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 viability of deregulation in the russian gas industry
Russia is the world's leading gas producer. But reforming the gas industry is currently one of the major challenges facing the Russian energy industry in order to pursue its development. Since 1991, the terms of the debate have scarcely changed: what level of deregulation is required, or can be introduced, in the gas industry? The reform project, actually discussed, is quite limited. This aim is to favour the development of competition on the Russian domestic market by creation of new producers. But it maintains the production-transport integration of Gazprom, the actual gas monopoly. Also, Gazprom will retain the monopoly on exports. So, the first stage of the reform, will only be the setting-up of a transparent and non-discriminatory transportation network for Gazprom, with regulated prices, and the creation of an unregulated market alongside a regulated market. But the issue of the reform begs a number of questions on the extent to which it will be accepted by the various actors involved at different levels.
The Problems and Opportunities in Developing International Business Programs
This paper discusses the results of a survey conducted among AACSB member schools. The survey dealt with two major topical areas. These were (a) what types of International Business programs currently exist in AACSB Schools, and (b) problems associated with these programs. The paper also suggests countries that offer opportunities to Colleges of Business to pursue countty-specific programs.