European Commission: Energy diversification helps regulate prices

Diversification of the energy sector creates better competition and helps regulate prices, Cristina Lobillo Borrero, Director for Energy Policy, Strategy and Coordination at the European Commission's Directorate-General for Energy, said on the first day of the conference within the Baku Energy Forum, Report informs.

Borrero noted that diversification on the continent has begun for about 10 years:

"We have been diversifying energy sources 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 LNG is at the forefront."

The EU official added that according to the Paris Agreement, carbon dioxide must be neutralized by 2050: "We are working for the development of the renewable energy sector. Our initial plan is to reach 100 MW in 2050."