The changes in international natural gas markets since the 2008 economic crisis have impacted powerfully on Russia. This is the subject of a book, published in May 2014 – The Russian Gas Matrix: HowMarkets Are Driving Change – that I have written with my colleagues at the Oxford Institute for Energy Studies. It covers the way that Gazprom, Russia’s dominant gas company, has been affected by new pricing trends and regulatory regimes in Europe, its main export market; the increased competition between Gazprom and other producers in Russia itself; far-reaching change in CIS markets; and Russian hopes of opening up the Asian export market. It looks at choices being made about the gas industry’s future – on export strategy, domestic market reform, and models of upstream development and taxation – that will affect not only Russia’s future as an energy exporter, but also its economy and population.
Wednesday 19 March 2014
The change of government in Kyiv, the Russian military action in Crimea and the danger of war all have implications for the economic relations between Russia, Ukraine and Europe, especially in the sphere of energy. Russia supplies 30% of Europe's natural gas, and much of it is transported via Ukraine. Together with my colleagues at the Oxford Institute for Energy Studies, I have written a comment, What the Ukraine Crisis Means For Gas Markets, published on 10 March 2014.