Diversification of Natural Gas Supply - Main Objective of EU Energy Union Project

Mariana Papatulica

Revista de Economie Mondiala / The Journal of Global Economics, 2015, vol. 7, issue 2

Abstract: The tense political context created by the conflict between Russia and Ukraine, and the security risks entailed to the transport routes from the Caspian Sea to Europe, represented an increasing threat to EU security of energy /gas supply . Dependence on a small number of suppliers, some of them dominant or uncertain, such as Russia, made EU vulnerable to "divisive" tactics and threats of blocking energy supply routes. More than half of the gas consumed in the EU comes from third countries and more than 1/3 from Russia. But Europe is well positioned geographically to benefit from the important changes looming in the coming years, in the changing configuration of gas flows worldwide. After the identification and extensive exploitation of shale gas in the United States, mankind faces a potential surplus of natural gas that needs, however, an adequate infrastructure to reach the consumers and erode market dominance of traditional exporters, headed by Russia.

Keywords: natural gas; energy security; diversification; infrastructure; energy geopolitcs (search for similar items in EconPapers)
JEL-codes: L95 O13 Q40 (search for similar items in EconPapers)
Date: 2015
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