putin told a news conference following an informal EU summit, which he attended for the first time.
The original European Energy Charter was signed in The Hague on December 17, 1991, and included a declaration of principles for international energy, including trade, transit and investment, together with the intention to negotiate a binding treaty.
Russia has refused to ratify it because Europe has demanded access to Russian pipelines for Central Asian states and other countries, which Moscow says will make their natural gas 50% cheaper than Russia's when it arrives in Europe.
Putin said he was convinced that Russia and its European partners will be able to find common approaches on energy issues after today's summit, and to reach agreements "on all, even the most difficult problems."
Putin said the leaders of the European Union and Russia believe that energy cooperation should be based on the principles of predictability and stability in the energy market.
He also said Russia depends more on Russia's natural gas consumers than they depend on its supplies.
Putin said Russia and the EU are natural partners in the energy sphere.
"Mutual dependence only strengthens the energy security of the European continent and creates good prerequisites for further rapprochement in other fields," he said.
The Russian leader said the EU meets 44% of its gas demands with Russian supplies. He said 67% of Russia's natural gas is supplied to Europe.
"In essence, Russia depends more on its consumers than consumers do on the suppliers," he said.
Putin also said Russian energy giant Gazprom's decision to develop the huge Shtokman natural gas deposit in the Barents Sea on its own does not mean that the rules in relations between Russia and foreign investors have changed.
"As regards Shtokman, this has nothing to do with a change of the rules in Russia. Nothing has changed," he said.
Gazprom said last week it will develop the deposit on its own, a move that stunned Norway's Statoil and Norsk Hydro, France's Total, and U.S. giants Chevron and ConocoPhillips, all companies previously on a shortlist of contenders for the project.
"Gazprom analyzed all proposals and decided that it is not satisfied with these proposals, which implied an exchange of assets, and the Shtokman deposit is so huge and unique that no one managed to propose adequate assets," Putin said.
He said foreign companies could be involved in the management and technical implementation of the Shtokman project.
The problem around the giant Sakhalin II oil and gas project on Russia's largest Far East island can be resolved through talks, Putin said Friday.
"We believe that we should sit at the [negotiation] table and seek an agreement. We are convinced that we will find a resolution," he said.
Russia signed the Sakhalin II production sharing agreement in 1994 with Sakhalin Energy, an investment company controlled by oil major Royal Dutch Shell. The company recently raised its cost estimate for the project, thereby putting off the date by which the Russian government will receive a share of the profits. Sakhalin II has also come under attack from Russia's environmental authorities for large-scale destruction of the island's ecology.
Putin said the Sakhalin II project is facing not only ecological problems, because foreign investors are demanding a two-fold increase in their spending.
"Under the PSA, we will not receive any profits until all expenses are compensated. We receive nothing today, although oil has been produced for several years," he said. "If they increase spending, we will receive nothing for several more years."
Speaking about relations between Russia and Georgia, Vladimir Putin said the situation in Georgia could lead to bloodshed.
"The situation in Georgia is developing in the direction of possible bloodshed, and the Georgian leadership is trying to restore its territorial integrity through military means," Putin said.
However, the Russian leader said the country's leadership is glad to hear voices from Georgia calling for normalization of bilateral relations.
"As we were not the initiators of the tensions in our relations with Georgia, we are satisfied with the Georgian leadership's signals to move in the opposite direction - toward an improvement of relations," Putin told journalists.
Since four Russian officers were detained in the Georgian capital, Tbilisi, for alleged spying in late September and released soon afterwards, Moscow has suspended travel and mail links with the South Caucasus state and deported at least 300 Georgians for violations of immigration laws.
Moscow authorities have also launched a crackdown on businesses allegedly related to the Georgian mafia, which resulted in the closure of a number of gambling outlets and restaurants.
Speaking about foreign investment, the Russian president said the lower house of the country's parliament is working on laws that will attract foreign investment into the country's economy and minimize the number of spheres where foreign capital would not be welcome.
"The draft laws being considered by the State Duma are aimed at securing foreign and other investments into Russia's economy, guaranteeing owners' rights and minimizing the number of spheres where foreign investment cannot be used," Putin said.
"These spheres will be mainly restricted by security issues, and they also include the largest and most unique deposits to be found in the world and Russia, which can be counted on one hand," the Russian leader said. "All the rest will be accessible."
Putin also said Russia and the European Union plan to sign a new partnership agreement that Moscow proposes naming the Strategic Partnership Treaty.
"We will soon have to start working on a new basic document, which will be called upon to replace the Partnership and Cooperation Agreement, valid until the end of next year," Putin said.
The Partnership and Cooperation Agreement (PCA) between Russia and the EU was signed June 24, 1994 on Corfu in Greece. The document entered into force December 1, 1997. It will be valid for 10 years and will be extended further if the two sides deem it useful and necessary.
