Russian gas to Europe: politics, markets, regulation and on whether Nord Stream 2 is good for EU energy security
25 October 2017, 4 - 8 PM CET
TUSIAD Avenue des Gaulois 13, Brussels 1040
Will we ever put to bed debates about dependence on Russian gas supplies to Europe? If the debate currently raging in Brussel about the Russia-driven Nord Stream 2 gas pipeline is anything to go by, it seems that we are only just warming up. The side of the House supporting the motion that This House does not want greater dependence on Russian gas supplies has been telling us that Nord Stream 2 does not fit into the Energy Union strategy of diversification of the source of supply and that it does not comply with European law. The other side of the House, which opposes the motion, argues that more Russian gas will, to the contrary, sure up European energy security by replacing existing gas volumes in north-western Europe which are currently being depleted. It adds that Nord Stream 2 will help drive down the price of gas in Europe by increasing market liquidity and creating new scope for trading greater gas volumes on the European gas hubs.
The debate contains elements of markets, politics and regulation. Both sides of the House appear to have valid arguments supporting their respective positions, in which they are seemingly becoming more entrenched. Further, the debate becomes yet more interesting — and for that matter more complex — when the prospect of US LNG and well as Ukraine gas transit capacity is brought into the picture.
Yet despite the debate, the key question about dependence on Russian gas in general and additional volumes to be delivered through Nord Stream 2 in particular remains: will the project go ahead? Or will NordStream 2 bite the bullet in the same manner as its Black Sea counterparts, South Stream and NABUCCO? The question of whether Nord Stream 2 will go ahead remains very much open to discussion, to which we need some answers as we seek to construct a competitive energy market in all of Europe and for all Europeans.
In this BREC session on October 25 we took a step closer towards answering this very vexing question, as well as what promises to be the penultimate debate on Russian gas and on whether Nord Stream 2 is good for EU energy security.
Program October 25, 2017: 16.00 — 20.00:
Setting out the debate by Dr Marat Terterov, Initiator and Founder, Brussels Energy Club,
Presentation by Sebastian Sass
Presentation by Annette Berkhahn Blyhammar
Presentation by Harald Hecking
Presentation by Jean-Arnold Vinois
Roundtable discussion with meeting participants (NB: the Chatham House Rule will apply).
Our traditional networking reception with gala buffet will follow the main discussions
Nord Stream 2 AG
Senior Adviser, Arthur D Little
Co-managing director, ewi ER&S
Energy Adviser to the Jacques Delors Institute