Hurriyet Daily News: More Collaborative Thinking Needed on European Gas Markets

There is a Chinese character that equates crisis with opportunity. We face such a situation as the energy market turbulence, created by the oil price collapse, declining investments and geopolitical tensions, is in full swing. The process of adjustment in the energy market is far from over.

The European Union’s political leaders and mandarins in Brussels have grasped the opportunity to move forward with a series of new initiatives including the Energy Union. Some observers have described these as merely a consolidation of existing initiatives under a new umbrella. Others see in them a bold new effort to adapt Europe to the changing dynamics of world energy in the 21st century. 

The Energy Union, despite the focus on security of gas supply, reflects to some extent the approach of the German Energiewende, with its commitment to move away from “outdated business models” toward community-based energy supply. That model has been largely bad news for gas.

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