ANALYSIS OF THE ACTIVITIES OF EUROPEAN OIL AND GAS TNC IN CENTRAL ASIA

Abstract

The article discusses aspects of cooperation in the oil sector of multinational companies representing the interests of European Union countries. In the context of the economic crisis, the impossibility of OPEC + to regulate oil prices and the volume of its production, it is difficult to make forecasts of further economic cooperation. The coronavirus pandemic has shown that, contrary to the interests of globalization, national economies must remain self-sufficient. In our opinion, in the future, the legal regime for the presence of multinational companies in the interests of national economies will be revised. The Energy Charter of 1991, depriving the Central Asian countries of the right to judicial protection, the oil economic crisis will lead to a severe crisis in the oil sector. The geopolitical confrontation between Russia and the United Arab Emirates against the United States creates a new balance of forces that will affect the development of the Central Asian direction of the European Union’s foreign policy as the basis for energy security.