Commissioner Cañete mentioned the following topics:
- The reality of EU energy supply today and what this means for EU policy priorities;
- Why the international context should act as an accelerator rather than a brake on the EU's energy transition over the medium term.
According to commissioner Cañete, it is necessary to solve the EU dependency on fossil fuels and mainly their imports. Import of gas represents the highest risks, because the EU is importing approximately 76% of gas from just two countries – Russia and Norway.
In the oil and coal sectors, the situation is better, because these markets are global, with multiple suppliers and multiple transportation options. In the short term perspective, it is necessary to diversify the gas suppliers, and to support Ukraine implementing its energy reforms.
Commissioner Cañete believes that wider use of renewables, increased energy efficiency, demand response mechanisms and energy storage systems will help to mitigate EU import dependency for oil and gas. New technologies and construction of new power lines and pipelines will contribute to the security of supply.
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