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Energy security and Foreign Policy. Europe between WWII and the Beginning of the New Century Florence, 19 th March 2013 Matteo Verda Università degli Studi.

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Presentation on theme: "Energy security and Foreign Policy. Europe between WWII and the Beginning of the New Century Florence, 19 th March 2013 Matteo Verda Università degli Studi."— Presentation transcript:

1 Energy security and Foreign Policy. Europe between WWII and the Beginning of the New Century Florence, 19 th March 2013 Matteo Verda Università degli Studi di Pavia

2 Energy and Foreign Policy Energy security: reliable and affordable energy supply key: energy is a commodity (+ externalities) Energy Security Energy supply is a function of technology and availability of resources The relevance of geography is shaped by the technological perspective caveat: risk is usually interpreted against an implicit status quo scenario

3 Energy and Foreign Policy Risk is always related to a certain technology and it is always an issue of opportunity costs key: geography vs. technology Resources: an uneven distribution The key issue is that fossil fuels are unevenly distributed across the globe e.g. 56% of oil reserves and 75% of gas reserves are located in Middle East and Former Soviet Union Need of trade between different States, hence the origin of geopolitical risk

4 Energy and Foreign Policy Oil and gas are the most important elements of the Italian (80%) and European (60%) energy mixes key: oil is more liquid than gas Oil and gas markets Gas market is regional and more rigid: infrastructures influence the relationship between producers and costumers (long term) and the institutionalisation of the markets (segmentation, indexation) Oil market is global and liquid: cheap transportation, flexibility, market institutionalisation Gas market is changing (LNG, non-conventional, spot markets), but slowly

5 Energy and Foreign Policy EU dependence: 90% oil, 65% gas - Italy dependence: 90% oil, 90% gas Energy Consumption and Import Dependence Source: elaboration on BP, Statistical Review of World Energy 2012

6 Energy and Foreign Policy Import Dependence Source: elaboration on BP, Statistical Review of World Energy 2012

7 Energy and Foreign Policy Energy Mix - World and EU Source: elaboration on BP, Statistical Review of World Energy 2012 World (2011)European Union (2011)

8 Energy and Foreign Policy Energy Mix - France Source: elaboration on BP, Statistical Review of World Energy 2012

9 Energy and Foreign Policy Energy Mix Evolution - France Source: elaboration on BP, Statistical Review of World Energy 2012

10 Energy and Foreign Policy Energy Mix - Germany Source: elaboration on BP, Statistical Review of World Energy 2012

11 Energy and Foreign Policy Energy Mix Evolution - Germany Source: elaboration on BP, Statistical Review of World Energy 2012

12 Energy and Foreign Policy Energy Mix - United Kingdom Source: elaboration on BP, Statistical Review of World Energy 2012

13 Energy and Foreign Policy Energy Mix Evolution - United Kingdom Source: elaboration on BP, Statistical Review of World Energy 2012

14 Energy and Foreign Policy Energy Mix - Italy Source: elaboration on BP, Statistical Review of World Energy 2012

15 Energy and Foreign Policy Energy Mix Evolution - Italy Source: elaboration on BP, Statistical Review of World Energy 2012

16 Energy and Foreign Policy EU Natural Gas Supply Source: elaboration on BP, Statistical Review of World Energy 2012

17 Energy and Foreign Policy European Natural Gas Main Infrastructures © Matteo Verda

18 Energy and Foreign Policy Italian Natural Gas Main Infrastructures © Matteo Verda

19 Energy and Foreign Policy Italian Natural Gas Consumption Source: elaboration on BP, Statistical Review of World Energy 2012

20 Energy and Foreign Policy Matteo Verda, PhD blog: LinkedIn: Contacts Politica estera e sicurezza energetica. L’esperienza europea, il gas naturale e il ruolo della Russia Edizioni Epoké, 2012


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