Russia’s Gas Exports to Europe: New Challenges and Opportunities
Friday, February 3rd, 14:30-16:00
In bid to overcome lack of competition and inflexible gas pricing, the European Commission is implementing the Third Energy Package that targets restructuring of the wholesale gas market. What does it mean for Russian gas exports, how does Russia fit into the new realities of the European gas policy and is a gas compromise between East and West feasible?
Europe: Promotion of competition, lower gas prices and supply diversification versus reality of decline in domestic gas production, higher costs of renewable energy sources and a gradual phase out of nuclear capacity.
Russia: Increase in European market share and preservation of oil-linked long term gas contracts versus reality of sluggish demand, gas market liberalization in Europe, looming new supply from independent producers and rising Gazprom productive capacity.