EU Energy Union – New Packaging for Old Projects

... energy at a cost of around EUR 400 billion annually. Six member-states are entirely dependent on a single external supplier for their entire gas imports, making them extremely vulnerable to supply shocks (and it is common knowledge that this supplier is Russia, although the document of the European Commission diplomatically passes it over in silence). Roughly 94 per cent of transport relies on oil products, of which 90 per cent is imported. Collectively, the EU spends EUR 120 billion per year on direct ...