Today or not today: Deregulating the Russian gas sector
Abstract Although Russia is the world's biggest producer of natural gas, its ability to maintain timely and reliable supply to meet the growing global demand has come under question in recent months. The gas war with Ukraine notwithstanding, concern has been raised by a number of observers that underinvestment in the gas sector will lead to a systemic failure of the state monopolist OAO Gazprom to increase or even maintain current levels of production. Yet with a quarter of European gas coming from Russia, and with increasing presence of Gazprom in European downstream operations (such as Germany, Hungary, and other CIS states) as well as seemingly closer ties with Algeria, another major supplier of gas to Europe, there has been a strong reaction from Europe's policy-makers to decrease dependence on Russian gas. Deregulating and liberalising the gas sector would see the lifting of restrictions to foreign or independent investors wishing to gain access to Russian reserves, as well as the unhindered access to the pipeline infrastructure and export markets. It would also signal the unbundling of Gazprom and an end to the artificially low price of gas to the domestic consumer. This paper discusses whether deregulation is the optimal way to raise capital, attract investment and increase supply security for Russia's Western neighbours. In doing so, the paper identifies the objectives of the EU as the importer whilst trying to align them with the objectives of the Russian Federation as the exporter, in the current political context.
The new Russian corporatism? : a case study of Gazprom
The "Post-Soviet business forum" series brings together the expertise of representatives of the business world, with researchers and specialists in key areas of economic and political change, and with academics and officials from Russia and other CIS states. It provides analysis of the emerging environment for investment and economic co-operation with the states of the former USSR. This volume assesses the existence of new Russian corporatism.
Severe Burns of the Hand: A Practical Guide to Their Management
Abstract Those who work regularly in burns units will be familiar with most of the contents of this paper, but it may be helpful for surgeons who treat hand burns less frequently outside this environment. Several reviews have appeared in recent years and this practical guide is intended to complement these (Salisbury, 1979; Leung and Chow, 1982; Madden and Enna, 1983; Groenevelt and Kreis, 1985; Levine and Buchanan, 1986; Silver, 1987; Grossman, 1990).