German companies strengthen their cooperation with Russian gas suppliers. OSW Commentary No. 64, 2011-10-24

Germany’s decision to give up the use of nuclear energy will force it to find a conventional low-carbon energy source as a replacement; in the short term, in addition to coal, this is likely to be gas. Due to their continued high debt and the losses associated with the end of atomic power, German companies will not be able to spend large funds on investing in conventional energy. First of all, they will aim to raise capital and repay their debts. The money for this will come from selling off their less profitable assets; this will include sales on the gas market. This will create opportunities for natural gas exporters and extraction companies such as Gazprom to buy back some of the German companies’ assets (electricity companies, for example). The German companies will probably continue to seek to recover the costs incurred in the investment projects already underway, such as Nord Stream, the importance of which will grow after Russian gas imports increase. At the same time, because of their debts, the German companies will seek to minimise their investment costs by selling some shares on the conventional energy market, to Russian corporations among others; the latter would thus be able to increase their stake in the gas market in both Western (Germany, Great Britain, the Benelux countries) and Central Europe (Poland, the Czech Republic). It is possible that while establishing the details of cooperation between the Russian and German companies, Russia will try to put pressure on Germany to give up competing projects such as Nabucco. However, a well-diversified German energy market should be able to defend itself against attempts to increase German dependence on Russian gas supplies and the dictates of high prices.

Is Horizon 2020 really more SME-friendly? A look at the figures. CEPS Commentary, 17 February 2016

Small- and medium-sized enterprises (SMEs) play a key role in the EU economy.[1] According to the latest “SME performance review” published by the European Commission,[2] in 2014 there were 22 million SMEs active in the non-financial business sectors, generating more than €3.7 trillion in added value and employing approximately 90 million people. SMEs’ contribution to the European economy becomes even more apparent if one considers that 99 out of every 100 enterprises active in the EU non-financial economy are SMEs, and that these firms account for about 67% of the total employment and some 60% of the overall added value produced in Europe. Against this background, enhancing the competitiveness of European SMEs is essential in order to foster the competitiveness of the EU economy as a whole. And since the competitiveness of European SMEs in the global arena largely depends on their ability to innovate,[3] unlocking the innovation potential of SMEs becomes pivotal to fostering growth and jobs in Europe.

The twilight of the oil Eldorado. How the activity of Russian oil companies on the EU market has evolved. OSW Studies 55, April 2016

The European Union has traditionally been the most important outlet for Russian oil exports. At the same time, during the period 2011-2014 a systematic decline was observed in crude oil supplies to the EU, while at the same time the export of petroleum products increased. It is now difficult to say that Russia is following a coherent oil strategy vis-a-vis the EU. The current shape of Russian activity is more the result of the business interests of individual companies, rather than the result of activities coordinated by the state. Although in the short term (up to 2020), the negative trend in crude oil exports to the EU could be halted (as confirmed by the figures for 2015), the long-term prospects for Russia's position on the EU market are pessimistic. This is because the importance of factors unfavourable to Russia is rising, such as the decrease in consumption of oil in the EU, the increased competition among exporters to the EU market, and the deterioration of the climate of Russian/EU cooperation in the context of the anti-Russian sanctions, as well as unclear prospects for the development of the upstream sector in Russia.