Nord Stream na liberalizującym się rynku gazu UE
Nord Stream on the liberalising EU gas market

Author(s): Agata Loskot-Strachota, Łukasz Antas
Contributor(s): Katarzyna Kazimierska (Editor), Anna Łabuszewska (Editor), Ilona Duchnowicz (Translator)
Subject(s): Politics / Political Sciences, Politics, Economy, Supranational / Global Economy, Governance, Economic policy, Environmental and Energy policy, International relations/trade, Transport / Logistics
Published by: OSW Ośrodek Studiów Wschodnich im. Marka Karpia
Keywords: Nord Stream; gas export pipeline; gas transport; European Union; gas market; Russia; Gazprom; gas prices;
Summary/Abstract: Work on this paper was completed in January 2010. One of the key questions in our research regarding the new gas export pipeline linking Russia with EU concerns the role which Nord Stream will play in Gazprom’s strategy for Europe, considering the changing market conditions and the losses the company sustained in 2009. We proposed the thesis that Gazprom will try to use all available measures, including Nord Stream, to improve the price competitiveness of Russian gas and also to guarantee sales of this fossil fuel. We also assumed that the company may become ready at some point to gradually adjust to the conditions existing on an increasingly liberalised EU gas market. In February 2010, Gazprom decided to make a move unprecedented in its previous policy, which confirms the theses presented in this paper. The Russian company competing for its share in the European gas market, decided to temporarily adopt (as it claims) more flexible provisions on longterm contracts with its key European partners (ENI from Italy, E.ON from Ger ma ny, GdF from France) and Botas from Turkey. The main change is the link age of the price of part (10–15%) of the gas sold by Gazprom to gas prices on exchanges.

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