Status of Persian Gulf States in EU Energy Policies

Strategic location, import-oriented and military market as well as massive oil and gas resources are the most important reasons for the geopolitical significance of the Persian Gulf region. It is the crossroad of Europe, Asia and Africa and is home to about 65 percent of the world's oil reserves. Increasing need of industrial countries to energy, notably oil, has kept the region in the center of attention of great powers. The European Union is one the most important energy consumption blocks which is following the policy of diversifying its energy sources because of existing challenges in the field of oil and gas. The Persian Gulf region is among these sources.The present study reviews Europe's energy policies as well as regional relations of the union with the region. It hypothesizes that despite increasing international energy security challenges, (rising prices and intensified competition over resources with the presence of energy-hungry countries such as China and India), oil and gas resources of the Persian Gulf are considered for diversifying Europe's energy sources.