The US’ shale gas revolution could in the long term destabilize traditional oil- and gas exporters in the European Union (EU) neighborhood: A combination of substitution effects and greater energy efficiency, could put pressure on the price of oil, leading to fiscal difficulties in traditional hydrocarbon exporting countries.
The Hague Centre for Strategic Studies (HCSS) conducted a study on the geopolitical consequences of shale gas in the context of the ‘Strategy & Change program’. HCSS calls upon the EU to seek alternate interdependencies with the oil and gas exporters in its immediate neighborhood, leading to a further development of these nations.
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