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Energy and Sustainability in the European Region: The Russian Factor
Abstract
This chapter examines European energy security in the EU-Russian context. Europe is extremely dependent on Russian energy imports. This dependency requires sustainable energy solutions. Russian economy is characterized by high energy consumption and intensity. Russian energy sector needs massive investments, technological and management improvements. They become problematic due to the nation's poor investment climate, stagnating economy, and isolationist foreign policy. These, along with Russia's emerging reorientation of its energy exports toward Asia tend to worsen European energy security. The chapter explores trends in the global energy and analyses the dynamics and outlook for sustainable energy security in Europe in the context of import dependency in energy. It looks at the drivers, constrains and trends in the Russian energy sector in the Eurasian regional context. Despite technological advances, policies toward sustainable development and renewable energy, in the next two decades Europe will predominantly depend on fossil fuels and Russian energy imports.
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