Enhancing the security of energy supply is a matter of strategic interest for the European Union. A well-functioning European energy market, characterised by diversification in terms of sources, fuels and routes of supply, plays a crucial role in this regard. The signature of the Nabucco agreement is a concrete step in realising the Southern Corridor concept and its vision of deeper cooperation on energy to the benefit of consumers, producers and transit states alike, as expressed by the Prague Summit on the Southern Corridor in May 2009.
Energy security is one of the areas where the EU and Turkey have a common strategic interest in strengthened cooperation, given the EU’s strong drive towards more diversified supplies and Turkey’s key role in this context.