The European Union (EU) Energy Policy Challenges and the Way Forward

Abstract

Europe considers energy a top priority considering the fact that Europe depends heavily on foreign imports of its oil and gas.[1] Ensuring and safeguarding security of supply in Europe are two long-term important targets of the Union's energy policy. The 28-Member State European Union (EU) has been a growing natural gas consumers and involves in importing of its gas for ages. Its production rate kept on reducing as years go by, thereby increasing its dependency on foreign imports.[1]

Natural gas is a regional product with regional buyers and sellers exercising control over it, quite different from other resources.  This work is a review of the possible challenges faced by the European Union (EU) Energy Policy in the area of complexity and ambiguity of shared energy competence, the inconsistent issues arsing in the EU energy market and the lack of solidarity among Member States.

Further, it will consider security of supply, diversification of gas imports and supply routes, a functional EU energy market, liberalisation of the energy market, an integrated EU energy market, Renewable Energy (RE) mix and many more as the way forward to achieving a hinged free EU policy.