The Importance of Energy Security in the Relations of the European Union and Russia

Jović-Lazić, Ana and Nikolić, Marko (2013) The Importance of Energy Security in the Relations of the European Union and Russia. In: Energy security of Europe: The Position of Serbia. Institute of International Politics and Economics, Belgrade, pp. 64-82. ISBN 978-86-7067-176-8

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Abstract

Due to the growing needs of the European Union for energy on one hand, and the energy potential of Russia on the other, the issue of energy security is to be one of the most important in relations between the two parties. The European Union is trying to ensure regular supply, and the interest of Russia is to preserve markets in which it can sell energy. Regardless of the interdependence of the EU and Russia in the field of energy, the two sides differently understand energy security and reciprocal market access. Trying to secure a stable energy supply, the European Union asks from Russia to open its energy sector for European investors. On the other hand, Russia has been expecting from the Union to give Russian companies more opportunities to invest in a distribution network of oil and gas in Europe. However, despite numerous challenges and disagreements, prospects for closer EU-Russia cooperation in the field of energy are pretty good.

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