Assessing gas transit risks: Russia vs. the EU
AbstractThis paper proposes a Transit Risk Index (TRI) designed to assess the riskiness of pipeline gas imports and to study the effect of introducing new gas routes. TRI controls for gas dependency, transit route diversification, political risks of transit, pipeline rupture probability, and the balance of power between supplying and consuming countries along the transit route. Evaluating TRI for the EU-Russia gas trade, we show that the introduction of the Nord Stream pipeline would further widen already large disparities in gas risk exposure across the EU Member States. The gas risk exposure of the Member States served by Nord Stream would decline. In contrast, EU countries not connected to Nord Stream, but sharing other Russian gas transit routes with the Nord Stream countries, would face greater gas risk exposure. We discuss the implications of our analysis for the design of the common energy policy in the EU.
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Bibliographic InfoPaper provided by Stockholm Institute of Transition Economics, Stockholm School of Economics in its series SITE Working Paper Series with number 12.
Length: 29 pages
Date of creation: 03 Jun 2011
Date of revision:
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Postal: Stockholm Institute of Transition Economics, Stockholm School of Economics, P.O. Box 6501, SE-113 83 Stockholm, Sweden
Phone: (+46 8) 736 9670
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Gas transit risk; Index; Security of supply; Nord Stream; Common Energy Policy;
Other versions of this item:
- C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
- Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
- Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-06-25 (All new papers)
- NEP-EEC-2011-06-25 (European Economics)
- NEP-ENE-2011-06-25 (Energy Economics)
- NEP-EUR-2011-06-25 (Microeconomic European Issues)
- NEP-TRA-2011-06-25 (Transition Economics)
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- Le Coq, Chloe & Paltseva, Elena, 2012. "The EU-Russia Gas Relationship: a mutual dependency," SITE Working Paper Series 18, Stockholm Institute of Transition Economics, Stockholm School of Economics.
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