Russian energy security

While voicing concern for energy security, Russia last week forfeited its credibility on the subject. At an international meeting in Sochi, Russia, Sept. 17, President Vladimir Putin described his country’s plans to boost energy exports to the Asia-Pacific region. He validly asserted that security of markets is as important to producing nations as security of supply is to consumers. Yet he had nothing to say about security of investments crucial to supply.Indeed, the day after the Sochi remarks, Putin’s government announced a move that might shut Royal Dutch Shell PLC and its partners out of a $20 billion production, pipeline, and LNG project under construction on Sakhalin Isl...

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