Russian and European gas interdependence. Can market forces balance out geopolitics?
This article analyses the economic risk associated with the dominant position of the Russian vendor in the European market, with a view to assessing the relevance of possible responses by European nations or the EU. It considers various aspects of the Russian vendor's dependence on the European market, before turning to the risks that Gazprom exerts market power on the European market. It concludes by considering the relevance of the possible responses open to the EU and member states to limit any risks by creating a gas single buyer or more simply by encouraging the development of a denser pan-European network, with additional sources of supply and increased market integration.
|Date of creation:||Jan 2008|
|Date of revision:|
|Publication status:||Published in Energy Policy, Elsevier, 2008, 36 (1), pp.423-442|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00129618v2|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Hubert, Franz & Ikonnikova, Svetlana, 2009.
"Investment Options and Bargaining Power the Eurasian Supply Chain for Natural Gas,"
17854, University Library of Munich, Germany.
- Franz Hubert & Svetlana Ikonnikova, 2011. "Investment Options And Bargaining Power: The Eurasian Supply Chain For Natural Gas," Journal of Industrial Economics, Wiley Blackwell, vol. 59(1), pages 85-116, 03.
- Locatelli, Catherine, 2006. "The Russian oil industry between public and private governance: obstacles to international oil companies' investment strategies," Energy Policy, Elsevier, vol. 34(9), pages 1075-1085, June.
- Eirik Lund Sagen & Marina Tsygankova, 2006.
"Russian Natural Gas Exports to Europe: Effects of Russian Gas Market Reforms and the Rising Market Power of Gazprom,"
Discussion Papers of DIW Berlin
597, DIW Berlin, German Institute for Economic Research.
- Eirik Lund Sagen & Marina Tsygankova, 2006. "Russian Natural Gas Exports to Europe. Effects of Russian gas market reforms and the rising market power of Gazprom," Discussion Papers 445, Statistics Norway, Research Department.
- Catherine Locatelli, 2003. "The viability of deregulation in the russian gas industry," Post-Print halshs-00001308, HAL.
- David G. Tarr & Peter D. Thomson, 2004. "The Merits of Dual Pricing of Russian Natural Gas," The World Economy, Wiley Blackwell, vol. 27(8), pages 1173-1194, 08.
- Allaz Blaise & Vila Jean-Luc, 1993. "Cournot Competition, Forward Markets and Efficiency," Journal of Economic Theory, Elsevier, vol. 59(1), pages 1-16, February.
- Rudiger Ahrend & William Tompson, 2004. "Russia's Gas Sector: The Endless Wait for Reform?," OECD Economics Department Working Papers 402, OECD Publishing.
- Dominique Finon & Catherine Locatelli, 2002. "The liberalisation of the European gas market and its consequences for Russia," Post-Print halshs-00177828, HAL.
- Quast, Oliver & Locatelli, Catherine, 1997. "Russian natural gas policy and its possible effects on European gas markets," Energy Policy, Elsevier, vol. 25(2), pages 125-133, February.
- Correlje, Aad & van der Linde, Coby, 2006. "Energy supply security and geopolitics: A European perspective," Energy Policy, Elsevier, vol. 34(5), pages 532-543, March.
- Catherine Locatelli, 2006. "The russian oil industry between public and private governance : obstacles to international oil companies' investment strategies," Post-Print halshs-00002159, HAL.
- Dominique Finon & Catherine Locatelli, 2002. "The liberalisation of the European gas market and its consequences for Russia," Post-Print halshs-00187059, HAL.
- Baumol, William J & Panzar, John C & Willig, Robert D, 1983. "Contestable Markets: An Uprising in the Theory of Industry Structure: Reply," American Economic Review, American Economic Association, vol. 73(3), pages 491-96, June.
- Rolf Golombek & Eystein Gjelsvik & Knut Einar Rosendahl, 1995. "Effects of Liberalizing the Natural Gas Markets in Western Europe," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 85-112.
When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-00129618. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD)
If references are entirely missing, you can add them using this form.