Natural gas supplies are one of the main trade flows, connecting Russia and other European countries. A significant share of Russian gas in fuel balances of the leading European countries and large-scale projects implementation, led by the Russian companies, trigger European politicians’ concerns regarding potential use of the Russia’s gas industry as a policy tool. The article presents an analysis of the state of play of mutual economic integration potential which can be used to boost the EU and Russian economic growth.

The main thrust of the article is focused on a junction between economics and politics, providing for comprehensive and interdisciplinary approach.  The fundamental role of energy sector for European economies and increasing significance of natural gas for energy production stipulates rising political and economic concerns on both corporate and state levels. Finding out new ways for mutually beneficial cooperation can be set as a common target for the relations between Russia and leading West-European countries. Mitigation of political discrepancies and emphasis on general economic interests can be treated as a potential solution for achieving new level of economic cooperation.

Russian gas industry is considered as a strategic field of Trans-European interest, catalyzing economic relations due to its importance for the entire regional market of Wider Europe.