EU Foreign Energy Policy – The Vulnerable Part of Energy Union Strategy

Mariana Papatulică
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Mariana Papatulică: Senior researcher Centre of European Studies, Institute for World Economy, Bucharest, ROMANIA

Global Economic Observer, 2016, vol. 4, issue 1, 1-9

Abstract: Despite the liberalization and harmonization of energy laws started by the European Commission in the midst of 1990s, EU energy policy has remained traditionally a national problem rather than a common one. European energy sector remains fragmented, not only because of the technical complexity of energy markets and geography of Europe, but also due to lack of political initiative at national level to remove obstacles in the way of integration of national markets into a single market. Despite the technical difficulties associated with the creation and management of large energy markets, industry experts believe that one can find further integration solutions for regional convergence and overall price. Lack of premises in this area made that major decisions of some countries facing the same challenge in this field lead to a further fragmentation of the market, which lead to the national supremacy over the Community level, at least for this stage. One of the most vulnerable part of Energy union strategy is the absence of a common external energy policy; being directetly related to the concept of security of supply, in order to reach its main objectives of diversification of energy sources and security of transport routes it requires a better system response to the crisis determined by the unstable international market for fossil energy and a collective energy security approach at EU level

Keywords: European energy union; energy security; external energy policy; source diversification; integrated energy market. (search for similar items in EconPapers)
JEL-codes: Q01 Q4 Q42 Q43 Q48 (search for similar items in EconPapers)
Date: 2016-11
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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