The European Union Issued a press release on November 8 of this year covering issues involving their regulation and consumption of imported gas via pipelines. This press release acts as an update to solidify a common set of rules for gas entering the EU economy.
The commission makes the claim that there is a growing dependency of gas in the European Union. This is a result of lowered domestic production due to prioritization of efficient energy practices and policies that discourage the consumption of carbon based fuel sources.
To paint a more detailed picture, some of the countries with the EU that have the highest natural gas import rates are Russia, Norway, and Algeria.
Natural gas imports have increased in full percentages within the last two years due to the lack of domestic production.
With the information given one could infer that it’s understandable the European Union is more dependent on natural gas imports due to efforts in moving towards a cleaner and more efficient energy system.
If the union is cutting its domestic production, there is a void that must be filled within the process of transitioning to cleaner energy sources. Hence the increase in importation.
The press release clearly states the Energy Union is a top priority for the European Commission. When classifying the Energy Union, the gas market is integral to its stasis.
Furthermore, the commission would like to propose regulation for the importation of natural gas in the European Union. The commission states that they would like to compete the current legislation for gas line directives and ensure that the legislation will apply to specific countries within the union.
This regulation will ensure that all pipelines and importation operate under the same rules and will create a more transparent image of efficiency.
Once these measures have been achieved by the council it will mark a momentous point for the Energy Union and its efforts the improve the energy system.
Ideally, as the Energy Union reaches these regulation goals the commission predicts it will increase competition within the natural gas market in terms of suppliers.
If all pipelines are closely regulated under a transparent system set by the union, it will discourage conflicts that could arise among suppliers and operators at an infrastructure level.
In summation, the European Commission is working hard to regulate EU natural gas importation and looking to make the process take a transparent image to allow for efficient operation and add benefit to its markets.
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