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Security of Supply
Another worrying factor is that oil and gas reserves are unevenly distributed around the globe, and the largest reserves are situated in politically or economically insecure regions, such as the Middle East and Russia. North Sea oil and gas fields have already been exploited beyond their peak, leaving Europe dependent on non-EU countries for future supply.
The European Commissions Green Paper (June 2002), Towards a European strategy for the security of energy supply on security of energy supply drew a sobering picture of the EU's energy situation. If no action is taken, it predicted, the EU's energy dependency would climb from 50 per cent in 2000 to 70 per cent in 2030. The situation for the main imported fossil fuels was described as follows: - 45 per cent of EU oil imports originate from the Middle East
- By 2030, 90 per cent of EU oil consumption will have to be covered by imports
- 40 per cent of EU gas imports originate from Russia (30 per cent Algeria, 25 per cent Norway)
- By 2030, over 60 per cent of EU gas imports are expected to come from Russia with overall dependency expected to reach 80 per cent
- By 2030, 66 per cent of EU coal needs are expected to be covered by imports.
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