EU and U.S. share a common approach on the need to promote open, transparent, competitive global energy markets.

The ongoing crisis in Ukraine has highlighted European energy markets’ dependence on natural gas. The conflict has also underlined again – the competing claims of the EU´s three energy policy objectives: security of supply, environmental concerns and competitiveness. Ukraine and countries in southeast Europe appear particularly vulnerable to potential disruptions of Russian gas supply. As Europe´s biggest supplier of oil, coal and natural gas, Russia has flexed its political and economic muscle and the treat to energy supplies has accelerated calls for a move away from Russian energy sources.

As result, EU encourage the country’s political and economic reforms. Looking forward EU seeks alternative secure energy and green energy,as agreed at the European Council meeting on 2030 policy framework for climate and energy on 26-27 june 2014 in Brussels. Europe energy efficiency will be absolutely essential for achieving the EU’s energy transition towards a low-carbon economy, as it is the only instrument which allows the EU to reach simultaneously its three energy objectives: competitiveness, sustainability and security of supply.

Europeans are trying to reduce dependence on Russia and to cut carbon emissions by turning away from fossil fuels. It is also important that we integrate all 28 Member States into the Single Market. Linking energy markets in the EU also reinforces solidarity in times of crisis. European Commission has spent the past few months conducting stress tests to assess how the continent´s energy networks would cope in the event of disruptions, particularly during the winter when gas usage is at its highest.

The aims of the tests is to develop short-term back-up mechanisms.  This includes moves to increase gas stocks, develop infrastructure such as reverse flow pipelines, reduce energy demand and switch to alternative fuels in the short term. Longer-term aims include improving energy efficiency, boosting production within the EU, diversifying supplier countries and access routes, constructing infrastructure and creating a more unified energy policy.The greatest impact energy supplies from Russia will be on Ukraine and countries in southeast Europe that receive Russian gas transiting through Ukraine.

And, of course, saving energy could cut costs for industry and solve climate change. At EU summit of EU Heads of State and Government meeting at the European Council on 23 and 24 October 2014 in Brussels, European leaders are looking to adopt more ambitious targets aiming at 2030 and to bring a final decision on effective application and enforcement EU rules within the EU. We are also hoping to have a multilateral agreement and this besides the national commitments that are already being put in place.

The EU and the US are similarly affected by the supply and price vulnerability resulting from a level of dependence on foreign oil. To counter such volatility, both EU and U.S. are looking toward renewable energy sources and green technologies, and the anticipated job creation that will result from increased investment in these areas. The EU and US have been cooperating in the energy sector for many years. Climate change and environmental legislation are also important areas of EU-US cooperation.

The European Union and the United States share a common approach on the need to promote open, transparent, competitive and sustainable global energy markets. In 2009, the European Union and the United States established the ministerial-level EU-US Energy Council to deepen EU-US dialogue on strategic energy issues, cooperate on energy policies, and strengthen research collaboration on sustainable and clean energy technologies. The EU-U.S. Economic Partnership is a defining feature of the Global Economy.

As more countries exploit new sources of natural gas, not only is the geography of trade in energy products likely to continue to change, but the geography of manufacturing exports is likely to change as well. The U.S shale gas boom has had a significant impact on the patterns of global energy trade. IMF Estimates show that cheaper natural gas in the United States has helped lift manufacturing exports by about 6 percent, where shale gas drove prices down relative to Europe.

Newly accessible supplies of shale gas and oil— is now creating a new discourse on energy, that is changing US politics and policies and Energy security, and a new reality for economies around and geopolitical position of the political approach toward climate, security and energy. Nevertheless, as IMF figures show, the limited global integration of gas markets has resulted in substantial price differences across regions in recent years. More importantly, U.S. fossil fuel imports has decreased to $225 billion in 2013 from $412 billion in 2008.

The United States is an important and long-standing partner of the EU on many global and regional environmental and sustainable development issues and in many international environmental forums and agreements. After all, many conflicts across the globe involving a great percentage of the world’s major energy suppliers challenges. For common set of priorities the UN Sustainable Energy goals and targets of energy to both development and environmental sustainability is a useful unifying framework at the global level. On that point, we are confident that the world can count on EU ambitious contributions in the run-up to the UN climate conference in Paris. The EU will be the first global players to announce our position ahead of the UN climate talks in Paris 2015 others should follow.

Summary: 24 October 2014, Brussels – The Council of the European Union today adopted a regulation extending until the end of 2015 unilateral trade preferences applied since April 2014 in favour of Ukraine (PE-CONS 93/14). They involve the temporary reduction or elimination of customs duties in accordance with a schedule of concessions set out in the association agreement. The start date for the provisions on free trade is now set for 1 January 2016.

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