Energy security is increasingly occupying a top spot on the EU’s foreign policy agenda.
The unconventional oil and gas revolution, OPEC’s supply response, increased global
Liquefied Natural Gas (LNG) trade, persistent concerns about the reliability of Russian
gas supplies and the need to expand low carbon energies such as renewables to
address climate change pose opportunities and challenges to European energy
security. The EU has flagged these issues up in its flagship Energy Union
communication and the EU Energy Diplomacy Action Plan. The United States has
developed into a major exporter of Natural Gas Liquids and refined petroleum
products as a result of its unconventional oil and gas revolution. It might develop
export capacities for LNG and continues to be a major coal exporter. The mutual energy
trade could expand if the Transatlantic Trade and Investment Partnership (TTIP) were
concluded successfully. The United States is also a crucial partner of the EU for transport
security and the protection of critical energy infrastructure.