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Extra resources for Geo-Politics of the Euro-Asia Energy Nexus: The European Union, Russia and Turkey

Sample text

31). 5 per cent. Over the period in question, supplies from major partners Norway and Saudi Arabia experienced a constant decrease, a fact that may signal a type of diversification that is specifically pertinent to the EU’s oil-needs profile. 2 indicates, Russia and Norway constituted the major EU trade partners in 2006, supplying respective shares of 42 per cent and 24 per cent. 2 per cent of the total. Although their shares within overall EU imports remained relatively minuscule, Libya, Egypt and Qatar nonetheless made some inroads into the EU market, indicating some fervency in the EU’s search for alternative natural gas suppliers over the last decade.

Additionally, current national regulatory authorities could be united under a ‘European system of energy regulators’. However, the same concerns about the transfer of sovereignty over energy issues would persist and hinder members’ will for further development of European Energy Policy. ). The Council of European Energy Regulators (CEER) and the European Regulators’ Group for Electricity and Gas (ERGEG) exemplify existing structures that can be further modified to act as regulatory bodies. 1 It is possible to state that the EU is close to establishing a regulatory body, as there have already been some efforts to bring together separate national energy regulators.

4). However, for European policy makers, the creation of European Energy Policy involves multiple issues, both internally and externally, and different players. Memberstate views on the appropriate nature of policies frequently diverge: Should it be integrated, national or detached from state intervention (Pointvogl, 2009, p. 5705)? How responsibility for energy policies is to be divided between ‘EU-level actors, governments, energy companies and consumers’ has also emerged as one of the central challenges facing EU Energy Policy (Benford, 2006, p.

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