Lithuanian security of energy supply and consumption In the context of the European Union countries

Abstract

The aim of this paper is to describe Lithuanian’s position in the context of the 27 EU Member states according to the most relevant energy indicators, such as security of energy supply (energy dependency) and energy consumption. Economic sustainability and country’s security of energy supply and consumption assessment arise as comprehensive approach. The growth of global energy prices, significant dependency on imported energy and increase in energy consumption result international competitiveness of the country and pose constrains towards sustainable development. Restructuring of the economies from energy intensive industries towards more technologically advanced products and services might lead to higher value added per unit of product, and energy saving sectors with lower energy consumption per unit of output. In order to sustain international competitiveness of exporting sectors, it is necessary to diminish gradually intensity of expensive energy resources.