The Changing European Gas Market and the Export Strategy of the Russian Federation

Russian authorities have for years been proclaiming that in order to ensure energy security and to increase their economic presence in North-East Asia their priority is to diversify gas export and to increase cooperation with the Asia-Pacific region. Despite frequent meetings at interstate and business levels, and numerous formal – but no binding – agreements, no tangible progress in this regard has yet been made. This paper argues, from a game-theoretic perspective, that peril for Russian geopolitical and economic interests ensuing from both inception of EU energy policy and evolution of the European gas market has been one of the factors hindering Russian plans of eastbound gas export diversification.

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