Political Risk

 Political Risk Research Conventional paper

Eini Laaksonen Political hazards of foreign direct investment in the Russian gas industry – The Shtokman gas field task in the Arctic Ocean Electronic Publications of Pan-European Commence 14/2010

ISSN 1795 -- 5076

Political risks of foreign direct investment inside the Russian gas industry – The Shtokman gas discipline project in the Arctic Marine

Eini Laaksonen1

14/2010 Electronic digital Publications of Pan-European Company www.tse.fi/pei

one particular

Eini Laaksonen is Study Associate at the Pan-European Institute at the Turku School of Economics, University of Turku. Her study interests incorporate political risks for overseas direct expense particularly in the Russian Arctic and the general investment conditions of St Petersburg and Murmansk place.

Eini Laaksonen

PEI Digital Publications 14/2010 www.tse.fi/pei

Items EXECUTIVE SUMMARY 1

1 ) 1 1 ) 2 1 . 3 1 . 4 1 . 5

6 7

several 12 twenty 23 twenty-eight

THE RUSSIAN GAS MARKET AND PERSONAL RISK

The Russian gas production plus the Arctic gas resources Activities of political risk in Russia The Shtokman gas field task Earlier research on personal risk in Russia The objective and structure of the research

2

installment payments on your 1 installment payments on your 2 2 . 3 installment payments on your 4 2 . 5

POLITICS RISK

The idea of political risk Macro options for political risk Micro options for political risk Effects of politics risk upon business The political risk construct to get a gas field project

31

30 thirty four 39 47 51

a few 4

4. 1 four. 2 some. 3 4. 4 some. 5 four. 6

RESEARCH DESIGN PERSONAL RISK INSIDE THE SHTOKMAN TASK

Macro-level sources Industry-level options Company-level resources Project-level options Effects of political risk upon business The main empirical conclusions

58 63

63 sixty-eight 75 seventy nine 81 87

5

your five. 1 a few. 2 a few. 3 five. 4

FINDINGS

Theoretical implications Political risk in the Shtokman project The future development of the Shtokman field Limitations and suggestions for even more research

91

91 90 104 108

2

Eini Laaksonen

PEI Electronic Guides 14/2010 www.tse.fi/pei

REFERENCES BOUT

Appendix you Appendix a couple of Appendix 3 Appendix four Appendix five Appendix six Proved natural gas reserves Russian oil and natural gas at a glance Maritime jurisdiction and limitations in the Arctic region Summary of previous studies about political risk in Spain The key factors in analysing political hazards in oil and gas industry The interview inquiries

110 117

117 118 119 one hundred twenty 122 123

3

Eini Laaksonen

PEI Electronic Magazines 14/2010 www.tse.fi/pei

Tables

Stand 1 Desk 2 Desk 3 Desk 4 Desk 5 Desk 6 Activities of PSAs in Russia Robock's conceptual framework for political risk The macro political risk construct A political risk framework A micro politics risk assessment model The operationalisation table for assessing macro political risk in the case of Shtokman job 19 33 34 thirty seven 40

62

Figures

Number 1 Physique 2 Number 3 The structure in the research Mini vs . macro political risk Evaluation of political hazards of a international investment access decision procedure The politics risk build for a overseas direct purchase into a gas field job The main scientific findings from the research The political risk construct for any foreign direct investment inside the Shtokman gas field job A fictional computation of the Shtokman field's revenue with different gas prices Elements affecting the introduction of the Shtokman gas discipline project up to 29 31

49

Figure some

53 fifth 89

Figure 5 Figure six

99

Determine 7

103 105

Determine 8

4

Eini Laaksonen

PEI Electronic Publications 14/2010 www.tse.fi/pei

Short-hand

BOP BP CIS EUROPEAN UNION FDI FSB IMF LNG NAFTA CONNATURAL PSA EL USA USD USSR WTO WWF Equilibrium of repayments British Petroleum The Earth of Impartial States The European Union Foreign direct investment The Federal Protection Service from the Russian Federation The Foreign Monetary Pay for Liquefied gas The American Free Trade Agreement The North Ocean Treaty Corporation Production sharing agreement The United...

References: PEI Digital Publications 14/2010 www.tse.fi/pei

BO (2010a) Gazprom seeks fresh leader of Shtokman Advancement

BP

Statistical Review of Globe Energy (2009) June 2009

E& G

Economist (2009) The seek out shale gas in The european countries: bubbling below

FT

(2010)

PEI Electronic Publications 14/2010 www.tse.fi/pei

Koivurova, Timo (2010) Tausta: Mitä Norja ja Venäjä lopulta sopivat rajakiistassaan? YLE

NE (2010) Gazprom game player: Hello Yamal, goodbye Shtokman. New European countries. Issue 871, January 23, 17. NSIDC (2009) What is the Arctic? National Snow and Ice Data Center., retrieved 11. 9. 2009.

PEI Electric Publications 14/2010 www.tse.fi/pei

NYT (2006b) Layer cedes charge of Sakhalin-2 to Gazprom

RFE (2007) Russian federation: BP-TNK, Gazprom, and the Kovytka gas field. Radio Cost-free Europe., recovered 7. 4. 2010. RIA (2006) Easy come, convenient go: Covering and Sakhalin. RIA Novosti., retrieved 2 . 11. 2009.

Statoil (2009) Corporate Announcement., retrieved 19. 4. 2010. StatoilHydro Total annual Report (2008), retrieved nineteen. 4. 2010. Putin requires hard collection on Covering Sakhalin argument. Times Online., retrieved 2 . 11. 2009.

TO

(2006)

TO (2007) Gazprom will take aim at Exxon in struggle against international ownership. Moments Online., recovered 6. some. 2010.

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