16 May 2024
EU exposed: The shared cost of security of supply
Publication date: 01 May 2014
Gas Strategies Group
10 Saint Bride Street
London UK
EC4A 4AD
ISSN: 0964-8496
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Russia annexing Crimea, in what the international community called a breach of territorial integrity, has exposed the EU’s Achilles’ heel. As Russia strengthens its military presence at the borders of eastern Ukraine, Europe’s dependence on Russian gas weakens its ability to act decisively against geopolitical threats. And while the crisis has so far had no effect on deliveries of gas to Europe, the threat is very real. This scenario has brought energy diversification, a phrase often found at the back of EU politicians’ speeches, into the foreground. Gas Strategies asks what member states could do to accelerate projects of strategic interest, which would reduce their dependence on Russian gas, in the face of investor caution over pumping money into more long-term infrastructure projects in Europe.