February 14, 2023 by James Kneebone

energypost.eu

The security of supply of gas has been the hottest topic of the last 12 months since Russia invaded Ukraine. James Kneebone at the Florence School of Regulation (FSR) has written an explainer that lays out the EU’s history of dealing with energy security, going back to the 1990s. Because the EU has a single market for natural gas and widely shared value chains (pipelines, LNG terminals, storage, etc.), impacts are felt across the bloc. But that interconnectedness is also a strength and the basis for ensuring security across the region. Kneebone also details the updated regulations that are behind the drive to build in new capacity and obligations for solidarity between Member States. It means that today, the coordination and cooperation for allocating resources and delivering better energy security are stronger than ever.

What is security of supply?  

The European Environment Agency (EEA) define security of energy supply as “…the availability of energy at all times in various forms, in sufficient quantities, and at reasonable and/or affordable prices.” In the context of gas security of supply specifically, the concept refers to the provision of gaseous energy, namely ‘natural gas’^[1].

What does a security of supply risk look like?  

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