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dc.contributor.authorChyong, Chi Kong
dc.contributor.authorHobbs, Benjamin F.
dc.date.accessioned2012-04-06T14:09:23Z
dc.date.available2012-04-06T14:09:23Z
dc.date.issued2011-04-06
dc.identifier.otherCWPE1134
dc.identifier.urihttp://www.dspace.cam.ac.uk/handle/1810/242052
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/242052
dc.description.abstractThe mathematical formulation of a large-scale equilibrium natural gas simulation model is presented. Although large-scale natural gas models have been developed and used for energy security and policy analysis quite extensively (e.g., Holz (2007), Egging et al. (2008), Holz et al. (2009) and Lise et al. (2008)), this model differs from earlier ones in its detailed representation of the structure and operations of the Former Soviet Union (FSU) gas sector. In particular, the model represents: (i) market power of transit countries, (ii) transmission pipelines in Russia, Ukraine, Belarus and Central Asia, (iii) differentiation among gas production regions in Russia, and (iv) gas trade relations between FSU countries (e.g., Gazprom’s re-exporting of Central Asian gas). To demonstrate the model, a social benefit-cost analysis of the Nord Stream gas pipeline project from Russia to Germany via the Baltic Sea is provided. It is found that Nord Stream project is profitable for its investors and the project also improves social welfare in all market power scenarios. Also, if transit countries (Ukraine and Belarus) exert substantial market power then the economic value of Nord Stream to its investors and to society improves substantially. We also found that the value of Nord Stream investment is rather sensitive to the degree of downstream competition in European markets and that lack of downstream competition might result in the negative value of the Nord Stream system to Gazprom.en_GB
dc.publisherFaculty of Economics
dc.relation.ispartofseriesCambridge Working Papers in Economics
dc.rightsAll Rights Reserveden
dc.rights.urihttps://www.rioxx.net/licenses/all-rights-reserved/en
dc.subjectnatural gasen_GB
dc.subjectcomputational market equilibriumen_GB
dc.subjectcomplementarity modellingen_GB
dc.subjectoptimizationen_GB
dc.subjectNord Streamen_GB
dc.subjectSouth Streamen_GB
dc.subjectRussiaen_GB
dc.subjecttransiten_GB
dc.subjectpipelineen_GB
dc.subjectGazpromen_GB
dc.subjectenergy securityen_GB
dc.subjectEuropeen_GB
dc.titleStrategic Eurasian Natural Gas Model for Energy Securityen_GB
dc.typeWorking Paperen_GB
dc.type.versionnot applicableen_GB
dc.identifier.doi10.17863/CAM.5377


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