Arab Today, arab today eu \needs energy union to safeguard industry\
Last Updated : GMT 20:44:58
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EU \'needs energy union to safeguard industry\'

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Arab Today, arab today EU \'needs energy union to safeguard industry\'

Warsaw - AFP

Europe needs an energy union to safeguard its independence and competitiveness, a top EU official said on Friday as the threat of a Russian gas cut hung over some member states. "We need a European Energy Union to regain our energy independence and security, as well as our industrial competitiveness," Michel Barnier, European Commissioner for Internal Market and Services and Industry told delegates to a banking symposium in Warsaw. He echoed Polish Prime Minister Donald Tusk who in April urged the 28-member EU to come up with a blanket energy strategy to mitigate the threat of Russia cutting gas supplies via Ukraine. Moscow has threatened to cut off supplies to Ukraine from June 3 after switching to up-front payments because Kiev has amassed a gas debt of $3.5 billion (2.6 billion euros). Nearly 15 percent of all gas consumed in the EU is delivered from Russia via Ukraine and Brussels fears that a cutoff could lead to disruptions in supplies to the EU. Central European leaders vowed this week to forge a gas solidarity mechanism aimed at counteracting supply cuts from Russia.

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