A Political Economy Investigation into the Impact of Low-cost LNG on the Energy Relations between Russia and the European Union

Student: Bambridge Charlotte serena

Faculty: Faculty of World Economy and International Affairs

Educational Programme: International Relations in Eurasia (Master)

Final Grade: 7

Year of Graduation: 2017

This paper analyses the impact EU member states’ access to LNG supplies has had on energy relations with Russia through a market liberal approach utilising the theory of Transaction Cost Economics. A quantitative analysis of Gazprom’s long-term gas contracts in the EU finds that a state’s access to LNG does not shorten the length of long-term contracts from Gazprom to energy companies in that state whilst a comparative analysis of contract renegotiations in selected EU member states finds that access to LNG improves the size of contract renegotiations but the causal mechanisms that lead to this are different across cases.

Full text (added May 24, 2017)

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