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Global energy governance from Russia`s perspective
Dr. Tatiana Mitrova
Tokyo, 17 May 2019
IEEJ：May 2019 © IEEJ2019
Global energy governance is in crises
No common respected “rules of the game”
Supply and demand disruptions
Growing role of non-economic factors (sanctions, boycotts)
Price volatility
Non-secured and unprotected investments
Unreliable transit
Climate agreement threatened
2
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Russia`s approach
Multi-polar
Variety of acceptable national energy policies
No single “global policemen”
Equal rights and equal responsibilities
Regional alliances and bilateral ties
No single “ideal model”
3
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Russian energy on the global map
4
In theworld
In theworld
In theworld
In theworld
Oil and gascondensateproductionMln tonnes
Russia`s share in 2018
Gasproduction
BCM
Coalproduction
Mln tonnes
Electricity generation
bln Kw-h
USARussiaKSACanadaIraq
USARussiaIranQatarCanada
ChinaIndiaUSAAustraliaIndonesiaRussia
ChinaUSAIndiaRussiaJapan
USARussiaIranQatarCanada
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Russia`s policy in respect to the US
Anti-Russian sanctions (financing, technologies, key projects)
Competition on the global oil market: tough game with OPEC+
Increasing competition between Russian gas and US LNG in Europe and Asia
Russia is trying to protect its positions 5
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Russia`s policy in respect to the China
6
Very cautious with the sanctions
Only investments in the projects with equity share
All energy cooperation is in stagnation since 2014
Russia is trying to secure investments without becoming over-dependent
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Russia`s policy in respect to the Middle East
Tactical alliance – not a strategic partnership
At the same time real competition on all markets
Good knowledge of the region and clever diplomatic game 7
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Russia`s policy in respect to Japan
Natural conditions for the partnership
Long history of negotiations and limited success of the real investments
Russia is waiting for a clear signal form the Japanese side8
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Conclusions
Global energy markets have entered a painful period of transition and transformation
There are no common respected “rules of the game”
Huge investments are required even to sustain fuel production in the long term
Multilateral actions are required in order to fix this situation
Russian external energy policy is strongly affected by the international isolation and sanctions
Russia is now competing in all its major markets with the US, trying to cooperate with the Middle East, cautiously negotiating with China and waiting for the actives signals from Japan
9
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Contact Information
10
Novaya st. 100, Skolkovo village, Odintsovsky District, Moscow Region, Russian Federation 143025
Phone:
Fax:
web:
+7 495 539 30 03
+7 495 994 46 68
http://energy.skolkovo.ru
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Contact :[email protected]
