Publication

The proceedings opened by the European Commission against Russia's gas giant Gazprom for allegedly violating EU competition rules are likely to have a considerable impact on the future of EU-Russia relations. There are widespread concerns that the probe will contribute to consolidating Russia's apparent zero-sum game approach to foreign policy, thus risking to undermine its long-established energy relationship with the EU. The paper argues that while involving risks, the Commission's inquiry also presents itself as a unique opportunity to reorganize Gazprom's business structure in Europe and eventually help both Gazprom and EU buyers to adapt to a rapidly changing global gas market.