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European Commission eyes new energy plan

Brussels, May 29, 2014

The European Commission laid out plans to cut the EU's costly reliance on energy imports, especially from Russia which has threatened to halt gas supplies to Ukraine, a key transit point for Europe.

A report prepared for EU leaders recommended a broad series of measures to promote indigenous sources, including renewables and nuclear energy, and to make progress on a single energy market.

"Improving the internal market will mean that energy prices will be roughly the same everywhere," EU Energy Commissioner Guenther Oettinger said.

As for supply of gas, "we must move away from a monopoly supplier, Russia in this instance," Oettinger said.

Russia accounts for nearly 40 per cent of EU gas imports, with half of that transiting through pipelines in Ukraine, according to Commission figures. As the Ukraine crisis has deepened, Moscow has threatened to cut supplies - as it did in 2006 and 2009 - unless Kiev pays for deliveries up front.

EU leaders and official have suggested there could be a 'European Energy Union,' a single market complete with assured supplies and infrastructure to ensure the EU does not rely overly on any one country and so leave itself open to energy blackmail.

"We want strong and stable partnerships with important suppliers but must avoid falling victim to political and commercial blackmail," Oettinger said.-Reuters
 




Tags: Energy | Europe |

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