EU/Russia Energy Inter-Dependence
November 18, 2006 4:54am CST
While the EU is struggling to put in place a common energy policy, Gazprom -- already a monopolist exporter of Russian gas -- is seeking to strengthen its position globally by, among other things, expanding into the European retail market. At the same time, Gazprom remains highly reluctant to allow foreign access to its own infrastructure. The EU’s instinct is to throw up protectionist barriers, amid concerns about Gazprom’s Kremlin links as well as old-fashioned economic nationalism. Europe needs gas; Gazprom needs markets. How will they work out their differences?