This chapter examines the relations between the governments of the analysed countries and energy companies operating on their territories. It argues that the ability to successfully negotiate with energy companies influences the position of small member states’ governments towards integration in the external energy security area at the EU level. Austria’s position in this area is guided by the perception of its ability to negotiate mutually advantageous deals with energy businesses. Such a position is supported by its government’s ability to back the countryʼs energy companies, which simultaneously contribute to achieving the government’s objectives. The nature of mutual relations in the case of the Czech Republic and Slovakia is different: while their governments are developing a business environment that promotes the energy companies’ goals and also support them at the EU level, their relationship with the energy companies is not mutually fruitful. Namely, the governments are having a hard time persuading the companies to help them fulfil their countriesʼ objectives. The analysis claims that the business challenge in these countries is perceived in terms of vulnerability.