Advertisement

Energy Security and Geopolitics in the Trans-Europe Space

  • Caterina Miriello
Chapter

Abstract

Energy constitutes a crucial matter for both the EU countries and the states in the European neighborhood. Notwithstanding the exceptional effort in decarbonizing and in fostering renewable energies, EU countries still depend on imports of hydrocarbons from extra-EU countries. This dependence has deep implications both in terms of security of supply for member states and in terms of price paid for energy by end consumers. Starting from an assessment of the drivers of demand, supply and prices, the chapter will examine the role of geopolitical issues in shaping the energy sector by considering two broad case studies: the relations of the EU with its main natural gas supplier, Russia, and with the world’s main oil suppliers, countries in the Middle East.

References

  1. ACER. 2011. Framework Guidelines on Gas Balancing in Transmission Systems. Published on 18 October.Google Scholar
  2. Creti, A., and B. Villeneuve. 2004. Long-Term Contracts and Take-Or-Pay Clauses in Natural Gas Markets. Energy Studies Review 13 (1): 1.CrossRefGoogle Scholar
  3. Crocker, K.J., and S.E. Masten. 1988. Mitigating Contractual Hazards: Unilateral Options and Contract Length. The Rand Journal of Economics 19 (3): 327–343.CrossRefGoogle Scholar
  4. Devarajan, S., and L. Mottaghi. 2015. Economic Implications of Lifting Sanctions on Iran. MENA Quarterly Economic Brief. Washington, DC: World Bank.CrossRefGoogle Scholar
  5. Eni. 2017. World Oil and Gas Review. Available Online at https://www.eni.com.
  6. European Commission. 2010. Energy 2020: A Strategy for Competitive, Sustainable and Secure Energy. Brussels: European Commission.Google Scholar
  7. European Union. 2009. Directive 2009/73/EC of the European Parliament and of the Council of 13 July 2009 Concerning Common Rules for the Internal Market in Natural Gas and Repealing Directive 2003/55/EC, L211. Official Journal of the European Union, 94–136.Google Scholar
  8. Henderson, J., and T. Mitrova. 2016. Energy Relations Between Russia and China: Playing Chess with the Dragon. Oxford: Oxford Institute for Energy Studies.CrossRefGoogle Scholar
  9. International Energy Agency (IEA). 2018. Monthly Prices Statistics (Data up to February 2018). Paris: IEA/OECD.Google Scholar
  10. Johnston, R., and E. Stromquist. 2014. The Russian Gas Sector: A Political Risk Case Study. Houston, Texas, USA: James A. Baker III Institute for Public Policy of Rice University.Google Scholar
  11. Joskow, P.L. 1985. Vertical Integration and Long-Term Contracts: The Case of Coal-Burning Electric Generating Plants. Journal of Law, Economics, and Organization 1 (1): 33–80.Google Scholar
  12. ———. 1987. Contract Duration and Relationship-Specific Investments: Empirical Evidence from Coal Markets. The American Economic Review 77 (1): 168–185.Google Scholar
  13. Miriello, C., and M. Polo. 2015. The Development of Gas Hubs in Europe. Energy Policy 84: 177–190.CrossRefGoogle Scholar
  14. Von Hirschhausen, C., and A. Neumann. 2008. Long-Term Contracts and Asset Specificity Revisited: An Empirical Analysis of Producer–Importer Relations in the Natural Gas Industry. Review of Industrial Organization 32 (2): 131–143.CrossRefGoogle Scholar
  15. Williamson, O.E. 1979. Transaction-Cost Economics: The Governance of Contractual Relations. Journal of Law and Economics 22 (2): 233–261.CrossRefGoogle Scholar

Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Caterina Miriello
    • 1
  1. 1.Italian Regulatory Authority for Energy, Networks and Environment (ARERA) & Centre for Energy and Environmental Economics and Policy (IEFE), Bocconi UniversityMilanItaly

Personalised recommendations