UCL Discovery
UCL home » Library Services » Electronic resources » UCL Discovery

The profitability of transnational energy infrastructure: A comparative analysis of the Greenstream and Galsi gas pipelines

Cardinale, R; (2019) The profitability of transnational energy infrastructure: A comparative analysis of the Greenstream and Galsi gas pipelines. Energy Policy , 131 pp. 347-357. 10.1016/j.enpol.2019.03.040. Green open access

[thumbnail of Cardinale_The profitability of transnational energy infrastructure. A comparative analysis of the Greenstream and Galsi gas pipelines_AAM.pdf]
Preview
Text
Cardinale_The profitability of transnational energy infrastructure. A comparative analysis of the Greenstream and Galsi gas pipelines_AAM.pdf - Accepted Version

Download (3MB) | Preview

Abstract

This paper explores how the profitability of European transnational gas infrastructure is affected by (i) alternative ways to organize the gas supply chain; and (ii) different forms of energy diplomacy. In particular, through a case study, the paper analyses how these factors determined the realisation and success of the Greenstream pipeline and the stalemate of the Galsi pipeline, despite the potential for both projects to be profitable. The issue is important in view of the full transition to the EU Single Market, of which unbundling and privatisation are policy pillars. In fact, before the transition, vertical integration in the foreign upstream and energy diplomacy were key elements for infrastructure profitability. The paper argues that these elements are still important, as constraints to gas procurement and binding contractual relations with producers have not changed substantially. Nevertheless, securing those advantages within the EU Single Market framework requires significant innovations. In particular, the paper suggests forms of EU energy diplomacy, based on bilateral trade deals, which could achieve forms of vertical integration for energy firms as well as help EU and non-EU counterparts align their interests. This paper may prove particularly relevant for the recent debate on how to shape EU energy diplomacy.

Type: Article
Title: The profitability of transnational energy infrastructure: A comparative analysis of the Greenstream and Galsi gas pipelines
Open access status: An open access version is available from UCL Discovery
DOI: 10.1016/j.enpol.2019.03.040
Publisher version: https://doi.org/10.1016/j.enpol.2019.03.040
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: Transnational gas infrastructure profitability, Vertical integration, Unbundling, Energy diplomacy, EU Single Market, Energy security
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett Sch of Const and Proj Mgt
URI: https://discovery.ucl.ac.uk/id/eprint/10075532
Downloads since deposit
335Downloads
Download activity - last month
Download activity - last 12 months
Downloads by country - last 12 months

Archive Staff Only

View Item View Item