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Energising TTIP: diversification through trade?
The Transatlantic Trade and Investment Partnership (TTIP) negotiations launched in 2013 are an unprecedented attempt to create an integrated transatlantic market. Washington, Brussels and EU member states see it as a means to boost the transatlantic alliance, help regain economic competitiveness, and set new and ambitious rules for international trade and investment.
Moreover, energy trade proper has become an important topic of discussion around TTIP: the crisis in Ukraine, Europe’s own energy challenges and the US shale revolution have given the issue particular salience. But although TTIP can contribute to improving the EU’s energy balance, it cannot reduce EU reliance on Russian gas imports, at least not in the short term. Moreover, all parties involved will need to brace themselves for a protracted period of difficult and lengthy negotiations.