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Russia is the main energy supplier for European Union

Russia is the main energy supplier for European Union (EU) countries, according to Eurostat. The statistics show that in 2015 more than 29% of oil, 29% of solid fuels (mainly coal) and 37% of gas imported to EU came from Russia. With regard to gas, 33% of imports are from Norway and 11% from Algeria. Norway also holds 12% share of oil imports. Statistics also show that in the Top 3 importers of solid fuels are Colombia (24%) and the United States (16%)

The EU as a whole is highly dependent on energy imports and vulnerable because it relies only on several sources.

In 2015, 54% of the bloc’s energy needs were covered by imports, according to Eurostat data. This percentage is particularly high in the smaller countries – Malta, Cyprus and Luxembourg, which rely almost entirely on imports of energy sources, and fall below 20% for countries like Estonia, Denmark and Romania, which rely on local extraction and renewable sources, thus reducing their dependence on imports.

Below 40% is Bulgaria’s energy dependence due to local coal mining. The solid fuels actually play an important role for Bulgarian energy, as coal has a share of 35.8% of the energy mix. In addition, nuclear power also gives some independence to the country, as its share in the mix is ​​about 21.5%. The share of natural gas in the energy mix in Bulgaria is 14% and oil is 22.7%, shows statistics for 2015. Renewable assets are just under 11%.

In the EU, core energy sources are nuclear and renewable, with 28.9% and 27%, respectively, of total energy production. Solid fuels occupy the third place with 19%, and natural gas has a share of 14%.

About Viliyana Filipova

Viliyana Filipova is 27 year-old girl from Varna, Bulgaria. She is founder and Chief Editor of Finance Apprise Journal, working also as analyzer on the world finance and commodity markets.

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