The relationship between national energy policies and the activities of energy companies in an era of climate change throws some light on IPE debates about the relationship between states and markets. This analysis of Gazprom’s investment in gas-fired power generation and gas-fuelled transportation illustrates the extent to which national and supranational governance shapes the strategies of commercial actors in the energy sector. In this context, Russia’s position as an energy-exporting country influences the policy orientation of the Russian government, and renders Gazprom distinct from import-dependent European energy companies. As a result, Gazprom has emerged as a powerful lobbyist for gas-fired power generation and gas-powered transportation, with substantial consequences for decarbonisation efforts in both Russia and the EU.
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