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Tuesday, 28 February 2012

Changes in energy deal-brokering with non-eu countries

According to most recent reports of the European Parliament Press service, the European Commission could vet proposed bilateral energy deals between EU Member States and non-EU countries for compliance with EU law under draft legislation approved by the Industry, Research and Energy (ITRE) Committee this week. MEPs underlined what would happen if deals do not comply with EU law and inserted safeguard clauses to protect all parties.
The legislative proposal, tabled by the Commission last September, would require EU Member States to share, with the Commission, the details of all bilateral energy supply deals that they negotiate with third countries. It would also enable the Commission to attend negotiations as an observer, and to check that the deals comply with EU law.
The main aims of the draft legislation are to prevent the EU from being put in a vulnerable and disadvantageous position with regard to the security of energy supplies for industry, and also to ensure economic efficiency, sustainability and fair consumer prices.

Source: European Parliament