The energy sector is one of the central pillars of economic growth and competitiveness, and of social and territorial cohesion in Europe. The signing of the Coal and Steel Treaty in 1951 and the European Atomic Energy Treaty in 1957 marked the significance of the energy sector throughout Europe. Since, many developments have led to profound changes in the energy sector regarding supply chains, company structures and employment issues. In March 2007, one of the most important turning points in EU energy policies was made when the EU agreed on the legally binding targets of reducing greenhouse gases by 20% in 2020 and raising renewablesu0092 share of energy consumption to 20%, also by 2020. This was followed by a communication from the European Commission, u009120 20 by 2020u0092, released in January 2008.