ABSTRACT
This chapter analyzes the situation of the EU and the Emerging Powers in this "new energy world" and identifies the major challenges that have to be faced and managed by international energy governance. The energy world is becoming more heterogeneous and fragmented, as national and regional energy paths increasingly diverge. The main assumption to be drawn is that it is in the EU's interest to increase dialogue and cooperation with the Emerging Powers to address global challenges and hedge common vulnerabilities. While EU Member States are well incorporated into the energy governance landscape, the Emerging Powers Brazil, China, India, and South Africa are also, but to a much lesser extent, integrated into the existing institutions and regimes. The geo-economics and geopolitical implications of these developments are profound, because they change the vulnerability and sensitivity of countries to supply crises and price fluctuations.
