Promoting the international role of the euro in the field of energy

Details

Publication date: 5 December 2018
Author: Directorate-General for Energy
Related department: Directorate-General for Energy

Description

Objective of the consultation

Gather feedback from stakeholders on why the euro currently plays such a modest role as a medium of exchange in energy trade, both in terms of commodity transactions and operations, and along the entire value chain, from exploration and production through subsequent shipping and insurance to final discharge and consumption.

Key questions

The participants would be asked to explain what instruments could be best used to reinforce the international role of the euro in energy transactions. More generally, stakeholders will be invited to propose actions in the field of energy policy to strengthen the EU's position at the heart of global trading system and if the increased use of the euro could reinforce those actions by preserving the rules-based international system in a context of increasing geopolitical tensions.

Groups targeted (non-exhaustive list)

Member States, regulators; main energy suppliers; existing expert groups and fora; price reporting agencies; commodity exchanges; energy traders; financial infrastructure providers; major oil and gas producers; independent oil and gas producers; national oil companies; refiners; energy intensive industries; institutional and financial investors; academia, shipping companies, insurance companies; companies providing financial services.

Process

14/02/2019

Consultation

Consultation on the role of the euro in the field of energy