After re-gaining its independence on 18 October 1991, the Republic of Azerbaijan started the transformation to the market-based economy and the integration into the world economy. The country s oil and natural gas reserves have been considered the main source for financing a range of government...

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...

Gas is an interesting example in which the market structure cannot be derived from pure economic aspects. Due to huge required investments, substantial transport costs and large heterogeneity in gas deposits and major consumption areas geography is very important. Politics also plays an...