Milov Feb28 2007

The role of Russia in the European energy security: 

The role of Russia in the European energy security Vladimir Milov Institute of Energy Policy, Russia Hearings at the Foreign Affairs Committee of the European Parliament Brussels, February 28th, 2007

Russia and the European energy security: 

Russia and the European energy security

General shift in Russian Government’s policy agenda in 2000-2006: 

General shift in Russian Government’s policy agenda in 2000-2006

THE PRESENT ENVIRONMENT IS AN UNAVOIDABLE RESULT OF POLICY SHIFT IN RUSSIA THAT HAD HAPPENED SINCE 2003.UNLESS NEW DEMOCRATIC GOVERNMENT WILL BE IN PLACE IN RUSSIA, THE SITUATION IS NOT LIKELY TO CHANGE.: 

THE PRESENT ENVIRONMENT IS AN UNAVOIDABLE RESULT OF POLICY SHIFT IN RUSSIA THAT HAD HAPPENED SINCE 2003. UNLESS NEW DEMOCRATIC GOVERNMENT WILL BE IN PLACE IN RUSSIA, THE SITUATION IS NOT LIKELY TO CHANGE.

Possible restrictions for foreign investment in oil & gas sectors: 

Possible restrictions for foreign investment in oil & gas sectors Draft amendments to subsoil law preliminarily approved by Russian Government on January 31st, 2007, allow Government to establish a list of ‘strategic’ oil & gas fields, where foreign ownership has to be approved, and will be limited to no more than 50% minus one share Participation of state-owned foreign companies in ‘strategic’ oil & gas fields may be legally limited to no more than 25% minus one share But, Russian state owned energy companies wish to buy energy assets in Europe freely A strange vision of reciprocity?

Is Russia using national energy companies as a political tool?: 

Is Russia using national energy companies as a political tool? ‘GAZPROM IS THE KEY ELEMENT OF THE STATE’S ENERGY SECURITY SYSTEM. AND, NOT LESS IMPORTANT, POWERFUL LEVERAGE OF RUSSIA’S ECONOMIC AND POLITICAL INFLUENCE IN THE WORLD.’ Source: http://www.kremlin.ru/text/appears/2003/02/29774.shtml Vladimir Putin, President of Russia (Speech at the celebration of the 10th anniversary of Gazprom, February 14th, 2003, the Kremlin, Moscow)

Energy Charter Treaty?: 

Energy Charter Treaty? No chance that Russia will ratify Charter definitely needs to be modified The regional integration clause to the Transit Protocol (article 20 of the Protocol) had destroyed the pro-Charter lobby in Russia – it sets unequal conditions for EU and non-EU states A new international energy agreement may be a breakthrough Framework like ‘Energy Community Treaty’ is a more engaging and preferable format than the Charter

How much is Europe really dependent on Russian gas?: 

How much is Europe really dependent on Russian gas? Share of gas imports from Russia in primary energy consumption, 2005, % Source: BP Statistical Review of World Energy 2006 (primary energy consumption), Gazprom (gas imports by relevant countries)

Will Gazprom invest enough in new gas field development to address the supply challenge?: 

Will Gazprom invest enough in new gas field development to address the supply challenge? Structure of Gazprom’s investment program for 2007 (in billion US dollars of 2007) Source: Gazprom’s press release of January 16th, 2007