The global energy agenda has noticeably changed following the catastrophe at Fukushima. The 2011 event spurred several countries, such as France, to reduce their nuclear power programs ­ or to eventually shut them down altogether, like it was decided in Germany. These developments mean that Russia, with has both vast natural resources and major nuclear energy expertise, is going to continue to expand its role in the energy market both in Europe and beyond.

"The dominating context [right now] is [life in a] post-Fukushima world," Ilya Platonov, head of the Nuclear.ru portal, told The Moscow News.

Platonov believes that more than a year following the disaster, Fukishima keeps affecting the global energy agenda. "Germany has already decided to shut down its nuclear plants by 2022, while France, where nuclear energy dependence is at 80 percent, is considering restructuring this ratio," he said.

Platonov pointed out that Russia ultimately has a lot of expertise to share with the global nuclear industry, which is both trying to achieve better safety standards and to avoid the shutdown of all nuclear power plants, which are in peril in Europe. "As the result of the parliamentary elections in France, we may see a pact with [France's Green Party] to further change the energy balance ­ and not in favor of nuclear energy," he said.

This agenda will be a driving issue in the nuclear energy sector, where Russia may yet have a central role to play. "After Chernobyl, Russia has put in a lot of effort to achieve security and promote supranational safety organizations," Platonov said.

These developments in the nuclear sector are coupled with the fact that all over the world, demand for fossil energy resources may increase by as much as 25 percent in the coming decades, due to increasing energy consumption in fast-growing Asian economies.

Alexander Pasechnik, head of analytics with the National Energy Security Foundation, said that the importance of Russia's natural gas will grow as a substitution for the reduction of the role of nuclear power in Europe on the one hand and growing demand in Asia on the other. "The nuclear energy substitution will drive the demand [for gas] and talks about third or fourth gas pipelines to Europe by the northern corridor aren't just words," he said.

According to different scenarios, demand for fossil energy should grow within the range of 1 to 1.5 percent annually, and more than half of this demand will originate from China and India.

Pasechnik also pointed out that Russia's mission as gas supplier is challenged in Europe by what he called an "anti-Gazporm mood," which, he said, is political in essence. Both in Europe and in China, Gazprom is still striving to reach a final agreement on the formula of gas pricing.

"While there has been no principal agreement reached between Gazprom and China, the diversification trend was demonstrated [by Gazprom]," Pasechnik said.

On the European markets, Russia will also be pressured by the green economy trend popularized by several European countries, with Denmark as the main champion of environmentally-friendly policies. The Danish government has declared that its goal is to be fully independent from fossil fuel energy by 2015, and will be focusing on innovations in alternative energy.

Anatoly Vyazemsky, an analyst with Neftegaz.ru, said that Russian energy industry is also going to heed managerial issues, such as need to achieve a balance of power between Medvedev's cabinet and Putin's energy block ministers. According to Vyazemsky, contradictions in the Russian government's approach to the energy sector are also noticeable at this time, especially when it comes to deciding on industry consolidation.

"[Natalya Komarova, governor of the Khanty-Mansiisk autonomous district] has, for example, recently proposed an idea to create an all-Russia service company, based on service assets of state companies Gazprom, Rosneft and Rosneftegaz, but this proposal was later turned down by the Ministry of Economic Development," Vyazemsky said. "As the analysts say, all interested parties need to know if the Russian energy industry is consolidating ­ or if an opposite process is taking place."

Keywords: Russia, Business, Economy - Russia, Oil, Gas, Nuclear, Energy - Russian News - Russia

The global energy agenda has noticeably changed following the catastrophe at Fukushima. The 2011 event spurred several countries, such as France, to reduce their nuclear power programs ­ or to eventually shut them down altogether, like it was decided in Germany. These developments mean that Russia, with has both vast natural resources and major nuclear energy expertise, is going to continue to expand its role in the energy market both in Europe and beyond.

"The dominating context [right now] is [life in a] post-Fukushima world," Ilya Platonov, head of the Nuclear.ru portal, told The Moscow News.

Platonov believes that more than a year following the disaster, Fukishima keeps affecting the global energy agenda. "Germany has already decided to shut down its nuclear plants by 2022, while France, where nuclear energy dependence is at 80 percent, is considering restructuring this ratio," he said.

Platonov pointed out that Russia ultimately has a lot of expertise to share with the global nuclear industry, which is both trying to achieve better safety standards and to avoid the shutdown of all nuclear power plants, which are in peril in Europe. "As the result of the parliamentary elections in France, we may see a pact with [France's Green Party] to further change the energy balance ­ and not in favor of nuclear energy," he said.

This agenda will be a driving issue in the nuclear energy sector, where Russia may yet have a central role to play. "After Chernobyl, Russia has put in a lot of effort to achieve security and promote supranational safety organizations," Platonov said.

These developments in the nuclear sector are coupled with the fact that all over the world, demand for fossil energy resources may increase by as much as 25 percent in the coming decades, due to increasing energy consumption in fast-growing Asian economies.

Alexander Pasechnik, head of analytics with the National Energy Security Foundation, said that the importance of Russia's natural gas will grow as a substitution for the reduction of the role of nuclear power in Europe on the one hand and growing demand in Asia on the other. "The nuclear energy substitution will drive the demand [for gas] and talks about third or fourth gas pipelines to Europe by the northern corridor aren't just words," he said.

According to different scenarios, demand for fossil energy should grow within the range of 1 to 1.5 percent annually, and more than half of this demand will originate from China and India.

Pasechnik also pointed out that Russia's mission as gas supplier is challenged in Europe by what he called an "anti-Gazporm mood," which, he said, is political in essence. Both in Europe and in China, Gazprom is still striving to reach a final agreement on the formula of gas pricing.

"While there has been no principal agreement reached between Gazprom and China, the diversification trend was demonstrated [by Gazprom]," Pasechnik said.

On the European markets, Russia will also be pressured by the green economy trend popularized by several European countries, with Denmark as the main champion of environmentally-friendly policies. The Danish government has declared that its goal is to be fully independent from fossil fuel energy by 2015, and will be focusing on innovations in alternative energy.

Anatoly Vyazemsky, an analyst with Neftegaz.ru, said that Russian energy industry is also going to heed managerial issues, such as need to achieve a balance of power between Medvedev's cabinet and Putin's energy block ministers. According to Vyazemsky, contradictions in the Russian government's approach to the energy sector are also noticeable at this time, especially when it comes to deciding on industry consolidation.

"[Natalya Komarova, governor of the Khanty-Mansiisk autonomous district] has, for example, recently proposed an idea to create an all-Russia service company, based on service assets of state companies Gazprom, Rosneft and Rosneftegaz, but this proposal was later turned down by the Ministry of Economic Development," Vyazemsky said. "As the analysts say, all interested parties need to know if the Russian energy industry is consolidating ­ or if an opposite process is taking place."