The proposed Nord Stream 2 pipeline could destabilise European energy cooperation and offer Gazprom excessive influence in Central and Eastern Europe. These disadvantages do not justify the commercial benefits for German companies.
This event is part of the joint Bruegel-IPC initiative European Neighbourhood Energy and Climate Dialogues.
Gazprom is pushing ahead with plans to build a second gas pipeline under the Baltic sea, straight form Russia to Germany. Supporters claim that Ukraine cannot be relied on as a transit partner, and that Europe will need more gas in the future. Georg Zachmann is unconvinced, and argues that the project should wait.
Is the EastMed pipeline really a feasible project? The answer to this question is not simple, but the EastMed plan sounds unconvincing.
Many countries in the MENA region are heavily dependent on oil and gas for exports and taxes. But global decarbonisation could undermine revenues, even though MENA exports are globally competitive. This threatens the MENA region's social contract, so economic diversification needs to start now.
The effort to define rules for international emissions trading faces the strong desire of nation states to develop their own climate policies, which collides with the need for tradable units in one country to be equivalent to tradable units in another country. To overcome this dilemma Georg Zachmann proposes a club of carbon-buying countries that would regulate only imported mitigation outcomes.
Earlier this week, the European Commission presented the draft compromise reached with Gazprom regarding the antitrust case launched in April. Simone Tagliapietra argues that Gazprom has no reason to break the commitments made in the draft compromise, since they are well-aligned with its own interests.
At this event, we brought together key-experts that studied the regulatory and economic aspects of Nord Stream II
This book provides a detailed overview of the current status and future prospects of Euro-Mediterranean energy relations through analysis of those relations and pertinent case studies.
Cooperation in the energy sector could increase economic prosperity and political stability in North Africa and also generate economic opportunities for Europe. We propose a European public fund that would reduce the political risk for private sector investors in low-carbon energy in North Africa.
Georg Zachmann argues that the Nord Stream 2 project is a danger to the European consensus on relations with Russia. What is more, it could undermine efforts to diversify Europe's gas supply and might risk higher prices for Eastern Europe.
Presentation at the EPP hearing on the “Winter Energy Package” on 29 June 2016.