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A Political Economy Approach to the European Union Gas Model: Continuities and Changes

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  • Rafael Fernandez
  • Enrique Palazuelos

Abstract

The European Union gas model worked steadily for nearly four decades: since the time that gas first emerged as an important resource in European energy demand. However, since the late 1990s this stability has been disrupted by a number of factors. The EU reform agenda has been the most important of these. Following a structural-conduct-performance plan, the European Commission has forced changes on players, scenarios and exchange mechanisms through legislative action in order to build a new energy model based on those operating in the United States and the United Kingdom. The main point of this article is that despite these actions, many features of the traditional model have been modified but not removed, and many changes have not brought the results initially expected. These results are mainly due to the fact that the power relations among the main players of the pre-reform model are still in place.

Suggested Citation

  • Rafael Fernandez & Enrique Palazuelos, 2014. "A Political Economy Approach to the European Union Gas Model: Continuities and Changes," Journal of Common Market Studies, Wiley Blackwell, vol. 52(3), pages 495-511, May.
    • Handle: RePEc:bla:jcmkts:v:52:y:2014:i:3:p:495-511
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    References listed on IDEAS

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    1. Eikeland, Per Ove, 2007. "Downstream natural gas in Europe--High hopes dashed for upstream oil and gas companies," Energy Policy, Elsevier, vol. 35(1), pages 227-237, January.
    2. Edward Hunter Christie & Pavel K. Bev & Volodymyr Golovko, 2011. "Vulnerability and Bargaining Power in EU-Russia Gas Relations," FIW Research Reports series III-003, FIW.
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