We use the Shapley value and the nucleolus to analyze the impact of three controversial pipeline projects on the power structure in the Eurasian trade of natural gas. Two pipelines, `Nord Stream' and `South Stream', allow Russian gas to bypass transit countries, Ukraine and Belarus. The third...

Existing cooperative game theoretic studies of bargaining power in gas pipeline systems are based on the so called characteristic function form (CFF). This approach is potentially misleading if some pipelines fall under regulated third party access (TPA). TPA, which is by now the norm in the EU,...

We develop a dynamic model of strategic investment in a transnational pipeline system. In the absence of international contract enforcement, countries may distort investment in order to increase their bargaining power, resulting in overinvestment in expensive and underinvestment in cheap...

We develop a dynamic model of strategic investment in a transnational pipeline system. In the absence of international contract enforcement, countries may distort investment in order to increase their bargaining power, resulting in overinvestment in expensive and underinvestment in cheap...

The purpose of this paper is the comparative analysis of four natural gas storage valuation approaches. In competitive natural gas markets the optimal valuation and operation of natural gas storages is a key task for natural gas companies operating storages. Within this paper, four spot based...

This paper provides an empirical analysis linking two theories of the firm. We analyze corporate strategies in the emerging global market for liquefied natural gas. First, following Porter, we identify three strategic target market positions: chain optimization versus flexibility strategy versus...

This paper analyzes the role of storage for economies facing the risk of a gas supply disruption. We characterize the optimal/competitive transitory dynamics (accumulation, drainage and target stock). We partially relax the irreversibility hypothesis, by extending the model in two directions:...

Azerbaycan Cumhuriyyeti eski Sovyetler Birliyinin petrol ve doğal gaz bakımdan zengin ülkelerinden biridir.Sah Deniz projesinin ikinci etapından sonra çıkarılacak doğal gazın hacminin artması Azerbaycanı kendine özgü gaz politikası oluşturmaga itti.Bu yönde önemli bir proje...

The interdependence of electricity and natural gas is becoming a major energy policy and regulatory issue in all jurisdictions around the world. The increased role of gas fired plants in renewable-based electricity markets and the dependence on gas imports make this issue particular striking for...