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Extracts from the joint press briefing by Nobuo Tanaka, Executive Director of the International Energy Agency (IEA), and Andris Piebalgs

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Presenting the main findings of the International Energy Agency Review of the EU's Energy Policy, Nobuo Tanaka, Executive Director of the International Energy Agency (IEA), said that the European Union should fully liberalise its electricity and gas markets. The European Commission proposed dividing ownership of gas and electricity supply from pipelines and grids - the so-called unbundling - in a drive to help new market entrants and force down prices. Nobuo Tanaka told journalists that the IEA believed that the endorsement of full ownership unbundling by the European Parliament should be seen as an opportunity to move closer to full energy market liberalisation and to full cross-border integration of the EU energy market, and that they encouraged the Commission to pursue its original preferred option in debate with the other institutions. Asked about the planned Nabucco pipeline to bring gas from central Asia, Andris Piebalgs, Member of the EC in charge of Energy, said that the project should be supported because nobody doubts that there will be a need for this infrastructure. The European Union wants to reduce its dependence on Russian energy supplies.
SHOTLIST

Type: EbS   Reference: 58870   Date: 04/09/2008   Duration: 00:03:25
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