Azernews.Az

The European Union needs long-term energy cooperation with the new partners, EU Energy Commissioner Gunther Oettinger said in a speech at Carnegie Europe essay series in Brussels posted on his official website.

Oettinger said that new gas pipelines will be necessary beyond 2020 to give the EU countries greater diversity and to serve as a transitional fuel.

``But they also serve a strategic role, bringing us closer, literally, to our partners,`` the Commissioner stressed.

According to Oettinger, integrating energy systems with the EU neighbors is a long term project bringing greater security and stability to the continent.

At present, the diversification of routes and gas sources is a strategic priority for the EU.

The Southern Gas Corridor of pipelines is the top priority project for the EU, which will allow it to diversify energy supply routes and sources and, therefore, to increase energy security of the European countries. Gas to be produced during the second phase of Azerbaijani Shah Deniz field development is the main source for the projects within the Southern Gas Corridor.

Oettinger said that strategic corridors, such as the Southern Gas Corridor, for Caspian gas imports into Europe, should be based on EU agreements setting out key principles and covering all partner countries at once.

``In the future, a strong European energy policy will help Europe face the economic and political uncertainty we are currently in,`` Oettinger said.

He also said that between now and 2050 energy is likely to be one of the greatest geopolitical challenges, not just for Europe, but for the whole world.

``The geopolitical challenge poses further risks,`` Oettinger said citing the changes in North Africa, the Middle East and Japan in the last year as an example.

He added that world energy demand threatens to grow faster than global production, creating the potential for a global energy squeeze.