nep-cis New Economics Papers
on Confederation of Independent States
Issue of 2005‒05‒14
four papers chosen by
Anna Y. Borodina
Perm State University

  1. The viability of deregulation in the russian gas industry By Catherine Locatelli
  2. The russian oil industry between public and private governance : obstacles to international oil companies' investment strategies By Catherine Locatelli
  3. Changes in Russia's gas exportation strategy: Europe versus Asia ? By Catherine Locatelli
  4. The entry of China to the gas market: constraints and opportunities By Catherine Locatelli

  1. By: Catherine Locatelli (LEPII - Laboratoire d'économie de la production et de l'intégration internationale - - CNRS : FRE2664 - Université Pierre Mendès-France - Grenoble II)
    Abstract: Russia is the world's leading gas producer. But reforming the gas industry is currently one of the major challenges facing the Russian energy industry in order to pursue its development. Since 1991, the terms of the debate have scarcely changed: what level of deregulation is required, or can be introduced, in the gas industry? The reform project, actually discussed, is quite limited. This aim is to favour the development of competition on the Russian domestic market by creation of new producers. But it maintains the production-transport integration of Gazprom, the actual gas monopoly. Also, Gazprom will retain the monopoly on exports. So, the first stage of the reform, will only be the setting-up of a transparent and non-discriminatory transportation network for Gazprom, with regulated prices, and the creation of an unregulated market alongside a regulated market. But the issue of the reform begs a number of questions on the extent to which it will be accepted by the various actors involved at different levels.
    Keywords: russie;reforme;industrie gaziere;déréglementation;gas industry;deregulation;russia
    Date: 2004–03–16
  2. By: Catherine Locatelli (LEPII - Laboratoire d’Economie de la Production et de l’Intégration Internationale - - CNRS : FRE2664 - Université Pierre Mendès-France - Grenoble II)
    Abstract: The low level of involvement by international oil companies in Russia seems difficult to explain given what development of its resources and production has to offer. There are still many restrictions and contradictions, born of the particular institutional and political environment of the Russian oil industry at the end of fifteen years of transition, that act as a bar to international integration. Three factors currently define the establishment of relations with foreign investors. First, because of the many different levels of negotiation with Russian companies, the State and the Regions, the decisions are based on complex relations between the various forces. Second, the reforms, and especially privatisation and the allocation of rights of ownership to deposits, are considered by sizeable sections of public opinion and many political classes to be illegitimate, thus making the issue of international investment and foreign presence still more complicated. Finally, the State's wish to take back the oil industry in order to use it to fulfil its economic and foreign policies is creating further uncertainty. These three elements seriously restrict the entry of international oil companies to the Russian market.
    Keywords: industrie pétrolière;Russie
    Date: 2004–07–01
  3. By: Catherine Locatelli (LEPII - Laboratoire d'Economie de la Production et de l'Intégration Internationale - - CNRS : FRE2664 - Université Pierre Mendès-France - Grenoble II)
    Abstract: Russia's gas strategy is currently undergoing fundamental changes. The internationalisation of Russia's gas exchanges is at the heart of Gazprom's strategy. The institutional and organisational developments in its principal export market, that of the European Union is a major challenge that brings opportunities as well as constraints. The European Union is still its main export market, but the emergence of Asia as a significant importer of gas is likely to modify the Russian gas export strategy. To some extent, Russia could bring these various potential markets into competition, at least as far as Europe and Asia are concerned. With almost 40% of world gas reserves, Russia undoubtedly has a card to play on the international energy markets.
    Keywords: Russian gas exportation;Liberalisation;European gas market;Russian gas policy
    Date: 2004–12–02
  4. By: Catherine Locatelli (LEPII - Laboratoire d'Economie de la Production et de l'Intégration Internationale - - CNRS : FRE2664 - Université Pierre Mendès-France - Grenoble II)
    Abstract: China will emerge in the next twenty years as a major importer of gas and thus shape the energy exchanges and markets in Asia. But different constraints must be overcome. The increase of natural gas share in the Chinese energy balance will depend on the country's capacity to create a unified gas market in place and instead of the fragmented exchanges. This implies several economic and institutional reforms (as for example the energy price reform). One important element that will determine the growth of the Chinese gas industry concerns the role of international investors. The growth of the Chinese gas demand would lead to a radical change in the country's energy policy, which up until now has been dominated by the search for self-sufficiency. From this point of view, the question of the choices of the main gas suppliers is essential concerning the Chinese energy security. Different countries are in competition. But the choices of the main suppliers are very linked with the way in which China perceives its integration at the international level and in the Asian region.
    Keywords: demande;gaz naturel;industrie gazière;investissement international;sécurité énergétique; prix;gnl;pipeline;Chine;Russie;Mer Caspienne;Chinese gas demand;Chinese gas price reform;International investments;gas pipeline projects;LNG projects;Energy security;Russia;Caspian countries
    Date: 2004–09–01

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