Cumhuriyet Üniversitesi Fen-Edebiyat Fakültesi Sosyal Bilimler Dergisi

Abstract

Until Brussels’s new proposals, EU energy policy has focused on promotion of competition at both national and Union levels, disregarding privatization. Allowing foreign firms to participate within the sector without seeking “Reciprocity Clause” caused an unfair competition, and thus, has led many member states to create own energy champions. Brussels aims to abate this by requiring all firms to go for vertical disintegration. In this way, EU firms are expected to achieve energy security by holding shares particularly in Russian firms, and thus avoid any similar energy shocks recently experienced by Ukraine and Belarusia. Nonetheless, the success of this proposal will largely be depending upon the will of abandoning energy nationalism in Germany, France and Russia. Russia is not enthusiastic. The recent rejection of full ownership unbundling by the European Parliament shows that the EU front is not keen for this either.