Working Papers
Energy Subsidies in the Arab World
Published: 21st February 2012| By: Bassam Fattouh, Laura El-Katiri
This paper, authored by Bassam Fattouh and Laura El-Katiri and published by the United Nations Development Programme, explores the issue of energy subsidies in the Arab World. The authors argue that while energy subsidies may be seen as achieving social objectives (such as expanding energy access and protecting poor households’ incomes); economic objectives (such as [...]
Categories / Country and Regional Studies, Energy Policy, Oil, Oil & Middle East Programme, Working Papers
Natural Gas Price Volatility in the UK and North America
Published: 2nd February 2012| By: Sofya Alterman
Lacking a commonly held definition, volatility is an often over-generalised term with different meanings to different constituencies. This does not detract from the importance of the subject. To traders volatility is a source of revenue, to energy intensive industrial end-users it is often perceived as a threat. Midstream utilities actively work to risk-manage volatility in [...]
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Rosneft – On the Road to Global NOC Status?
Published: 19th January 2012| By: James Henderson
Since the election of Vladimir Putin as president of Russia in 2000 Rosneft has become one of the cornerstones of the strategy for the Russian state to retake control over the ‘commanding heights’ of the economy, and in particular the energy sector. However, having now established itself as a global-scale oil company, Rosneft faces a [...]
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The Impact of a Globalising Market on Future European Gas Supply and Pricing: the Importance of Asian Demand and North American Supply
Published: 9th January 2012| By: Howard Rogers
In contrast to the majority of European gas analysis which has tended to concentrate on security issues narrowly defined as dependence on Russian gas supplies, this study shows how changes in North American gas supply and Asian gas demand over the next 15 years can create fundamentally different outcomes for European supply, demand and pricing. [...]
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The Outlook for U.S. Gas Prices in 2020: Henry Hub at $3 or $10?
Published: 21st December 2011| By: Michelle Michot Foss
In this paper Michelle Foss concludes that Henry Hub gas prices could credibly be as low as $3/MMbtu, or as high as $10/MMbtu in 2020 but that the balance of likelihoods is for a price late this decade which is significantly higher than the current $3-4/MMbtu levels of 2011. Michelle Foss’ study looks at the [...]
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Back to the Future: Electricity Market Reform Update
Published: 20th December 2011| By: Malcolm Keay
The Government has published what is called a “technical update” to its electricity market reform White Paper. This Comment by Malcolm Keay analyses the new proposals and their implications. Many important questions about the new system remain unanswered, but the overall direction is clear – towards a planned electricity system whose function is to deliver [...]
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Energy Efficiency – Should We Take It Seriously?
Published: 19th December 2011| By: Malcolm Keay
In this Paper, Malcolm Keay looks at governments’ uncritical reliance on energy efficiency to achieve multiple energy policy objectives. He concludes that most existing programmes are ill-directed, badly monitored and probably ineffective in reducing energy demand and emissions – indeed they may be diverting attention from more effective measures. A more targeted approach is needed [...]
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Domestic Gas Prices in Russia – Towards Export Netback?
Published: 4th November 2011| By: James Henderson
This paper, by James Henderson, concludes that Russian domestic gas prices are not likely to reach European netback levels any time soon, but that the momentum of the past five years towards significantly higher domestic prices will continue, leading to an eventual liberalization of the Russian gas market. Over the next decade, this could create [...]
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Expanding the European dimension in energy policy: the Commission’s latest initiatives
Published: 28th October 2011| By: David Buchan
The European Commission has broken new ground in proposing to streamline national planning approval of vital energy infrastructure, use EU funds to leverage private finance for such networks and to negotiate foreign pipelines on the EU’s behalf. These initiatives coincide awkwardly with the eurozone crisis. But David Buchan broadly endorses Brussels’ attempt to kick-start implementation [...]
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The Pricing Debate over Russian Gas Exports to China
Published: 3rd October 2011| By: James Henderson
The Oxford Institute for Energy Studies has recently published a paper which concludes that agreement between Russia and China for pipeline gas exports may not be reached this year or even in 2012. The paper by James Henderson suggests that the Chinese have developed other gas import options from Central Asia, Myanmar and a range [...]
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