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Gazprom’s evolving strategy in a new commercial and political context: how should the EU react? 27 avril 2015

Posted by Acturca in Energy / Energie, EU / UE, Russia / Russie, Turkey / Turquie.
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Policy Brief (European Policy Centre) 27 April 2015

Marco Giuli *

Gazprom is no longer the unchallenged Russian gas behemoth it once was; troubles with the European Commission over its alleged abuse of its dominant market position and non-compliance with the EU regulatory framework, rising political tensions and new trends in the broader energy and gas markets have forced the company to make some adjustments to its traditionally politically inspired strategy. In this Policy Brief, Marco Giuli attempts to frame the erosion of Gazprom’s power in a wider perspective, analysing its peculiar position at a time of transition, with the global gas business going from a sellers’ to a buyers’ market, and providing recommendations on how Europe should deal with it. He argues that Gazprom – despite still being affected by the Kremlin’s political priorities – is moving towards more commercially sound behavior, and that the EU should take advantage from this evolution by using the political momentum provided by the energy union to remove barriers to solidarity and increase competition.

* Marco Giuli is Policy Analyst in the Energy Programme at the European Policy Centre (EPC).

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