Prospects For Energy Cooperation Between The European Union And The Russian Federation

For several decades the European Union and Russia have been key partners in the energy sector. Russia ensures the supply of natural gas, oil and oil products, coal, electricity, nuclear fuel to the countries of the European region. In order to ensure sustainable deliveries, the developed energy infrastructure and harmonized technical regulations have been created on the continent, also mechanisms for conducting trade operations have been implemented. Energy companies from both Russia and the European Union have a longstanding cooperation experience including cooperation within the framework of joint projects. Despite the political controversies deliveries of energy resources from Russia to the EU show steady annual growth. The purpose of the article is to analyze current obstacles in the European and the Russian energy cooperation, to construct the Scenario tree of Russian gas supplies to EU as well as to elaborate on a number of suggestions concerning sensitive issues of energy dialogue between the EU and Russia based on compromises and balance of interests of both sides.