EU official: Energy diversification contributes to price regulation

Diversification of the energy sector creates better opportunities for competition and contributes to price regulation.

Cristina Lobillo Borrero, director of the European Commission for Energy Policy Strategy and Coordination, made the statement on the first day of the conference within the Baku Energy Forum, Report says.

Borrero noted that diversification in Europe started about 10 years ago: "We launched diversification of energy resources and supplies in the European Union since 2014. The first requirement is that each gas-importing country must receive gas from at least three different sources and, first of all, LNG."

The EU representative added that work is underway to develop the renewable energy sector: "Our initial plan is to reach a capacity of 100 MW by 2050."