IENE’s 5th Energy and Geopolitics Forum to be held on March 21, 2023, in Athens (Divani Caravel Hotel, 15:00 –20:00) will cover the major changes and upheaval which the war in Ukraine has brought about in the energy sector, as well as their impact on geopolitics. This forthcoming IENE event will gather, among its speakers, some of Greece’s most distinguished professionals in the energy field, as well as international relations and geopolitics experts, politicians and academics
IENE’s 5th Energy and Geopolitics Forum to be held on March 21, 2023, in Athens (Divani Caravel Hotel, 15:00 –20:00) will cover the major changes and upheaval which the war in Ukraine has brought about in the energy sector, as well as their impact on geopolitics. This forthcoming IENE event will gather, among its speakers, some of Greece’s most distinguished professionals in the energy field, as well as international relations and geopolitics experts, politicians and academics.
The sanctions imposed by the West upon Russia following the latter’s invasion of Ukraine and the consequent decision of the EU to decouple itself from Russian hydrocarbons have caused severe structural changes in the European energy market, among which is the emergence of LNG as a strategic fuel for Europe. Moreover, natural gas prices, which had already increased substantially since the summer 2021, skyrocketed, driving overall energy costs and thus inflation in Europe to heights not seen for decades. Faced with these difficult conditions, several European countries resorted to a wide range subsidies, which in total have cost 800 billion euros, worsening the fiscal landscape. At the same time, social upheaval and political shocks came to the fore, which have already led to the overthrow of several European governments, although the initial predictions were even more ominous.
These changes are not restricted to Europe but encompass the entire planet. Thus, there is a realignment of alliances and counter alignments, with the US pitted against China, which is aligned with Russia. As far as the latter is concerned, Western sanctions against it, the EU's attempt to distance itself from Russian gas and oil, but also extraordinary events, such as the explosion of the Nord Stream submarine gas pipelines in the North Sea, lead it to seek commercial outlets for its energy resources in other directions. These include not only China, but also markets in the rest of Asia and Africa, resulting to the transformation of the old East-West division into a confrontation between Global North and Global South, with Moscow attempting to affiliate the latter. Last but not least, the convergence of the OPEC countries, where Saudi Arabia stands out, with Russia, through the OPEC+ scheme, despite the effort to maintain balance with the countries of the West, is noteworthy.
The speakers of IENE’s 5th Energy and Geopolitics Forum will focus on the separate aspects of this emerging new landscape.
More specifically, the sessions of the event will cover the following subject areas:
· The New Energy Landscape in Europe: How Energy Security, Society, Economy and Geopolitics Are Affected
· The World After the War in Ukraine: West vs. Rest of the World?
· Europe-US Relations in Energy and Geopolitics: Complementarity or Dependence?
· Eastern Mediterranean’s Role as a Potential Energy Supplier and Geopolitical Challenges
