EU announces sustainable energy security package

• 8 years ago (2016-02-17)

Europe 1061

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Measures included within the package are: moderating energy demand, increasing energy production in Europe (including from renewables), further developing a well-functioning and fully integrated internal energy market, as well as diversification of energy sources, suppliers and routes. Further, the proposals bring more transparency to the European energy market and create more solidarity between the Member States.

Europe is the biggest importer of natural gas in the world, although its overall LNG import capacity is significant, as it has enough to meet around 43 per cent of total current gas demand (2015). However, the EU recognizes that it remains vulnerable to energy shocks, which is why the energy security package also calls for a shift from a national to a regional approach when designing the security of supply measures.

Building from this is a renewed focus upon removing barriers to decarbonisation in heating and cooling in buildings and industry, which accounts for over half of the EU’s energy expenditure. Currently, 75 per cent of this total is carbon-based energy.

Maroš Šefčovič, Vice-President responsible for the Energy Union, said: " Today’s package focuses on the security of our supply, but touches upon all three overarching goals. By reducing our energy demand, and better managing our supply from external sources we are delivering on our promise and enhancing the stability of Europe’s energy market."

Miguel Arias Cañete, Commissioner for Climate Action and Energy, said: " After the gas crises of 2006 and 2009 that left many millions out in the cold, we said: 'Never again'. But the stress tests of 2014 showed we are still far too vulnerable to major disruption of gas supplies… Today's proposals are about a reliable, competitive and flexible system in which energy flows across borders and consumers reap the benefits."