On November 7th 2006 a memorandum of understanding on energy co-operation was signed between Azerbaijan's President Ilham Aliev and European Commission President Jose Manuel Barroso. The agreement is a further indicator of the EU's policy to diversify energy suppliers throughout the region in order to secure supply to the European market. For European consumers, the Caspian energy reserves and the pipelines that bring the oil and gas to Europe's doorstep are increasing in importance. The EU currently imports 50 per cent of its energy needs but that figure is set to rise to 70% by 2030. As winter draws in, the price of energy will remain high on the agenda. Released to coincide with the conference "Towards an EU external energy policy to ensure a high level of supply security" which takes place in Brussels on the 20th and 21st November the VNR highlights some of the EU's energy relationships from Ukraine to Algeria. It examines the importance of investment in transmission and the report raises the potential of having one voice on energy, enabling the EU to secure supply on behalf of its 450 million strong market.
This news report includes interviews with Jean Marie Chevalier, Professor of Economics, Centre of Geopolitics of Energy and Raw materials, Dauphine University, Benita Ferrero Waldner, European Commissioner for External Relations & European Neighbourhood Policy and Mikayil Jabbarov, Deputy Minister of Economic Development, Republic of Azerbaijan.
Type: VNR Reference: I-052701 Date: 16/11/2006 Duration: 07:51 Available Languages:INT, EN