European Energy Union gets green light from EU chiefs at Brussels summit

European Energy Union: EU leaders last night moved to reduce Western Europe’s dependency on Russia for its energy supplies by agreeing to set up the European Energy Union and to accelerate  “infrastructure projects, including interconnections in particular to peripheral regions, for electricity and gas to ensure energy security and a well-functioning internal energy market.” The creation of a single market for power and gas underpinned by  better connections between member states, and less secrecy around the terms of  gas contracts is intended to curb Russia’s dominant position in the gas market. It is specifically aimed at Gazprom, which currently supplies Europe with around 30%  of its gas. “All leaders agreed to reinforce transparency in the gas market, so suppliers cannot abuse the position to break EU law, and reduce our energy security,” said EU Council Chairman and former Prime Minister of Poland, Donald Tusk. 

Source: Gazeta