The Future Of Russian Gas And Gazprom

Hardcover | May 3, 2006

byJonathan Stern

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The Russian gas industry provides 50% of Russian domestic energy supplies, a substantial proportion of CIS gas supplies, and around 20% of European gas demand. Declines in production at existing fields mean that Gazprom will face increasingly difficult decisions about moving to higher costfields on the Yamal Peninsula. The alternative will be increasing imports from Central Asian countries and allowing other Russian gas producers to increase their role in the industry. Russian exports to Europe will gradually increase and deliveries of Russian LNG will commence to Asia and the bothcoasts of North America. Pipeline gas deliveries to East Asian countries may have a longer time horizon. Export projects aimed at new markets will depend crucially on the maintenance of (oil and) gas prices at the levels of 2003-05. European exports will also depend on the pace of EU marketliberalisation and Gazprom's ability to agree mutually acceptable terms for transit, principally with Ukraine and Belarus.Reform, liberalisation and restructuring of the Russian gas industry have been more substantial than has generally been recognised. Most important has been price reform which, in 2005, allowed Russian industrial customers to become profitable to serve at regulated prices. Price increases maysignificantly reduce future increases in domestic gas demand. The increasing need for production from companies other than Gazprom will ensure that liberalised access to networks expands considerably over the next decade. In the 2000s, Gazprom reclaimed its CIS gas business from intermediaries, while maintaining its de facto monopoly of exports to Europe and establishing a similar degree of authority over future exports to Asia. The merger of Gazprom and Rosneft will provide the potential to become a force in thedomestic and international oil markets, particularly given the authority that the president has conferred on the company in terms of Russian energy policy.

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The Russian gas industry provides 50% of Russian domestic energy supplies, a substantial proportion of CIS gas supplies, and around 20% of European gas demand. Declines in production at existing fields mean that Gazprom will face increasingly difficult decisions about moving to higher costfields on the Yamal Peninsula. The alternative ...

Jonathan Stern is Director of Gas Research at the Oxford Institute for Energy Studies and Honorary Professor at the Centre for Energy, Petroleum and Mineral Law and Policy, University of Dundee. Since 1992 he has been Associate Fellow of the Royal Institute of International Affairs' Sustainable Development (formerly Energy and Environ...

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Format:HardcoverDimensions:300 pages, 9.21 × 6.14 × 0.87 inPublished:May 3, 2006Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0197300316

ISBN - 13:9780197300312

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Table of Contents

1. The Russian Gas Market2. CIS Gas Grade and Transit3. Export Strategy and Challenges: Europe, Asia, and LNG4. Reform, Restructuring, and Liberalization5. Summary and Conclusions: The Future of Russian Gas and Gazprom

Editorial Reviews

"Jonathan P. Stern, the leading authority on Gazprom for the past three decades, has pulled together his wisdom into this monograph which will be an essential vade mecum for Russia-watchers."--The Russian Review