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dc.contributor.authorChyong, Chi Kong
dc.contributor.authorNoël, Pierre
dc.contributor.authorReiner, David M.
dc.date.accessioned2012-04-06T16:07:59Z
dc.date.available2012-04-06T16:07:59Z
dc.date.issued2010-09
dc.identifier.urihttp://www.dspace.cam.ac.uk/handle/1810/242076
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/242076
dc.description.abstractWe calculate the total cost of building Nord Stream and compare its levelised unit transportation cost with the existing options to transport Russian gas to western Europe. We find that the unit cost of shipping through Nord Stream is clearly lower than using the Ukrainian route and is only slightly above shipping through the Yamal-Europe pipeline. Using a large-scale gas simulation model we find a positive economic value for Nord Stream under various scenarios of demand for Russian gas in Europe. We disaggregate the value of Nord Stream into project economics (cost advantage), strategic value (impact on Ukraine’s transit fee) and security of supply value (insurance against disruption of the Ukrainian transit corridor). The economic fundamentals account for the bulk of Nord Stream’s positive value in all our scenarios.en_GB
dc.publisherFaculty of Economics
dc.relation.ispartofseriesCWPEen_GB
dc.relation.ispartofseries1051en_GB
dc.subjectNord Streamen_GB
dc.subjectRussiaen_GB
dc.subjectEuropeen_GB
dc.subjectUkraineen_GB
dc.subjectNatural gasen_GB
dc.subjectPipelineen_GB
dc.subjectGazpromen_GB
dc.titleThe Economics of the Nord Stream Pipeline Systemen_GB
dc.typeWorking Paperen_GB
dc.type.versionnot applicableen_GB
dc.identifier.doi10.17863/CAM.5570


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