This study aims to examine the impact of unbundling regulation (vertical separation) on incentives for pipeline investment. Recently, the Japanese government has decided to institute vertical separation of natural gas companies. Major existing natural gas companies, called incumbents, will be...

We propose a model of the European gas market where the risk that Russian deliveries are interrupted is endogenized. While Russia's attempts to buy considerable parts of the European downstream industry have faced strong political opposition, we argue that Russian participation in the downstream...

The paper presents a hybrid model for the consideration of organisational governance forms in industrial relationships, which is then utilised in the analysis of a specific case concerning Russian Gazprom’s operations in Finland as the sole supplier of natural gas to the Finnish market. Such...