Investing in Large-Scale Infrastructure Projects in the Context of the Game Theory - Evidence from the PipelineTransportation of Russian Natural Gas to European Countries

Student: Khokhlova Elizaveta

Faculty: Faculty of World Economy and International Affairs

Educational Programme: World Economy (Master)

Year of Graduation: 2019

In the work game theory is used to analyze how the structure of gas pipelines affects the distribution of forces in the supply chain of Russian gas to European countries, and accordingly, how it affects the distribution of gains as a result of bargaining. Russia and the European Union occupy a dominant position in the supply chain, because without them, coalitions are not able to create values. The study takes into account the role of transit countries, their strategic importance. In the context of the possible extension of the policy of the Third Energy Package to the Nord Stream gas pipeline, a comparative analysis of the players' gains depending on the supply route is carried out using the Shapley vector.

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