European Energy Integration in East European Countries: Real Necessity to Assure Fair Market prices for Energy Resources

Abstract

In order to assure energy, and therefore, economic stability of East European States (hereafter EES) there should be undertaken visible steps towards deeper energetic integration of the region under the coordination of EU. In such a way there will be considerably strengthened the regional economic security through creating functional mechanisms of solving current and potential energy issues including diversification of supplies and fairer market prices. Moreover, it will be possible to develop and implement more effectively energy infrastructure projects. Deeper and more functional energy integration in EES will create favorable preconditions of fostering the states’ economic development. Also, there will be considerably reduced the macroeconomic risks which could possible occur as a result of the struggle of interests of importing and supplying countries. The current paper is intended to underline the most important weaknesses in terms of energy security of EES and exemplify how efficient these problems could be tackled by cumulating common countries’ efforts in the sector. Also, it highlights the shortcomings of EU energy policy in EES and how these affect the economic prospective of the countries. Finally, it is remarked that EES need a common energy market in order to strengthen their negotiation positions in relation with supplying countries.