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The main aim of this paper is to identify the main threats and challenges presented to Lithuania by the recent developments in the international sphere of energy politics. Lithuanian energy security is impaired not only by its geopolitical location and lack of diversification of supplies, but also by the lack of solidarity within the EU when dealing with issues of external energy policy. The officially declared global and unified approach results in a series of bilateral agreements, which are oriented to national rather than EU interests. Maybe it would be naive to expect 27 countries to have the same objectives in the energy area, but a common policy and principles of how to diminish common threats and dependence on third parties could be implemented. The paper consists of mainly three parts – the European, Russian and Lithuanian approach. The aim is to show the political vulnerability stemming from the economic dependence, therefore an overview of the energy market and main policies is presented. There are also parts of the paper dedicated to the explanation of the existing infrastructure, proposed and implemented policies as well as recommendations. The questions are raised concerning the interdependence of the main players of the energy market, possible threats arising from bilateral cooperation, the struggle between national and European interests. When dealing with Lithuania the focus will be to demonstrate that Lithuanian energy security is a question of great concern and should be approached on the national as well as European level. The paper will also attempt to assess Russia’s reliability as a supplier and trading partner as well as the question of the use of energy as a tool of external policy.