The Coming of the Russian Gas Deficit: Consequences and Solutions
Article from: OGEL 2 (2007), in Geopolitics of Energy
Introduction
This paper argues that the January 2006 gas cut off in the Ukraine encouraged EU policymakers and the media to focus on the wrong Russian gas issue. The core issue for the EU is not the threat of a politically motivated gas cut off. Rather it is the prospect of Russia, through lack of investment, not being able to produce enough gas to cover Russian and EU demands. The paper considers the extent of the likely gas deficit and determines that if no action is taken by 2010 the EU may be facing a deficit close to or even beyond its current Russian gas import level. The damaging ...