EU-US Energy Council stresses commitment to energy security

EU High Representative Josep Borrell was in Washington earlier this week for a meeting of the EU-US Energy Council with U.S. Secretary of State Antony Blinken. He co-chaired the EU side with Commissioner for Energy Kadri Simson. The purpose of the event was clear: establishing the stability of the transatlantic partnership and work to ensure gas supply to Europe and Ukraine in the event that the Russian crisis escalates and interrupts the flow of gas throughout the continent. 

“Today, our environment is characterized by the geopolitical turbulence in the context of the Russia and Crimea Crisis,” Representative Borrell said. “Energy issues are central to this crisis, because Russia doesn't hesitate to use the significant energy supplies to Europe as leverage for geopolitical gains. And when gas prices in the European Union have been increasing from six to 10 times higher than they were a year ago, this has a major impact on consumers and on the [competitiveness] of the economy.”

The Council agreed to make moves to protect the European energy supply. These actions range from encouraging other governments and producers to increase their production of gas to speaking with stakeholders in the energy sector about sharing energy reserves. The Council wants to mitigate any potential situation that might arise from further Russian aggression, and these measures will work in concert with broader actions the two powers are taking. 

“The timing could not be more important. This is a pivotal moment,” Secretary Blinken said. “We're working together right now to protect Europe's energy supply against supply shocks, including those that could result from further Russian aggression against Ukraine. Energy Security is tied directly to national security, regional security, global security. Europe needs reliable and affordable energy, especially in the winter months… When energy supplies fail, economies falter, we’re determined to prevent that from happening.”

These talks follow a joint statement in January from European Commission President Ursula Von Der Leyen and U.S. President Joe Biden which affirms the powers’ commitment to promoting a clean, affordable and reliable energy supply for Europe. 

The primary topic of the meeting was on the coordination of energy security in terms of the current Russian crisis, but it also focused on achieving the mutual goals of the EU and the U.S. to reach net-zero emissions by 2050.

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