The present paper studies the effect of an upward correction of the natural gas price on the Russian domestic market. Russia has the largest gas reserves in the world and currently produces around 550 billion cubic meters of gas each year. Sixty percent of the production is sold domestically at...

We use cooperative game theory to analyze the strategic impact of three controversial pipeline projects. Two of them, Nord Stream and South Stream, allow Russian gas to bypass transit countries, Ukraine and Belarus. Nord Stream's strategic value turns out to be huge, justifying the high...

The energy security is a subject often picked by government representatives of current times, who take actions influencing geopolitical relationship of Europe and globe. It is an important aspect because of its economical, ecological and environmental nature. Tensions between countries of...

Turkey is a key country in order to realize the Southern Gas Corridor (SGC) due to its geographical location. However, as the main transit country within the SGC, Turkey could potentially exert market power with gas transits. Whether Turkey exerts market power or not, is crucial for an economic...

The construction of a second Baltic Sea natural gas pipeline from Russia to Germany (Nord Stream 2) is very controversial for political, energy economic, and ecological reasons. The project owner and some European energy companies argue that it is a profitable, private-sector investment project...

Over the last 20 years, Russia has taken several initiatives in order to become an LNG producer of global relevance. Failing to achieve this status for long while being instead a natural gas producer and exporter, Moscow has undertaken an ambitious reform process of the domestic gas system....

Russia is the world's largest gas exporter and Germany is its most important market. Moreover, natural gas is a centerpiece of the Russian economy and the backbone of its energy supply to the Russian population. In terms of its external gas relations, Germany has always kept a special and...