The revenue from Russia’s oil and gas exports tripled to nearly US$500 billion between 2001 and 2006 (photo: dpa)

Russian gas: Relations with the EU at a crossroads

The EU-Russian energy partnership, launched in 2000, is going through a period of fundamental change. While EU member states aim to integrate various national gas markets into a single liberalised gas market, the Kremlin appears to be sticking to traditional energy strategies, overlooking or unwilling to recognise the fundamental changes and geopolitical implications of the rapidly changing global gas market, particularly in Europe.

RUSSIA is not only the EU’s largest source of gas imports, but also the largest supplier of oil, oil refine products, such as diesel, and hard coal.

Both sides have benefitted from a sustainable str...

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Dr. Frank Umbach
Brussels’s view is that the Third Energy Package and the Commission’s anti-trust prosecution of energy companies are essential for opening up energy markets and de-monopolising European gas markets
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