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European Union Energy Security Assignment
European Union Energy Security Essay
Bilateral fall-out between Russia and Ukraine over gas trade has tremendously jeopardized trade relationship between European Union and Russia. Russia has been the dominant energy supplier to EU; hence, the Ukraine crisis imposed a huge collateral damage to the EU by halting continuous gas supply to the region. The navel of EU policy towards Russia has sporadically been underpinned on energy talks (Buchan, 2014). The main purpose of the energy talks has been to put in place effective legal framework that would ensure there is consistent supply of gas, uranium, and coal from Russia to European countries as well as strengthening international joint ventures, which would leverage investment of EU energy firms in Russia (Buchan, 2014). However, gradually, this plan has deemed and there is little hope that it may materialize in the near future. Eventually, EU honchos have become instrumental in championing for a reduction of energy dependence, diversification of energy supply, maximizing its bargaining power as well as energy efficiency, and strengthening development of renewable energy. This paper provides an overview of how EU has been ambivalently struggling to achieve energy security goals after the Ukraine crisis in 2009.
Apart from the Ukraine crisis, the decision to look for alternative sources of energy was influenced by the fact that Russia entered into bilateral agreement with China to supply the later with gas over a long time span (Buchan, 2014). Additionally, Russia has been expunged from the informal G8 following its encroachment of Crimea. Eventually, it has been focusing on developing a new regional organization— Eurasian Union— that is made up of former Soviet States ((Buchan, 2014). Nevertheless, these latest developments do not implicitly mean that Russia intend to cease supplying energy products to the EU. This is because Russian companies like Gazprom have hugely invested in energy export facilities in Europe— in spite of generating “less tax revenue for the Russian government” via its European energy products exports compared to Russian energy export to European countries (Buchan, 2014). Neither does it mean discontinuation of EU energy companies from investing in Russia. The crux of the matter is; strengthening Russia-EU partnership as “single energy space” may be delusive and the future energy relation could be explicitly transactional— without guidance of policy framework.......................GET A PLAGIARISM FREE COPY