How is Russia Adapting to a Threatening New Energy World? Actuelles de l'Ifri, July 2013
The US shale gas revolution has shaken global gas markets. The US is on the eve of becoming self-sufficient in natural gas (and oil), thanks to the massive discoveries of unconventional resources on their territory, while being able to export part of their production. These developments have been closely watched by traditional oil and gas producers.
The sharpening of competitive pressure on global gas markets is indeed shaking their positions. A range of reactions has been observed among producing countries: exploration and production contracts were revised in order to ease foreign direct investments and to attract new technologies developed by the majors; some concessions were made towards consumers with new gas contracts" pricing formula - the touchiest issue -; massive investments were made in LNG and upstream projects. What about Russia, the largest natural gas reserves holder, and the largest natural gas producer and exporter? Has it been too slow to react, as often underlined by many commentators? (Dowload the pdf to read the Full Text).