European Energy Security: Reducing Volatility of Ukraine-Russia Natural Gas Pricing Disput

Key Points

As Russia positions itself for a long-sought Gazprom takeover of Ukrainian infrastructure, the European Union must consider a serious investment in Ukraine to prevent complete Russian control over its energy security.
Despite recent agreements between Russia and Ukraine over natural gas pricing, the fundamental issues that caused the shutoff of gas to Europe in 2009 remain largely unresolved, and a future shutoff remains a strong possibility.
Proposed alternative pipelines will not alter the key role Ukraine plays in European access to Russian gas, and independent reforms of its energy sector are unlikely to succeed without foreign investment.

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