Short-term auctions for access to entry terminals of the British gas-network appear to successfully allocate scarce resources and capture scarcity rent. Now long-term auctions are being introduced to guide future capacity expansion decisions. In our model the fraction of rights issued in the...

After the Soviet breakup, Central Asia has gained importance for several States because of its geographical location and abundance of hydrocarbon reserves. These hydrocarbon reserves are located mainly in three countries: Kazakhstan, Turkmenistan and Uzbekistan. Each of them has taken different...