GEAB Summer 2024

The world of energy continues to reconfigure itself, with all the creaks and groaning notoriously associated with the quest for energy autarky/security by the major players, together with the diversification of both players and energies and the implementation of new networks of influence (e.g. Israel, having now secured its autarky, can use its surpluses to weave a web of interdependence via the Israel-Egypt gas pipeline…). It is mainly the restoration of the oil-gas balance that is creating new players and forcing new alliances, since the major gas producers are not the same as the major oil producers… and are located in the “other world” (Russia and Iran currently hold the two largest gas reserves in the world). The year 2019 ended with resounding failure for the United States which, in 2014, could hope to see Europe and Russia cut off from each other “thanks to” the Ukrainian crisis. Four years later, it’s no longer one gas pipeline but three that are supplying Europe with Russian gas. But the story is not over and the partial failure of the US strategy of creating transatlantic energy links could generate further fits in 2020.  (…)