In an era of increased concerns about security of supply, the current policy-making and regulatory arrangements require examination. In particular, there are concerns about whether or not markets can deliver sufficient and timely price signals to ensure adequate investment.
The UK gas market increasingly relies on internationally traded gas. The British market’s integration into the European gas system is deepening, and long-distance imports of liquefied natural gas (LNG) are growing. Coupled with the continuing reliance on the international oil market for liquid fuel supply, the growing gas dependence is fuelling concerns about UK and European exposure to international energy security risks, as well as the foreign policy implications of energy import relationships.
Our research explores the policy options available to retain the benefits of liberalised energy markets and international energy trade without compromising energy security and foreign policy objectives.
- Exposure to international energy security risks due to growing reliance on the international oil and internationalising gas market
- Foreign policy implications of energy import relationships
- Interplay between the national, European and international dimensions of energy security