GPPi and Brookings host transatlantic dialogue on energy governance in Washington

From October 21 – 22, GPPi and Brookings hosted a conference titled Transatlantic Energy Strategies and Resource Nationalism: The New European Energy Landscape. Held in Washington, D.C., the conference was part of the Transatlantic Energy Governance Dialogues, organized jointly by GPPi and Brookings to promote the transatlantic strategy debate on energy governance. The October event, which included approximately 50 participants, was co-sponsored by the Energy Security Initiative at Brookings and the Czech Embassy.

During the conference, energy experts and officials from both sides of the Atlantic discussed key issues regarding security of oil and gas supply, resource nationalism and the impact of shale gas on European energy markets. GPPi Fellow Andreas Goldthau spoke on a panel titled Security of Supply: Russian Energy Policy and Pipeline Politics. Joining Goldthau was Mirek Topolánek, former prime minister of the Czech Republic, and Steve Levine, contributing editor at Foreign Policy magazine. Moderating the panel was Fiona Hill, director of the Center on the United States and Europe at Brookings.

In his presentation, Goldthau focused on key energy challenges facing Russia, including lagging investment, the impact of the financial crisis and the prevalent buyers’ market in natural gas in Europe. He concluded that Russian investment strategies and energy policies might become more risk averse and prudent, putting into question necessary investment and hence long term supply. Goldthau stressed that this may have ramifications for European energy security, as the continent will continue to rely on Russian exports to satisfy demand – despite an ongoing ​“shale gas revolution” in the U.S. and possibly in Europe.