European Commission and Baltic Sea region sign energy memorandum

• 8 years ago (2015-06-09)

Europe 1061

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The aim of the MoU is to end the energy isolation of the Baltic Sea region and to integrate it fully into the EU energy markets, extending the scope of the BEMIP initiative by increasing the areas of cooperation – from internal energy market, interconnections and power generation to energy efficiency renewables and security of supply. Signatories included Estonia, Finland, Germany, Latvia, Lithuania, Poland, Sweden and Norway (Denmark will sign at a later stage).

The European Union sees regional cooperation under its own energy frameworks as being a key building block for the energy union, while also ensuring uninterrupted supplies and affordable prices for consumers.

While this was being signed, 12 European countries also signed a declaration for regional cooperation on security of electricity supply within the European internal market. This was followed by the signature of a political declaration of the Pentalateral Energy Forum.