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Prospects of Third Legislative Package Implementation, Future of European Gas Market

Prospects of Third Legislative Package Implementation, Future of European Gas Market

The European Union remains Russia’s key gas market. Therefore, in Russia they take a close interest in any changes therein. European officials are extremely concerned with promoting growth in competition in the gas market, for which they suggest liberalising access to the gas transport infrastructure. Approved by the Council of the European Union on 13 July 2010, Directive 2009/73/EC (the so-called Third Legislative Package) will supersede the previous (eight-year-old) directive from as soon as 3 March 2011. The European Union member states must ensure that their laws comply with the Third Package requirements within one year thereof.

The new EU legislation, as contemplated by its authors, is intended to destroy vertically integrated monopolies in the transport and storage of gas. Three possible formats are determined for corporations to spin off the infrastructure: the sale of the system or its operator or the transfer of the system to an independent system operator for management.

At the same time, the Directive does not provide sufficient detail as to the mechanisms of regulating the gas market in the new conditions, the distribution of powers in the context of cross-border systems, and many other aspects that are vital to the normal operation of the system. Gas suppliers with Russia at the helm are expressing increasing concerns about the introduction of the Third Package and insist on additional consultations.

The new report of the National Energy Security Fund provides a detailed analysis of the following aspects:

  • The gist of the Directive, its potential, and risks

    • The first and second directives and the essential differences of the Third Package
    • The philosophy of changes in the EU gas market
    • Regulatory difficulties and threats to investment

  • Fight for running the European gas market

    • The European Commission’s course to a “united front” and common energy policy
    • Resistance of the larger countries and national companies
    • Aspects of retaining national energy sovereignty in the EU
    • Experiments on Poland and Lithuania

  • The future of the Gazprom business in Europe

    • Opportunities to counteract EU plans
    • Prospects of key current and potential suppliers joining forces with Russia, Algeria, and Qatar in the lead
    • Main lines of their resistance to EU plans

  • The current state of affairs in the EU gas market and future developments

    • Sources of gas supply to Europe
    • The level of dependence on import
    • Prospects for competition in the market

  • New EU Energy Strategy to 2020 and its differences from the earlier 20-20-20 one. An estimate of how realistic it is.

The contents of the report:

Introduction. Power over Energy 3
Chapter 1.European Gas Market: State of Affairs 4
1.1.Sources of Gas Supply to Europe, Individual States. Decline in Internal Production, Growth in Dependence on Import. Key Suppliers Broken Down by Countries 4
1.2.First, Second Directives 13
1.3.Largest Corporate Players in European Gas Markets 15
Chapter 2.Third Package: Directive & Life 18
2.1.New Gas Directive 19
2.2.Third Package & Major Corporations 25
2.3.Implementation of Third Package Provisions 28
Chapter 3.EU Energy Strategy, Gas Infrastructure Development Plans 31
3.1.Oettinger Strategy: Five Priorities 31
3.2.Infrastructure Plan 35
3.3.Project Funding 37
3.4.Council of the European Union: Wisdom of Solomon 39
Chapter 4.Russian Position, Forecast of Developments 41
4.1.Third Package Prospects for, Risks to Russia 41
4.2.Directive Potential for, Dangers to Europe 44
4.3.Compromise or Confrontation 46
4.4.Effect of External Factors 47
Date of issue March 23rd, 2011

If you are interested to obtain please contact » Elena Kim

Other issues:
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Special report:

Nord Stream 2 and Ukraine: Costs Should Decide
Shale Revolution: Myths and Realities
Liquefied Natural Gas Outlook: Expectations and Reality

Analytical series “The Fuel and Energy Complex of Russia”:

Outlook for Russian LNG Industry
Russian Energy and West One Year after Ukraine Conflict Began: Are There Connections Still?
Green Agenda in Russia during Bitter Conflict with West
After February 2022 the agenda was radically rewritten. Western companies began leaving Russia en masse, economic relations with the West were drastically reduced, and the Russian economy began to be pushed violently from the global economic space, hemmed in by sweeping sanctions. All that was, to put it mildly, not the best background for talking about ESG. Especially because tasks of survival and stability under unprecedented pressure became the priority in the economy. In late 2022, however, attempts to reanimate the ESG agenda already became obvious. The message is put across insistently that it is important to Russia regardless of the foreign policy situation. While earlier the “green pivot” was seen as an opportunity to attract Western investors and their technological solutions to Russia, now Keynesian reliance on domestic manufacture is discussed.
Oil and Gas Sector Regulation in 2022 and Prospects for 2023
Gazprom at the Forefront of Economic and Political Battles with Europe
Gazprom is being actively thrown out of the market. Its annual supplies to Europe have shrunk from the previous 150 billion to 65 billion cubic metres of gas. European officials assure that they have already learnt how to live without Russian gas, so they will bring its purchases down to but nominal values in 2023. Their main hope is liquefied natural gas. Today the EU must make a crucial decision: whether it has passed the point of no return in gas business with Russia and whether it is certain that its economy will endure without supplies of Russian pipeline gas. Or, on the contrary, Europe will realise after all that the gas balance will not be achieved and the payment for so headlong a rush for LNG will be disproportionate. Assessment of the potential volume of LNG that will appear on the market before the end of the current decade will be the most important factor for making the decision.

All reports for: 2015 , 14 , 13 , 12 , 11 , 10 , 09 , 08 , 07
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