The changing map of energy security in Eurasia

Partner Meeting with Bosphorus Energy Club: The changing map of energy security in Eurasia: the impact of global level game-changers in the energy markets

5 May 2015, 6:45 - 8 PM CET

TUSIAD Avenue des Gaulois 13, Brussels 1040

In early 2015 the "big picture" of Eurasian energy security is looking more challenging than ever. The energy standoff between Russia and Europe has reached new heights, taking into account the continued impact of Western sanctions, the unresolved nature of the 50 billion YUKOS case, and the Commission's objections to Gazprom's alleged market dominance inside the EU. While Gulf oil producers appear quite relaxed about the lingeringly low oil price, other big producer countries — like Russia — are left to "sweat it out". Furthermore, it should be added that the risks of overlap between the political-military crisis in Ukraine with a crisis of European energy security remain prominent. Continued political and energy-related tensions between Russia and the West are resulting in diversification becoming the strategy of the day. Europe continues to put its hope in Southern Corridor gas projects, while Russia is seeking to strengthen its energy ties with China, Turkey, and other key sources of demand. Central Asian, Middle Eastern, and North African gas producers are looking for closer ties with premium price markets in Europe and Asia, but to a large extent remain hostage to prevailing geopolitical trends. In order to have a better grasp of how these developments are likely to pan out, we asked Mehmet Öğütçü to address the Brussels Energy Club. In particular, we asked Mehmet to map out the key "game changers" in the global energy markets — shale gas in the USA, the rise of China, India, and Brazil, the emergence of more flexible gas pricing in Europe — and inform us on how these are impacting on the energy security prospects of the key actors in the Eurasian energy markets. These include both state and corporate actors. Profound change is coming to European energy. Program:

Welcoming remarks by Dr Bahadir Kaleagasi, Chairman, Brussels Energy Club
Setting out the debate by Dr Marat Terterov, Executive Director, Brussels Energy Club
Presentation by Mehmet Öğütçü, President, Bosphorus Energy Club
Reflections and remarks by members and guests of the Brussels Energy Club, leading into Q/A session (NB: all discussions during the session will take place under the Chatham House Rule).
A light buffet will be incorporated into the interactive discussion

Speakers: