Is Gas Cartel's Profitable for Russia? (A Case of European Gas Market)
AbstractThe problem of gas cartel formation is widely discussed in many countries, including Russia. Gas cartel can exist only within the world natural gas market, the latter being possible provided liquefied natural gas (LNG) becomes wide spread. Since for Russia, European gas market is of prime importance the paper analyses perspectives of gas cartel, relative to the European market. Equilibrium states of such a market have been found for the two cases - that of a competitive behavior of LNG exporters to Europe, and of gas cartel which includes Russia and LNG exporters. Conditions ensuring that Russia gets higher profit in case of participating in a gas cartel, rather than in case of competitive behavior of LNG exporters, have been obtained.
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Bibliographic InfoArticle provided by New Economic Association in its journal Journal of the New Economic Association.
Volume (Year): (2009)
Issue (Month): 1-2 ()
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Gas OPEC; Russian-European gas market;
Find related papers by JEL classification:
- D4 - Microeconomics - - Market Structure and Pricing
- Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
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