Perspectives on transatlantic cooperation: Energy and EU-US relations

02-12-2016

Energy as a subject of relations between the EU and the USA has been characterised by considerable synergy on security of supply issues, and efforts to enhance free trade in energy products and services, cooperate on geopolitical challenges and nuclear safety, reduce greenhouse gas emissions and promote renewable energy sources. The recent lifting of US export restrictions on crude oil and natural gas is likely to increase energy trade with the EU, and allow Member States to benefit from lower energy prices and more diversified supply. Bilateral EU US cooperation on energy issues could be further enhanced, perhaps by building on the framework of the EU-US Energy Council. There is also potential for more systematic EU-US cooperation on energy research and new technologies. Greater coordination of EU and US positions in multilateral fora negotiating energy issues could help these organisations to achieve more ambitious goals, complementing a stronger EU-US bilateral relationship. This briefing continues a series which formed part of a broader research project on perspectives on transatlantic cooperation in the US election year, requested by the Chair of the European Parliament’s delegation for relations with the United States.

Energy as a subject of relations between the EU and the USA has been characterised by considerable synergy on security of supply issues, and efforts to enhance free trade in energy products and services, cooperate on geopolitical challenges and nuclear safety, reduce greenhouse gas emissions and promote renewable energy sources. The recent lifting of US export restrictions on crude oil and natural gas is likely to increase energy trade with the EU, and allow Member States to benefit from lower energy prices and more diversified supply. Bilateral EU US cooperation on energy issues could be further enhanced, perhaps by building on the framework of the EU-US Energy Council. There is also potential for more systematic EU-US cooperation on energy research and new technologies. Greater coordination of EU and US positions in multilateral fora negotiating energy issues could help these organisations to achieve more ambitious goals, complementing a stronger EU-US bilateral relationship. This briefing continues a series which formed part of a broader research project on perspectives on transatlantic cooperation in the US election year, requested by the Chair of the European Parliament’s delegation for relations with the United States.