Article at a glance:

Europe and Russia: Charting an energy alliance

• Europe and Russia have a historic opportunity and strong economic incentives to expand their energy security relationship.
• To make the most of this relationship, the two sides must collaborate to control the risks that now put off billions of dollars in needed investment in the energy sector.
• Both must accelerate their regulatory reforms, seek opportunities for cross-border projects, and facilitate a more transparent gas market.
• Europe and Russia will find energy security only by following a collaborative approach to control the risks they both face.