23rd May 2014

New EU Energy Security Strategy to be published in June

On 21 May, representatives of Member States, EU institutions, energy regulators and energy companies met in Brussels to hold a high-level conference on EU Energy Security. According to the Commission, the EU imports some 53% of its energy consumption, amounting to some €1 billion every day. Full 42% of imported gas come from Russia. Half of the EU electricity production is currently carbon-free and renewables amount to 14% of energy production. However, as the situation in Ukraine has shown, some serious challenges remain concerning the EU energy security. That is why the March European Council tasked the Commission to carry out an in-depth analysis and propose an Energy Security Strategy. As President Barroso has re-confirmed at the conference, the Commission will present its findings before the June European Council. According to Commissioner Oettinger, there are no quick solutions to solve the dependence issues that the EU is facing. There are, however, several steps that could increase the energy security of the Union, namely developing the so-called Southern Corridor for gas imports from Azerbaijan and completing the internal market in energy. The proposal for an “energy union” was also the topic of the Polish Prime Minister Donald Tusk´s presentation. Further measures that the EU could take could include higher home production, diversified routes, sources and counterparts and energy savings.

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Members of the American Chamber of Commerce in the Czech Republic