... actually decline and imported gas will increase, the competition is expected to heat up a lot after 2015 as more potential suppliers enter the market (e.g. Qatar). By 2020 the market will need an extra 50 bcm on top of the existing contracts as certain long-term contracts end, but supply will increase by 250 bcm in essence flooding the market and leading to old contracts to be renegotiated more robustly. Lastly, Europe’s notorious Third Energy Package is set to split gas transmission and storage from commercial activities. This will create a single trading hub as LUKoil points out for the entire area and as policymakers hope, eliminate major differences in prices, but as my older posts ...
... role which stirs much uncertainty and mistrust, as once this giant wipes of the rheum around its eyes and springs back full of energy, its only natural room to manoeuvre seems northwards. Even if the world does not tremble, Russia fears that at the least ... ... of the leading Russian experts on energy matters, Dr. Tatiana Mitrova. To view the first part of this series focusing on the European-Russian relations, click the following link: European Energy Woes. Moreover, for those that follow my blog, as promised ...
... of Anglo-Saxon model so the positions are different in comparison to the EU. Situation there ended in a cancellation of the long-term contracts, but compensation was paid out to the suppliers – contracts were torn with Libya, Algeria and LNG supplies ... ... mutual consent – which was done essentially due to pressure.
It is difficult to say whether this is possible in mainland Europe, as back then USA and GB were self-sufficient in energy so these contracts were not vital. However in Europe, we are talking about a region that will be increasing its energy ...
... Institut d’Etudes Politiques de Lille (Sciences Po). His research concerns capitalism, religion, ethics, civil economy, European Union and wider Europe like Russia, Ukraine and Turkey. He is an Associate Editor of the journal TELOS and Fellow of ... ... official commitment to economic modernisation, on the one hand, and authoritarian consolidation, on the other hand.
Energy Calamity
It is argued by some that the Russo-European relationship has soured creating an anti-Russian stance. Has ...
... quickly recall my keen interest in the Renaissance's jack of all trades. However, on a serious note, Russia is facing perhaps one of the biggest challenges in the upcoming decade as its economy is overly dependent upon natural wealth, but our main European market is quickly becoming less accessible raising the question: where to go? Aside, long-term diversification from energy export dependence, Russia has a relatively shorter-term option: to expand into Asia, but this option is far from easy and requires tricky manoeuvres.
Personal Note: I should have uploaded this particular post on RIAC from the start to make ...
... Russia was unable to play-off Europe against China, due to the latters pressure. Russia hoped to supply both markets with its European gas fields, thus making its customers compete against each other (See: Reuters). However, on the brightside Gazprom agreed with China in regards to long-term contracts, thus allowing it to develop the riskier fields as export was more guaranteed. At first, I was sceptical about ... ... acquired TNK-BP for a hefty sum of $55 billion (See: OGE). I was again unfortunate, not to speak with Alexander Novak, Minister of Energy, at "the Russian Energy Conference", due to this deal being done outside the public eye - as is the case in the ...
... Between Formal and Informal Politics (2011, Routledge) and has published numerous articles in journals such as Democratization, Europe-Asia Studies, Electoral Studies and Studies in Ethnicity and Nationalism. Rico has undertaken media work commenting on ... .... So the Russian population in Central Asia is the key political interest of Russia, with the other interest being of course energy. The integrated transportation system for oil and gas, which existed since the Soviet period, still mainly runs through ...
... and supply spiralled due to shortages resulting in extortionate consumer rates. With long-term contracts such seasonal, speculative and erratic events are less likely.
... ... right is a business cliché. It still underlines that Russia needs to appreciate European interests as it is its biggest market and will be at least in the foreseeable... ... A recent contract among Russia and Germany which will bear 6% of the latter’s energy needs, shows evolution of the former’s business approach and the fact that...
... RusEnergy): The Price is Right?
As stated by M. Krutikhin, in the foreseeable future the energy sector will experience price turbulence. In regards to oil, official forecasts... ... the Middle East, aside from this being a double-standard as it tends to avoid Russian long-term contracts by saying short-term hub trading without a fixed price is the future... ... over $290 per 1000 cubic meters, which is $110 cheaper per measure in contrast to the European consumers, whilst gas is also only really needed in Manchuria. So, not to exacerbate...
