Russia is one of the key natural gas suppliers in the world. It has large domestic market, as well as a number of significant export projects – massive pipeline and LNG infrastructure projects connect Russia with downstream markets in both West and East.
As natural gas is considered to be an important part of the Energy Transition, there is much that Russian companies have to offer. Yet, they face serious challenges in the key export markets, such as changing market structures, strong competition from other suppliers, sanctions, etc. In order to allow students to analyse how Russian companies could deal with these challenges in the future, the course offers a conceptual introduction to contemporary natural gas markets; introduces key terms and methodologies; and provides the factual background about key target markets.
Throughout the course, we will look into the supply and demand balances (including historical perspectives) of the core target markets for Russian natural gas, the existing set-up in terms of the degree of market integration, market structure, regulation and governance features, competition and price setting mechanisms. Target markets for the purpose of this course will include Russian domestic market, Europe, and Asia Pacific. Specific attention will be paid to the relations between Gazprom and other Russian natural gas producing companies.
The aim of the course is to provide students with the understanding of dynamic development of the natural gas markets and to place Russian exports within the wider context.