Mr. Šefčovič commented on the Energy Charter Process achievements of 2014, particularly the performance of the five-yearly review of the organisation, the adoption of the Astana Declaration for the organisation's further development, and the agreement on the new International Energy Charter, the adoption of which is anticipated in spring 2015. Mr. Šefčovič stated: "My message today is that the European Commission is fully committed to making the realisation of these goals a success. The Commission will continue to work in close cooperation with the EU Member States and all contracting parties and signatories to ensure that the new Charter and the Energy Charter Treaty continue to be regarded as corner stones of global energy architecture."

Mr. Šefčovič also outlined his approach to building EU's Energy Union, a priority agreed by EU leaders in 2014. The aim of the Union will be affordable, secure and sustainable energy. A more holistic approach to energy will be adopted across different policy areas, covering also climate, transport, industry, research, the digital economy and agriculture. The expected result of this would be a significant contribution to Europe's competitiveness and economic growth. Mr. Šefčovič highlighted that achieving energy security required international cooperation beyond EU borders.