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EU Gas Supply Security: Unfinished Business

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  • Pierre Noël

Abstract

Four years after the gas supply crisis of January 2009, this paper looks at the market and policy changes that have changed the European gas situation, and their implications in terms of security of supply. Several positive developments are identified, including the byapssing of Ukraine by Gazprom-sponsored pipelines; the acceleration of import diversification in large markets of western Europe; the process of ‘commoditisation’ of natural gas in north-west Europe. The lack of meaningful progress in market integration between western and eastern-central Europe, however, leaves in place one of the main factors that made the 2009 crisis possible and conferred it its political significance. Overall, the European gas security situation has evolved in a positive direction mainly because of external forces, not EU policies.

Suggested Citation

  • Pierre Noël, 2013. "EU Gas Supply Security: Unfinished Business," Cambridge Working Papers in Economics 1312, Faculty of Economics, University of Cambridge.
    • Handle: RePEc:cam:camdae:1312
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    File URL: http://www.econ.cam.ac.uk/research-files/repec/cam/pdf/cwpe1312.pdf
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    Cited by:

    1. Peter Buhanist, 2015. "Path Dependency in the Energy Industry: The Case of Long-term Oil-indexed Gas Import Contracts in Continental Europe," International Journal of Energy Economics and Policy, Econjournals, vol. 5(4), pages 934-948.

    More about this item

    Keywords

    Natural Gas; European Union; Public Policy; Security of Supply.;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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