Challenge of the European Union’s Energy Security Approach

Abstract

The diversification of energy supplies is a fundamental principle in the planning process of the energy security, and it implies ensuring access to diverse sources of supply, so it is evident that the activities related to energy security in Europe and the world in future will gain momentum and will be a challenge plus for western community. The main political and economic efforts of the European Union are canalized towards the creation of functional sustainability which in future could be provided only through the energy stability and timely delivery and cost-efficient supply of energy and resources to its economy. That is why the European Union is intensively improving its own energy security, the production, the transport and the development of alternative energy sources at the expense of fossil fuels. The main determinants of the European energy policy actually relate to reducing energy dependence, better utilization and regular supply of natural gas and other fuels and find alternative solutions.