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Prof. Kari Liuhto Director Pan-European Institute (PEI) Turku School of Economics and B. A.

Shipments of Russian Oil via the Baltic Sea: A source of integration or disintegration in Europe?. Prof. Kari Liuhto Director Pan-European Institute (PEI) Turku School of Economics and B. A. www.tukkk.fi/pei/e Nelijärve 22.5.2004. Pan-European Institute (PEI).

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Prof. Kari Liuhto Director Pan-European Institute (PEI) Turku School of Economics and B. A.

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  1. Shipments of Russian Oil via the Baltic Sea: A source of integration or disintegration in Europe? Prof. Kari Liuhto Director Pan-European Institute (PEI) Turku School of Economics and B. A. www.tukkk.fi/pei/e Nelijärve 22.5.2004 www.tukkk.fi/pei/e

  2. Pan-European Institute (PEI) PEI was founded in 1998, when two institutes were merged:- Institute for East-West Trade (est. 1987) - Institute for European Studies (est. 1989) PEI is one of the leading academic research centres in its field in Northern Europe www.tukkk.fi/pei/e

  3. Core Activities • PEI conducts high-quality academic and applied research • PEI monitors economic development in the Baltic Sea Rim and Russia • PEI provides education and training • PEI carries out projects funded by several organisations www.tukkk.fi/pei/e

  4. Research Focus • Economic and business development in the Baltic Sea region • Economic relations between the EU and Russia • FDI inflow and outflow from Russia • Regional development in Wider Europe • SME development in eastern regions of the EU and countries bordering the Union in the East www.tukkk.fi/pei/e

  5. Economic Monitoring • Currently PEI executes three monitoring activities: • Bimonthly review on the Baltic States and Poland • Biannual review on the Kaliningrad region • Weekly business reporting concerning the Kaliningrad region and St. Petersburg • New monitoring activity concerning Russia will be introduced in June 2004 www.tukkk.fi/pei/e

  6. The role of the PEI in providing economic information • Operation philosophy: • Objective (neutral) • Transparent (website) • Fast (electronic mailing) • Free of charge (most of services) • Events (high-level conferences) • Frequent (several monitoring activities) • Education and training (academic and applied in-house) • Visit -> http://www.tukkk.fi/pei/e www.tukkk.fi/pei/e

  7. Development of Russian economy (GDP)GDP 2003 was $ 434 bn (MP) or $ 1450 bn (PPP)a third of the growth due to high oil price in 2003 Sources: Bank of Finland www.tukkk.fi/pei/e

  8. Russia’s Foreign Trade(EU25 accounts for ~ 50%) Source: Bank of Finland www.tukkk.fi/pei/e

  9. Russia’s export structure in 2003 Source: Bank of Finland www.tukkk.fi/pei/e

  10. Russia – an oil economy * reserves 5-10% of world (P/R-ratio 22) * oil and gas ~ 25% of GDP (WP) * over 50% of extracted oil exported * 2nd largest exporter of oil in the world * over 50% of Russia’s oil exports arrive in the EU www.tukkk.fi/pei/e

  11. Russian oil producers in 2004 Source: Troika Dialog www.tukkk.fi/pei/e

  12. Source: EU www.tukkk.fi/pei/e

  13. Source: EU www.tukkk.fi/pei/e

  14. Russia’s crude exports in 2002 Source: Russian Petroleum Investor www.tukkk.fi/pei/e

  15. www.tukkk.fi/pei/e

  16. Oil transportation in the Gulf of Finland Source: SYKE (2003) www.tukkk.fi/pei/e

  17. Some oil terminals in the Russia territory of the Baltic Sea Rim Planned capacity Primorsk up to 70 mt (by the end of the decade) St. Petersburg 16 mt (by 2005-2006) Bukhta Batareinaya 6-15 mt (by the end of 2004) Vysotsk 5-11 mt (by the end of 2004) Vyborg 1 mt (extension open) Ust-Luga 5-6 mt (by 2010) Vistino up to 10 mt Kaliningrad up to 10 mt By the end of the decade, probably over 100 million tonnes www.tukkk.fi/pei/e

  18. Conclusion • Russian oil shipments via the BS grow (risks grow) (Murmansk pipe uncertain – Arkangelsk port ?) • Safety and stricter control measures needed (VTMIS, double-hulled ships, on spot sanctions) • Public awareness in Russia should be influenced • Closer EU-Russian co-operation required • Team play among Baltic countries www.tukkk.fi/pei/e

  19. Epilogue Russian oil is a source of integration in Europe, if it does not represent an environmental threat in the Baltic Sea or elsewhere and if it is not used as a political instrument to obtain conservative goals of Russian foreign policy. www.tukkk.fi/pei/e

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