President Putin’s decision to cancel work on the South Stream pipeline may have far-reaching consequences regarding the development of a single energy market within the EU. Although Commission President Juncker (and Bulgarian Prime Minister Borissov) have publicly stated that South Stream remains a potentially viable project, its de facto mothballing by Russia provides the EU with an opportunity to develop alternative energy scenarios in south east Europe.
These are scenarios which would improve both the diversity and security of the EU’s energy supply. This IN FOCUS sets out five key reasons why the end of the South Stream pipeline should mark the beginning of moves towards an European energy union.
IN FOCUS is a new series of commentaries in which the Martens Centre looks closely at current policy topics, dissects the available evidence and challenges prevailing opinions.