Nicosia, Cyprus. Energy security is a central priority of Cyprus’ presidency of the Council of the EU, Energy Minister Michalis Damianou said, stressing the need for a resilient system that can withstand external shocks while keeping energy affordable.
Energy resilience amid geopolitical volatility
Speaking at an informal meeting of EU energy ministers in Nicosia on Wednesday, Damianou said Europe was navigating a complex geopolitical landscape, marked by ongoing conflict in the Middle East and persistent volatility in global energy markets.
“We are meeting today … amid persistent energy challenges that require a stronger and more resilient energy union,” he said.
He said strengthening energy security must go hand in hand with maintaining affordability for households, businesses and industry, describing this balance as a key objective of Cyprus’ presidency.
“Under our motto, ‘an autonomous Union open to the world’, we are focusing on safeguarding Europe’s economic and energy security, while maintaining affordable energy prices,” he added.
Meeting agenda includes AccelerateEU, storage and gas after 2030
Damianou said discussions at the meeting would centre on the AccelerateEU initiative, electricity storage and broader energy security issues, as well as the future role of natural gas beyond 2030.
Referring to recent geopolitical developments, including tensions in the Middle East and disruptions to key transport routes, he said the EU was once again facing challenges linked to external factors and fluctuations in fossil fuel markets.
“Although Europe is not currently facing immediate risks to supply security, our resilience depends on how we address these external shocks through unified action,” he said, underlining the importance of coordination among member states.
He added that policymakers must strike a balance between short-term targeted measures to ease pressure on consumers and long-term structural reforms aimed at building a more robust energy union.
Call for swift implementation of AccelerateEU
Damianou highlighted the importance of swiftly implementing the AccelerateEU initiative, recently presented by the European Commission, describing it as a key tool in addressing current challenges.
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