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May 26th, 2011
Speech of Commissioner Oettinger at the South Stream Event

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The Russian-European energy partnership is at the core of security of supply considerations in the EU, and of energy relations on the European continent. The Russian Federation is the most important energy partner of the European Union. This will remain so in the future. Russia in 2009 accounted for 36% of EU gas imports – around 6% of the EU’s gross energy consumption. On the other hand, the EU is by far the largest trading partner of Russia. 47% of all Russian imports are from the EU and the EU accounts for about 75% of foreign investment in Russia.  Read More