It could still be completed if European companies withdraw and Gazprom takes full ownership. For Russia, exploiting European energy dependence for geopolitical purposes is a slippery slope in practice. Following the use of natural gas supply as economic leverage during the conflict, Ukraine pursued a strategy of rapid natural gas supply diversification. For over two years, Ukraine imported no Russian natural gas, only resuming imports at a fair price in If Russia tries to leverage its oligopoly position in the short term, the European response would likely cause a large loss in market share and revenues in the long term.
In natural gas, market dependence goes both ways; Russia has more to lose from a supply embargo than it could hope to win. The EU has already addressed many gas security vulnerabilities through market development and supply diversification, particularly from new LNG import facilities. In July, maintenance on Nord Stream 1 cut pipeline capacity to zero; increased Norwegian gas flows, LNG, reduced storage injections, and changes in European energy flows prevented any major disruptions.
Some opposition to the pipeline comes from U. However, despite discussion of up to 11 new import terminals, Europe is unlikely to develop additional LNG capacity. Nord Stream 2 could enable lower priced Russian gas, but it is unlikely to significantly impact U. To better and more productively support European energy security, the U.
Web Articles (2017)
LNG imports. LNG export facilities are nearing Final Investment Decisions and final regulatory approvals, which could catalyze a truly liquid, global LNG spot market. Maintaining an open, liquid global LNG market may be the best the U. Morgan D. He has over two decades of experience in energy, natural resources, and environmental policy and international affairs. He holds a Ph. He is a Member of the Council on Foreign Relations. Alex is Cofounder of SparkLibrary, where he leads software design, energy data analysis, and policy evaluation.
Previously, Alex analyzed electricity, natural gas, and oil markets for private sector clients at Haynes and Boone. By Alex Gilbert and Morgan D. Bazilian - 26 September Climate change, energy and sustainability. Think Planetization Not Nationalization. Disqus comments. View the discussion thread. Asia's energy landscape today is a cluster of segregated markets. A change may be in order. But while there are many reasons for the West to dislike the gas deal, it may not as bad as it seems.
In fact, it may offer some unforeseen benefits — even for the United States. In this Appendix to a Note on European gas supply diversification , Lord Howell writes that the UK fracking issue is being oversold and politically mishandled. Answering when and how these interests may manifest themselves in concerted foreign policy actions exercised by China or other littoral states in the region is a major analytical objective of Part I of this two part article series focused on the nexus between natural resources and potential military action in the South China Sea neighborhood.
While Asia has quickly become a major magnet of global oil demand, less noticed have been Asian efforts to develop regional oil hubs. This article explores the challenges and benefits to Asia of developing significant oil storage capacity and the complexities of launching benchmarks markers against which regional trading and price adjustments can be made. Such a request comes at a difficult time for all concerned. Tough and potentially costly decisions will have to be made in terms of directing America's natural gas to its best end-use.
Gal Luft points out there has been an absence of significant discussion about how America's shale gas revolution can benefit one of the US economy's most important sectors-transportation. A team of researchers lead by mathematician Dr. Natural gas pipelines, and moreover the networks they create, are expensive to build and even more so to operate if not utilized at or near capacity.
Therefore these researchers set about the task of calculating how in times of conflict or crisis European economies could weather a major disruption in gas supplies without adding new capacity. Recent and ongoing security breaches at companies operating critical energy infrastructure have everyone concerned. There is a long way to go towards harmonizing and regularizing network security protocols across industries as Dr. One of the least explored but increasingly important areas of critical energy infrastructure protection concerns offshore oil and gas installations.
The international regulatory framework provides a number of countervailing measures that can be used by states to protect offshore installations and respond to attacks and security incidents involving these installations. Mikhail Kashubsky who is with the Centre for Customs and Excise Studies in Australia explores the international regulatory aspects of offshore installations security in the second part of a three-part series for the Journal of Energy Security.
This complex endeavor ranges across a wide range of fields from battery technologies, electric vehicles, and improving the built environment for the solider just to mention a few working examples. This article discusses the role of the NATO Science and Technology Organization in leading this effort, what they are looking at today, in providing scientific and technological leadership for tomorrow. Within the next six months, Algeria will be facing its next round of presidential elections.
The stakes are high for incumbent President Abdelaziz Bouteflika and even higher for this hydrocarbon nation. Turkmenistan, lead by its ever eager President Berdymukhamedov, forged ahead in October with its plans to put itself at the center of the energy security debate in Central Asia. It first hosted a meeting with the OSCE in the capitol city Ashgabat as another step to put itself front and center on security discussions within a UN context. When energy forecasters talk about future energy production and prices, people listen, especially if the modelers come from or represent vaunted organizations such as the International Energy Agency or the US Energy Information Administration.
Militarizing oil interests and assets is not something that oil companies openly attest or subscribe to based on their interests in maintaining their public, reputational value.
The European Neighbourhood Policy. A Geostrategic Tool for European Energy Security?
However actions speak larger than words. The threat environment encompasses potential attacks from terrorists and other disgruntled groups to sabotage carried out by employees of oil and gas companies themselves. Mikhail Kashubsky who is with the Centre for Customs and Excise Studies in Australia explores the threat environment for these installations in the first past of a three-part series for the Journal of Energy Security.
The future of natural gas in Europe is a conundrum. While natural gas demand is soaring in the US and across Asia, demand has actually declined in Europe. Will a turn-away from natural gas dampen the EU's appetite for modernizing its critical energy infrastructure?
Is Europe turning to coal to displace gas in power generation and if so is the European Carbon Market actually contributing to this fuel switch? First time contributor to the Journal of Energy Security , Jozef Badida, examines Europe's gas future within this complex context.
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Nord Stream 2: Energy Security For Europe Or Prelude To Russian Aggression In The Baltic?
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