Bloomberg Business: "The hopes for European shale gas are not justified"

By Vestnik Kavkaza

The independent media resource  EUREPORTER writes today that the EU needs additional funds in terms of confrontation with Russia. Because of the sanctions imposed last year against Russia, the EU countries have to refrain from cooperation with Russia, and for a long time. Europe accuses Russia of imposing a trade embargo on the Community, forgetting that the measure was a response to the economic constraints on the part of Europe itself. The hasty decision in relation to Moscow brought more problems for the EU, because in this way the strategic partnership of the former allies was nullified.

Russia has now adopted a position of non-confrontation, but at the same time continues to look for new allies and partners, including countries outside the European Union. And what will Europe do? Europe needs the means to overcome the consequences of the break in relations with Russia. The tactics of the EU member states are to maintain their collective solidarity and continuing refraining from engaging in bilateral relations and agreements with Russia. In addition, some countries with defense cooperation with Moscow sharply criticized the European community and insist on its termination. In order to reduce energy dependence on Moscow, deputies of the European parliament urged member states of the Commonwealth to show solidarity on this issue.

However, at the same time, despite the fairly tough policy with respect to Russia, the EU does not rule out the possibility of resuming cooperation with the country if all the clauses of the Minsk Agreement are implemented, although the most likely reason for this would be the ultimate stagnation in Europe when it becomes obvious that it is impossible to gain energy independence.

The business publication Bloomberg Business reported today that the hopes for European shale gas are not justified. Despite the desire of the EU to reduce its dependence on Russia, such a move is not feasible due to shale gas. The complex geopolitical conditions, fierce competition and foreign policy issues have led to the fact that investors are reluctant to invest in new projects, the profits from which remain a big question. The problem in Europe is that the number of the Commonwealth wells is not enough to provide all the necessary  energy to all the states, which is why it is necessary either to seek alternative sources or to improve relations with Russia.

In addition to investment issues, the development of new deposits of shale gas involves environmental issues that may eventually lead to environmental disaster. Many governments oppose the exploration of shale gas, so the dream of energy independence still remains a  dream for Europe.

The American publication Business Insider wrote today that Russia and South Africa have embarked on convergence. Jacob Zuma and Vladimir Putin continue to expand economic and strategic partnerships. South Africa did not support the sanctions against Russia, and with Brazil, India and China formed a powerful geopolitical alliance in opposition to Western power.

European leaders often underestimate the capacity of African countries, considering them to be countries of the third world, and do not consider them as serious players in the international arena. However, in alliance with the Russian state they have managed to create a powerful counterbalance to unstable Europe and America.