ENERGY SECURITY IN EUROPEAN UNION

According to International Energy Agency global demand for oil is expected to grow by 39% by 2030 and for gas is projected to grow by 67% by 2030. The European Union currently imports around 40% of its oil from the Organization of Petroleum Exporting Countries (OPEC), according to the Commission Green Paper on security of energy supply the energy dependency in European Union will climb from 50% in 2000 to 70% in 2030. On the other hand the energy resources are limited and pressure on environment is high. In this context the article aim is to analyze the aspects of supply security in European Union a key concern for the competitiveness of economy.