Countries in Eastern Europe and the Former Soviet Union are highly energy inter-dependent and facing similar challenges in terms of energy security. This is a global as well as national issue, which needs to be addressed in terms of energy efficiency, diversification of energy sources and types, strategies to manage price volatility, and also environmental implications. While the economic crisis has currently pushed aside energy security as a priority, pressures are building and policy-makers need to take decisions that have long term ramifications and may substantially impact the economic outlook at both the country and the regional level.