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Europe & Russia - Essay Example

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This essay stresses that modern economies are largely energy dependent, and any threat to energy supply is likely to engender serious concerns regarding the overall security of the economies. Europe’s natural gas consumption continues to rise while the domestic natural gas production decline. …
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Europe & Russia
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Download file to see previous pages From this paper it is clear that  Europe’s natural gas consumption continues to rise while the domestic natural gas production decline. If trends persist as projected, Europe’s dependence on Russia and large supplier of gas is likely to grow. Europe, as a whole, is a significant importer of natural gas, with Russia being one of Europe’s most powerful natural gas suppliers. Russia has been active in safeguarding its European gas market share through the state-controlled company, Gazprom, which has pursued to stymie European-backed alternatives to pipelines it controls by suggesting competing pipeline projects and availing European companies stakes within those projects. Moreover, the entity has endeavoured to dissuade possible suppliers (especially those within Central Asia) from participating in European-supported plans. Moreover, the dominant companies have raised their environmental concerns in an effort to impede other alternatives to its supplies, such as untraditional natural gas. This has made some European countries feel vulnerable to possible Russian energy supply manipulation that may frustrate diversification. Energy security takes diverse forms and can be guaranteed by diverse mechanisms that can take the form of both regulatory and market-based.  ...Download file to see next pagesRead More
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