Energy Union on Horizon?

EU and Russia Clash

EU and Russia Clash

Deputy Prime Minister and Minister of Economy Janusz Piechociński has urged legislators across Europe to create a new organisation, similar to OPEC, which would regulate energy resources as he believes it would protect nations against using energy as a political tool. Piechociński points out that the changing energy market needs new regulations, and therefore would benefit from an organisation that would help conclude unfinished investments in different parts of the world, react to challenges concerning climate change as well as protect businesses operating on the energy market. According to Piechociński, the organisation could initially include the member states of the EU and its neighbours but that would require governmental and energy companies to cooperate. The Polish deputy PM took part in the annual Caspian Oil and Gas Conference where the Azeri Minister of Energy Natig Alijew talked about the development of projects that diversify the supply of gas to the EU from the Caspian Sea region as well as prospects of incorporating them into the EU Southern Gas Corridor project. Azerbaijan is the main stakeholder of the Trans-Anatolian gas pipeline (TANAP). After the failure of the Nabucco pipeline, TANAP is the only non-Russian gas delivery route from the east. The EU hopes for it to become part of the southern corridor. The construction of TANAP began in March 2015 and is scheduled to finish in 2018. Initially, the pipeline will be able to deliver 16 billion cubic metres annually and will increase to 32 billion cubic metres by 2026. TANAP will connect with the EU gas network on the Turkish-Greek and Turkish-Bulgarian borders.
pb.pl

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