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| Author: | Meulen, E.F. van der |
| Title: | Gas supply and EU-Russia relations |
| Journal: | Europe-Asia Studies
2009 : JUL, VOL. 61:5, p. 833-856 |
| Index terms: | energy policy european union russia supply and demand |
| Language: | eng |
| Abstract: | Using New Institutional Economics (NIE) theory, this paper argues that EU energy policy towards Russia damages security of supply because it neglects the specific aims and propensities of Russia and Gazprom. EU Commission initiatives are based on the promotion of interdependence through market opening. They are based on favouring a policy of competition over security of supply. Russia has chosen suboptimal state control of natural resources over the frontier capitalism of the 1990s. To Russia and to Gazprom, sustainability of the current rent based system and geopolitical considerations are essential. A pragmatic approach that aims at security of supply and security of demand seems to be more successful in this situation. Liberalisation of the market can only be a long-term goal in this approach. |
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