Russian and Caspian hydrocarbons: energy supply stakes for the European Union

Abstract

The crisis between Russia and Georgia in August 2008 highlights the fragility and instability of transporting gas from the Caspian and Central Asia to Europe via the "Caucasus transit corridor". The feasibility of one of the EU's possible strategies for diversifying its energy supplies might now be called into question. The aim of this article is to examine the new strategies that could emerge in the producing countries as well as those of international oil companies, and then look at what the consequences might be as far as the EU's diversification strategy is concerned.ENERGY SUPPLY ; HYDROCARBONS ; DIVERSIFICATION STRATEGY ; EUROPEAN UNION ; CASPIAN ; RUSSIA ; INTERNATIONAL MARKET