EC Vice President Sefcovic: EU Wants Transparency, Secure Energy Supplies

European Commission Vice President Maros Sefcovic has said that the EU pays a lot for energy supplies and expects to be treated as a major customer.

In an interview for Russian newspaper Kommersant, Sefcovic informs that a new legal framework in the field of intergovernmental agreements and commercial supply contracts is being created, adding that the changes are aimed at boosting transparency and security.

He says that the draft for the changes to the EU Regulation (EU) No 994/2010 on the safety of gas supplies and to Decision No 994/2012/EU establishing an information exchange mechanism on intergovernmental agreements between Member States and third countries in the field of energy should be ready in 2015-2016.

The EC Vice President states that the amendments are aimed at boosting transparency in the system of commercial contracts, at the same time respecting trade secrets.

He argues that diversification means lower prices.

Sefcovic underscores that transparency is essential, taking into account that the EU pays as much as EUR 400 B a year for energy supplies and expects to be given adequate treatment as a major customer.

Asked to outline the EU criteria for energy security and the conditions which will make the EU decide that a particular contract constitutes an intergovernmental threat, he says that the criteria have been listed in the EU energy strategy and the document on the EU energy union.

Sefcovic emphasizes that the EU seeks to achieve energy diversification and prevent excessive dependence on a single supplier and make sure that deliveries arrive safely without interruption.

As regards Russia’s decision to quit the South Stream gas pipeline project, he points out that the move has not been discussed with the European Commission or EU Member States or European companies.

“As far as I know, this decision was just announced at a press conference. I'd say it was a clear signal to us that we need to find alternative solutions for energy supplies to Southeastern Europe. We are now discussing opportunities to achieve this. We have created a special high-level group on the development of gas networks in Central and Southeastern Europe and it has already started functioning. The main goal is to make sure that, within a reasonable period of time, each country in the region has access to three different sources of natural gas as a result of developing gas grid interconnections and building gas pipelines,” he declares.

He informs that the first results of the work of the working group are to be available in June.

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