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In May 2014, in the aftermath of Russia-Ukrainian crisis, the European Commission adopted European Energy Security Strategy, establishing two pillars of European security of supply: prevention and mitigation. The main goal was to prevent gas supply disruptions by implementing “gas stress tests” (modelled by ENTSOG) and to foster solidarity ...
... mutually beneficial projects, however, in the current context of low oil/gas price it seems uneconomic to invest about 5 years in exploration, appraisal and development, waiting for another 5-8 years for a project to pay out. It is also difficult for Russia to imbed itself in Asia given Chinese concerns for energy security and even the 400bln deal on the Power of Siberia does not make Russia a ‘swing supplier’ reinforcing its leverage vis-à-vis Europe. All in all, Russia presents a textbook example of a resource cursed country subject ...
... released volumes of APG, encouraging them to bring the number down to minimum. Approximately 40% of recoverable oil reserves in Russia are characteristic of APG content, whereas the oil fields that are responsible for flaring are mostly concentrated on the ... ... Siberia, between Yamalo-Nenetsk and Khanty-Mansiys regions. The underlying reason for flaring rather than the gas usage for energy purpose is the lack of nearby markets and sparse population with its insufficient local gas demand. Thus, in order to avoid ...
... resource endowments and its ambition to increase production from the greenfield projects (such as in Sakhalin or in the Arctic offshore), it will be increasingly difficult for it to avoid international stigmatization regarding its not-so-well developed energy-efficient approach to resource management and production. In 2007, in his State of the Union address, Russia’s President Vladimir Putin recognized that 20bcm of annual flaring in Russia, which equals 30% of European annual gas consumption, must come to an end. Later on, Russian government announced its goal to cut carbon dioxide emissions by 25% ...
... European Union are trying to limit each other’s influence in the energy sector. Europe has adopted a complex of measures called the Third Energy Package aimed at defending its domestic market from foreign influence, as well as sanctions against the Russian energy sector. Conversely, Russia is shifting away from the EU in favor of enlarging the Asian market share of developing countries. Russia and the EU look at the South Caucasus region differently. Russia does not consider it important in terms of its ...
... was delayed by debates about the location of the terminal and other technical quarrels between the partner countries. The situation in the gas sphere is no less complicated as the Baltic countries need two liquefied gas terminals to achieve “energy independence” from Russia. The building of a regional LNG infrastructure financed out of the EU budget was delayed by debates about the location of the terminal and other technical quarrels between the partner countries. The problems were only settled by the autumn of 2015....
... crude oil imports from the Middle East, which could be easily disrupted by political crises. As a result of these circumstances, Chinese crude imports from Russia increased by 36% in 2014, while imports from other major OPEC nations plummeted.[9] Russian energy data from January to September 2014 showed a nearly 45% increase in crude exports to China and 20% decrease in its exports to Europe.[10] On the natural gas front, deliveries from Russia via the Sila Sibiri pipeline, expected to start in 2019, ...
... contrasts with support for domestic companies to secure advantageous positions on the Russian market. To this end, energy companies, including BP and Shell, have received consent from the British and Dutch governments to pursue joint ventures with Russian energy firms despite London’s strong support for sanctions against Moscow. BP has already used this to its advantage. The oil company has purchased a 750 million USD stake (20%) in Siberia’s Taas-Yuriakh field from Rosneft and the two companies ...
... Moreover, the difficulties in implementing cooperation projects between Russia and a number of European countries and the United States, have given a significant spark to Russian-Turkish interactions, mainly in the economic sphere. Key areas of cooperation Russian-Turkish joint projects in the energy sector are attracting attention, not only in Russia and in Turkey, and have piqued interest far beyond the borders of the two states and the countries of the Black Sea region. During his state visit to Ankara on December 1, 2014, Vladimir Putin ...
... by challenges in creating an adequate system of governance at the EU level. The initiatives relating to external energy policy are set out in very careful wording. However, their implementation even on a limited scale could have a negative impact on Russian energy suppliers (gas suppliers, in the first hand). The best way to prevent the emergence of a truly common EU external energy policy is to ensure the security of Russian supplies and the positive dynamics of the political relations between Russia and ...
| U.S. wants to establish partnership relations with Russia on condition that it meets the U.S. requirements |
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| U.S. wants to deter Russia’s military and political activity |
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| U.S. wants to dissolve Russia |
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| U.S. wants to establish alliance relations with Russia under the US conditions to rival China |
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