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Medium-Term Prospects for Russian Cooperation with European Countries in the Natural Gas Market

Author

Listed:
  • Larisa Shakhovskaya

    (Volgograd State Technical University, Russia)

  • Victoria Timonina

    (Volgograd State Technical University, Russia)

Abstract

The purpose of the article is to study the prospects of cooperation in the world energy market and assess the role of Russia in the market. The situation in the world energy gas market is constantly changing. This is due to the divergence in the results of the analysis of the resource base, the assessment of the potential for production, the cost of energy resources, as well as different views on the competitiveness of gas in world markets. Thus, the US, instead of plans to increase gas imports, is becoming its exporter, which fundamentally changes the balance of forces not only in the Atlantic basin market, but also in all world trade. Europe is changing its priorities for gas cooperation, as well as its focus on supporting expensive options for decarbonizing energy systems. Russia continues to expand its participation in the global liquefied natural gas market through the introduction of gas projects and new agreements. Thus, the modern world economy, at the stage of its globalization, when competition is replaced by sanctions policies, is minimizing the ever-increasing transaction costs forces countries to change their areas of cooperation in such a way as not just to minimize these costs, but to do so by gaining additional benefits. Keywords: Russia, Prospects, Turkish Stream, Nord Stream 2, Agreements, Development Journal: Eurasian Journal of Social Sciences

Suggested Citation

  • Larisa Shakhovskaya & Victoria Timonina, 2020. "Medium-Term Prospects for Russian Cooperation with European Countries in the Natural Gas Market," Eurasian Journal of Social Sciences, Eurasian Publications, vol. 8(2), pages 70-74.
    • Handle: RePEc:ejn:ejssjr:v:8:y:2020:i:2:p:70-74
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