CONFERENCE REPORT. Russia in Changing Global Markets: New Challenges and Opportunities
Irina Mironova, Michael Roh
On October 2-3, the International Energy Center of the European University at Saint Petersburg held an International Summit “Russia in Changing Global Markets: New Challenges and Opportunities”. This report presents the main statements from the conference’s experts divided into three categories: Russia’s energy future, the impact of sanctions, and Asian energy.
Key words: еnergy, natural gas, oil, Russia, Asia, ESPO, Power of Siberia, sanctions, energy policy, LNG, energy exports
ANALYSIS. Rethinking the Role of Gasification and Electrification in ASEAN Energy Security Initiatives
This article discusses the complexities of trying to apply natural gas trading hub models to developing countries and regions. The challenges of implementing a regional gas strategy amongst the ASEAN members regarding the Trans-ASEAN Gas Pipeline are reviewed, and alternative energy cooperation models are presented. Specifically, the article addresses the opportunities for cross-border electrification programs through a variety of mechanisms including the development of more renewable sources. It is argued that efforts to create a regional natural gas infrastructure in ASEAN are short-sighted, and that regional coordination should be forward looking such as providing an infrastructure that can support a shift in primary fuel consumption toward RES.
Key words: natural gas, electrification, energy poverty, ASEAN, salt domes, underground natural gas storage, gas hubs, LNG, renewable energy, TAGP
VIEWPOINT. IMF Distorts Energy Subsidy Facts to Vilify the Fossil Fuel Sector
In early 2015, the International Monetary Fund published a study claiming that over 5 trillion USD a year of subsidies were being paid in energy subsidies. This article is a critique of those claims and shows how the study misrepresents the term “subsidies” by assigning market externalities to the “indirect subsidies” category. In so doing, the IMF distorted the real subsidy numbers and paints a picture that these indirect subsidies are being paid by governments although they are largely not paid by anyone. This article breaks down the definitions of subsidies, indirect subsidies, and externalities in order to help the reader grasp energy subsidies with more clarity.
Key words: energy, subsidies, IMF, gas, oil, externalities, renewables, Pigouvian taxes, energy policy
ANALYSIS. South Caucasian Factor In Russia’s Security of Gas Demand
The article analyses the current situation and possible changes along the supply chain from South Caucasus toward South Eastern Europe. This area is interesting because of its role in transit avoidance within Russian gas export strategy. The second reason to pay closer attention to this region is the potential of formation of a gas-trading hub and implications for Russia’s export strategy. Finally, the role of South Caucasus supply and Turkey transit in Europe’s attempts to diversify its supply sources are also closely connected to the developments in SEE sub-regional gas market. The analysis demonstrates that currently, South Caucasus and Azerbaijan in particular is not a strong competitor to Russia, but it might well become one and take some of Russia’s share in the European gas market.
Key words: oil and natural gas markets, Russian gas supplies, Azeri gas supplies, Shah Deniz, European natural gas market, Caucasus energy hub, South Caucasus, Turkish gas market, energy policy
WORKSHOP REVIEW. ENERPO Workshop Series: Maxim Titov on Russia’s Energy Efficiency
This article is a review of a presentation given by Maxim Titov from the International Finance Corporation of the World Bank. The presentation was given at the European University at Saint Petersburg and was attended by students, faculty and administrators. The article details many of the subjects, strategies, and effects that the World Bank’s energy efficiency program has experienced in the Russian Federation over the past 10-15 years. Many of the key topics addressed by Mr. Titov helped clarify some of the myths regarding energy efficiency and the processes in bringing options to Russian businesses.
Key words: energy efficiency, energy policy, World Bank, energy intensity, energy finance, banking products, electricity, gas, fossil fuels