Supply Management: EU plans action to tackle dependence on €1 billion a day energy imports

The European Commission (EC) has produced a new energy security strategy to tackle the region’s dependence on fuel imports.

Currently the EU imports 53 per cent of its energy requirements at a cost of more than €1 billion (£812.4 million) a day, representing more than a fifth of total EU imports.

In 2013 39 per cent of gas imports came from Russia, 33 per cent from Norway and 22 per cent from Algeria and Libya combined. Gas shortages in 2006 and 2009 and events in Ukraine have focused minds on the EU’s reliance on external suppliers, with six member states (Finland, Slovakia, Bulgaria, Estonia, Latvia and Lithuania) entirely dependent on Russia for gas imports.

The strategy, due to be discussed by EU heads of state at the European Council on 26-27 June, includes creating a well-functioning internal energy market and building infrastructure links to improve energy flows across the EU, diversifying supplier countries, increasing indigenous energy production and increasing energy efficiency.
MORE