Add i E ’ h ll Addressing Europe’s energy challenge: from...
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Dr Andreas Goldthau Professor CEU School of Public Policy Add i E ’ h ll Professor , CEU School of Public Policy Associate, Geopolitics of Energy Project, Harvard Kennedy School Addressing Europe’s energy challenge: from the EU regulatory state to the Energy Union Energy Union The Global Annual Energy Meeting ESADEgeo October 30 2015
Transcript of Add i E ’ h ll Addressing Europe’s energy challenge: from...
Dr Andreas GoldthauProfessor CEU School of Public Policy
Add i E ’ h ll
Professor, CEU School of Public PolicyAssociate, Geopolitics of Energy Project, Harvard Kennedy School
Addressing Europe’s energy challenge: from the EU regulatory state to the Energy UnionEnergy UnionThe Global Annual Energy Meeting ESADEgeo gOctober 30 2015
Europe faces a geopolitical challenge
Goldthau Oct 30 2015Source: OECD
Europe faces a transit challenge
Nordstream (55 bcm) + Nordstream II
UA: 50% of RF exports to EU (80 bcm)
Southstream/ Turkish
Goldthau Oct 30 2015
Stream (63 / 32 bcm)
Europe faces a pricing challenge
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Japan
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Average Germanimport
UK
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4.00
6.00UK
US
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2.00
2000
2001
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2013
Goldthau Oct 30 2015
Source: IEA 2014
The EU response: making markets and making them kwork
Goldthau Oct 30 2015
The EU response (I): focus on liberalizing and i t ti k t
Price formation mechanisms in Europe (2014)
integrating gas markets
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p ( )
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Hub
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50HubOil IndexRegulated
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Goldthau Oct 30 2015
0Europe North-West Central East Sout-East Mediterranean
Source: IGU 2014
The EU response (II): focus on energy infrastructure
■ 2008: ‘Southern Corridor’ officially endorsed by the European Commission as part of the Second Strategic Energy Review
■ 2009: European Energy Programme for Recovery (EEPR)■ 2009: European Energy Programme for Recovery (EEPR)
■ Regulation on guidelines for trans-European energy infrastructure (‘Infrastructure Regulation’)■ four ‘priority corridors’ (incl Southern Corridor)■ projects of common interest (PCI)■ Connecting Europe Facility (CEF)Co ect g u ope ac ty (C )
Goldthau Oct 30 2015Source: EU Commission
The EU response (III): competition law emerges a key t l i dd i t l l litool in addressing external monopoly suppliers
Goldthau Oct 30 2015
The EU response (IV): strategically export regulation
Goldthau Oct 30 2015
Energy Union: From market making to securitization?
Goldthau Oct 30 2015
Energy Union: From market making to securitization?
Goldthau Oct 30 2015
Energy Union: eventually giving the EU’s soft power a h d d ?hard edge?
■ Status quo ante: strategic use of regulation■ exemptions granted to EU-sponsored pipelines not Russia-
led ones■ targeted export of EU rules through Energy Community et al
(Ukraine!)
■ Energy Union: securitization of regulation■ Energy Union: securitization of regulation■ strong external dimension■ diplomacy becomes part of energy policy toolbox
■ Use of market size and might for political ends: from Regulatory Power Europe to Market Power Europe?
Goldthau Oct 30 2015
goldthau comgoldthau.com@goldthau
Goldthau Oct 30 2015
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