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In the old days, Gazprom strategy was first to contract with buyers and then to build the required infrastructure, regardless of any other risks that could materialise later. This gold plated strategy was acceptable in a world where natural gas demand was always growing and where Gazprom, the export monopoly for Russian pipe gas, was rich enough to bear all those costs. After the failed coup in Turkey, Gazprom is now in the process of reassessing all its pipes projects to figure out the best option for the company to export natural gas. The old assumption that Gazprom will always overinvest in transport capacity to guarantee security of supply to its clients could prove wrong in the future. Security of transport should not be borne only by the supplier. The good old days when European contractors where paid by Gazprom to lay pipes for the benefit of European consumers are over. And, in a new Russian world, where competitors (Rosneft, Novatek) are lobbying to access spare export capacity, this old strategy is becoming riskier as competitors could convince the State to amend the pipe gas export monopoly, allowing them to use this at the expenses of Gazprom…
After 20 years in the energy field, from the policy side to trading floors, Dr. Thierry Bros launched in 2011 the European gas and power research of Société Générale. He obtained a large recognition in the industry, notably accredited as best European gas analyst for four years in a row (2013-2016) thanks to the broad range of strategic issues covered. In 2016, he decided to start his own research & consulting company to provide independent advice, training & expertise on energy markets: thierrybros.com. Dr. Bros is a senior research fellow at the Oxford Institute for Energy Studies, a member of the EU-Russia Gas Advisory Council and an advisor for the World Energy Council - Global Gas Centre. He is also a senior energy expert at Energy Delta Institute, a visiting professor at SciencesPo Paris and an Advisory Board Member for the Research Center for Energy Management (ESCP Europe). Dr. Bros has a Master of chemical engineering from ESPCI ParisTech and a PhD from Ecole Centrale Paris.
Thierry Bros, Senior Research Fellow, Oxford Institute for Energy Studies; Visiting Professor, SciencesPo, Paris; Member, EU-Russia Gas Advisory Council; Advisor, World Energy Council - Global Gas Centre; Senior Energy Expert, Energy Delta Institute; Advisory Board Member, Research Center for Energy Management (ESCP Europe)
Sponsored by the Davis Center for Russian and Eurasian Studies.
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