FISCAL POLICY IN THE NATURAL GAS SECTOR: AN OPTIMIZATION APPROACH

摘要

The second biggest and the most complex domestic natural gas market in the world is experiencing numerous structural reforms. The opening of the market to competition, price liberalization and attempts to create gas spot exchange and open to third parties the gas transport system, owned by historical producer and operator, have reshaped the organization of the Russian gas industry, facing now economic and political challenges, and questioned the strategy of the main natural gas producer. The reforms ongoing in a country, which represents 17% of the world gas production1 and maintains the position of the biggest gas exporter, might have significant impact on the global natural gas market.