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The Globalization of Russian Gas

Political and Commercial Catalysts James Henderson, Director, Natural Gas Research Programme, Oxford Institute for Energy Studies (OIES), UK, Visiting Professor, Masaryk University, Brno, Czech Republic and Arild Moe, Research Professor, Fridtjof Nansen Institute (FNI), Norway
Since the collapse of the Soviet Union, Gazprom has dominated the Russian gas industry. However, the markets in which it operates have changed dramatically, with the company increasingly being challenged at home and abroad. At this critical moment, this insightful book analyses the involvement of the Russian gas industry in the changing international gas market and the dramatic implications for Russia’s role as a global supplier of gas in the future.
Extent: c 208 pp
Hardback Price: $115.00 Web: $103.50
Publication Date: December 2019
ISBN: 978 1 78990 037 8
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  • eISBN: 978 1 78990 038 5

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Since the collapse of the Soviet Union, Gazprom has dominated the Russian gas industry. However, the markets in which it operates have changed dramatically, with the company increasingly being challenged at home and abroad. At this critical moment, this insightful book analyses the involvement of the Russian gas industry in the changing international gas market and the dramatic implications for Russia’s role as a global supplier of gas in the future.

James Henderson and Arild Moe explore the link between changes in Russia’s domestic market, where new players have recently emerged, and the development of Russia’s gas export business. In particular, they assess the growing importance of LNG exports and the role of Novatek in developing this new business area for Russia. They also review changes in European gas trade and the development of new EU regulations, analysing the ambiguities in Europe’s position on gas exports from Russia and showing why efforts to limit expansion of Russian gas exports have been unsuccessful.

Timely and comprehensive, this book is critical reading for academics and researchers interested in the development of the global gas market. Policymakers and economists, particularly Russian specialists, will benefit from this book’s key insights into the economic and political consequences of Russia’s changing role in the global gas market.
‘James Henderson and Arild Moe bring years of research on Russian gas to this examination of the interplay between domestic developments and global forces. They explain changing dynamics in the Russian market and the growing competition between Gazprom, Rosneft and Novatek. Having failed to take US shale gas and the EU’s liberalisation project seriously, they detail how Gazprom has gained from market competition. However, it is Novatek that has stolen a march in leading Russia’s drive to become a serious player in the global LNG market. This book is essential ready for everyone interested in the global gas market and the future of gas in Russia.’
– Michael Bradshaw, University of Warwick, UK

‘For energy and geopolitical practitioners, this valuable book provides an indispensable analysis of the importance of viewing Russian gas through European, Asian and global lenses, as the country becomes an increasingly important player not just in relation to pipeline gas, but also in the global LNG market.’
– Jonathan Stern, The Oxford Institute for Energy Studies, UK
Contents 1. Introduction 2. Domestic gas politics 3. SPIMEX and the traded gas market in Russia: A signpost for the future? 4. Gazprom and the Evolution of the European Gas Market 5. The increased politicization of Russian gas supplies 6. The Promise of Asian Markets 7. LNG - globalisation in another manner 8. Conclusions Index