Energy and security: Russia’s new obsession with the wider Black Sea region Revived by the economic recovery it has witnessed in recent years, and not necessarily weakened by the global financial crisis, Russia is demonstrating itself to be an increasingly assertive (political and economic) force in the wider-Black and Caspian Seas (BCS) basin. Exerting influence in the BCS region is a crucial element in the Russian geopolitical strategy, given the region’s importance both as an energy producer as well as its vitality as a primary corridor for the transit of oil and gas to international markets.

• EGF Editorial  |  Published on EGF: 26.05.2010  |  Energy
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Today, the European Parliament renewed its commitment to greater engagement by the European Union in the South Caucasus as it adopted a new resolution on EU policy in the region [1]. This is the first resolution dedicated to the South Caucasus countries since the launch, in 2009, of the EU’s landmark Eastern Partnership policy [2].

• AGBU Europe  |  Published on EGF: 24.05.2010  |  Energy
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Summary of Panel I: The Future of the Energy Charter and the Debate over the Third Package
The energy trade between Russia and the countries of the European Union (EU) is of fundamental significance for the energy security of each party. Despite the close proximity of the EU-Russia energy relationship, however, the legal and political basis underpinning this relationship, particularly with regards to the gas trade, has proven itself inadequate in guaranteeing the energy security of both parties. Russia's recent announcement of its intention "of not becoming a member" of the Energy Charter Treaty, and new proposal for global energy security has created further uncertainty. While it is hoped that a new government in Kiev will lead to an improvement of Russian relations with Ukraine, Ukraine's national gas transportation operator remains in a difficult financial position and another gas crisis embroiling Ukraine, Russia and the EU, whilst hardly imminent, cannot be entirely ruled out.

• EGF Editorial  |  Published on EGF: 21.05.2010  |  Energy
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Summary of Panel II: Russia’s Arctic Uncertainty
The discussion in the second panel of the online session, which focused on the future of upstream energy exploration projects in the Russian Arctic, brought out the following messages for European policy makers and was supported by the ensuing extended commentary. READ MORE

• EGF Editorial  |  Published on EGF: 21.05.2010  |  Energy
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“What lessons can we learn from the Soviet collapse and apply to the current situation in Russia?
First, we must remember that Russia today is an oil-dependent economy. No one can accurately predict the fluctuations of oil prices. The collapse of the Soviet Union should serve as a lesson to those who construct policy based on the assumption that oil prices will remain perpetually high. It would seem that in our country, which has lived through the collapse of the late 1980s and early 1990s, this fact would be evident. But as soon as the prices went up again at the beginning of 2000 and in 2004 became comparable in real terms to those at the beginning of the 1980s, the idea that ‘high oil revenues are forever’ has gained an even wider acceptance.

• Kari Liuhto  |  Published on EGF: 20.05.2010  |  Energy
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Energy Roundtable Summary Document

The EU-Russia energy roundtable discussion held at the Institute of World Economy and International Relations (IMEMO) on February 26, 2010, brought together a significant number of well known experts and policy makers engaged in the EU-Russia energy relationship in order to assess some of the challenges which presently exist in this sphere. Some of these challenges are summarised below. The objectives of the seminar organisers were to create an environment in which experts and policy makers could openly and candidly discuss the challenges standing before the EU-Russia energy relationship. The roundtable was also attended by a large number of participants from academia, government, energy companies and the diplomatic community.

• EGF Editorial  |  Published on EGF: 17.05.2010  |  Energy
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• Andrej Kreutz  |  Published on EGF: 05.05.2010  |  External Relations
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At the end of December 1999, as the world prepared to usher in a new Millennium, in Europe and other parts of the planet, there was widespread concern that the so called “Millennium Bug” would strike, causing unforeseen disruption and havoc. Ten years on, in December of last year, for many in Europe, the Millennium Bug was just a shade in the memory as a far more ominous concern was pressing home – the prospect of another gas crisis. Although the fact that the Russia-Ukraine gas dispute of January 2009 – and its knock-on effect of leaving much of Europe without natural gas in the peak of winter – did not repeat itself during the record cold European temperatures of January this year, the very fact that European attention has become so focused on this theme demonstrates how geopolitical developments in the European hinterlands have come to impact the day-to-day livelihood of all Europeans

• EGF Editorial  |  Published on EGF: 16.03.2010  |  Energy
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• Karel Beckman  |  Published on EGF: 16.03.2010  |  Energy
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• European Commission  |  Published on EGF: 16.02.2010  |  Energy
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