Market or geopolitics? The Europeanization of EU's energy corridors

Abstract

PurposeThe purpose of this article is to explore an energy strategy for the European Union (EU) that could integrate the tensions between geopolitics and the market in a coherent and consistent external EU energy policy.Design/methodology/approachThe approach consists of combining the theoretical framework of international political economy and Europeanization to European energy corridors.FindingsThe article finds that most qualitative energy security scenarios can be conceived as applications of international political economy paradigms. Its main result is to conceptually develop a geo‐economic strategy consisting on the Europeanization of EU's external energy corridors along its own energy regulations and standards.Research limitations/implicationsThe article explores a distinct hybrid scenario, the Europeanization of energy corridors, which could be instrumental in overcoming the apparent dilemma between EU's market and geopolitical‐based scenarios.Originality/valueThe original contribution of the article lies in the application of international political economy and Europeanization theories to energy security scenarios, and the inclusion of governments' preferences in the process of hedging market and geopolitical scenarios.