To strengthen energy stability, Europe needs to develop renewable energy sources and abandon Russian energy resources, but also pragmatically increase domestic oil and gas production. This approach, combined with the development of energy links with neighboring regions, investments in critical supply chains and compliance with strict environmental regulations, can strengthen Europe’s energy self-sufficiency and its broader strategic capacity.
Robin Mills, a researcher at the Center for Global Energy Policy, said this in an interview with GuildHall.
– What steps can Europe take to achieve energy independence?
– Focus on energy efficiency, electrification of transport and home heating, accelerating the introduction of renewable energy sources, reducing construction time and the cost of obtaining permits. Avoid energy subsidies and ensure that consumers bear the full cost of energy, including environmental costs; if necessary, provide separate financial support to low-income consumers. Complete the abandonment of Russian energy resources.
– What changes in energy policy priorities should the EU implement to strengthen energy independence in the coming years?
– Integrating energy markets with neighboring regions and improving the interconnectivity of electricity and gas networks, including links with Ukraine, Turkey, the Caucasus/Caspian region and North Africa. Serious investments in domestic and international supply chains for critical minerals (mining and processing), as well as in the production of certain energy technologies. Stimulating significantly more venture capital funding for energy technologies that are close to commercial deployment.
– How do you assess the idea of increasing domestic oil and gas production in Western countries, especially in terms of its potential impact on defense capabilities?
– Western countries should increase domestic oil and gas production as much as possible without infringing on investments in low-carbon energy and complying with strict environmental standards. This includes production in the North Sea, the Black Sea and the Mediterranean Sea. This will ensure domestic tax revenues, create jobs and increase self-sufficiency. However, Europe will still be forced to import most of its oil and gas.
Exclusively for Guildhall.
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