The European Energy Community: Expectations of the Caspian Sea littoral states from membership prospective

The European Energy Community: Expectations of the Caspian Sea littoral states from membership prospective

As a major consumer of natural gas, the European Union (EU) is aiming to implement its fundamental strategy - full integration of the regional markets in the European internal energy market by strengthening its energy security through a diversification of supply sources and routes. The European Energy Community, which guiding principle is rather the import of the EU energy policy into non-EU countries, plays one of the most significant roles in this process. The Energy Community celebrated its eighth anniversary on 24th of October, 2014. Established in 2006 to extend and fully integrate the EU internal energy market further to South-Eastern Europe, and to increase socio-economic stability in the region, and security of supply as a whole, it has set a good example of regional co-operation. Its members made commitments to liberalise their energy markets and implement the functioning of the European institutional framework in the fields of electricity, gas, environment and renewable energy. Members of the Eastern Partnership, such as Moldova and Ukraine, are the contracting parties of the Energy Community, while countries like Turkey and Armenia have the status of observers. [Tweet "Adoption of the primary legislation of the EU has helped them to open up their electricity and gas markets"]To this date, the Energy Community has established an effective institutional framework that would allow its contracting parties to harmonise their regulations with EU standards. Adoption of the primary legislation of the EU has helped them to open up their electricity and gas markets to competition on the basis of the Second Energy Package, including the general rules on market access and measures to improve energy efficiency. [...]

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