Skip to 0 minutes and 15 secondsThe impacts of the US shale gas boom can already be felt in Europe, for example via the price drop of coal and increased possibilities to import LNG. Could this lead to the reduction in Russian exports to Europe? What are Russian strategies to maintain energy dominance in Europe in the face of potential US LNG exports? Could European countries extract their own shale gas resources, thereby reducing Russian imports?
Russia-EU energy relations
Russia is – and will remain – the EU’s major supplier for oil, natural gas and coal at least for the next decade.
Recent gas and oil contracts with China will gradually allow Russia to diversify its energy portfolio and decrease its dependency on the European market.
The sanctions will most likely reinforce this trend.
© Younkyoo Kim, Hanyang University