RCEM: Views on Energy News

Thanks to ESCP Europe's Research Centre for Energy Management's  wide network in the academic and business communities, our views on energy news give you comprehensive insight into energy issues. 

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As discussed in the recent international conference organised in Athens by the Research Centre for Energy Management at ESCP Europe Business School and the Greek Energy Forum, the European Union, through its 2030 Energy Targets, has provided with a blue print of its vision of the energy industry. It does so by defining its development and activities within the EU territories over the next 15 years, and beyond. 

Issues such as those of security of supply, energy efficiency, carbon emissions, renewables and many others are covered in different depths and levels of clarity within these Targets. Targets, whose importance has been highlighted by the recent geopolitical developments and the market dynamics of the energy industry. 

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The European Commission recently marked as a Project of Common Interest (PCI) the pipeline that will link the Greek and Cypriot deposits (East Med Pipeline), lifting the hopes of both Athens and Nicosia about the possibilities of seeing this project materialising. 

The project seeks the construction a pipeline connecting the Leviathan field offshore Israel, to Cyprus and the eastern part of the Island of Crete in Greece. In order to connect the supply of this pipeline to the EU market alternate routes were discussed, including connections from Crete to the Trans-Adriatic Pipeline (TAP), the Interconnector Greece-Bulgaria (IGB) and the Revythousa LNG terminal close to Athens.

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Risk, be it financial, political or military, is and has been inherent within the oil industries' activities. The oil majors have learnt this the hard way through numerous cases where they experienced these risks materialising, eliminating the value of their investments in the process. Nevertheless, as in most industries, the risks are justified by the benefits and in the case of big oil & gas, experience shows that the benefits are high. 

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