Energy is one of the main challenges facing Europe today. As reported by the EU, with over 500 million consumers, the EU energy market is the world’s largest regional market and energy importer. The EU focuses on securing oil supplies for Europe and making the oil market more transparent, fair and competitive. It also dictates standards for the offshore oil & gas platforms, oil licensing and support research.
The Energy Union means making energy more secure, affordable and sustainable. It will allow a free flow of energy across borders and a secure supply in every EU country, for every European. New technologies and renewed infrastructure will cut household bills and create new jobs and skills, as companies expand exports and boost growth. It will lead to a sustainable, low carbon and environmentally friendly economy, putting Europe at the forefront of renewable energy production and the fight against global warming.
Important groundwork has already been done. Europe has a policy framework for energy and climate for 2030, as well as an energy security strategy. Meanwhile, an integrated energy market for all EU countries is closer than ever before.