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.
La politique pétrolière Russe: Entre le G8 et L'arabie Saoudite
As this article pertains to many macroeconomic and microeconomic subjects as well as to political issues, we would like to advise the interested reader to refer directly to the titles of the sections announcing the subject dealt with. In this respect we may for instance point out Russia's future oil might, the importance of the price of oil for the Russian economy, the effects a price war between oil producers might have on Russia and the Russian oil policy vis-a-vis the G8, OPEC and Saudi Arabia.