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Gazprom’s new weakness offers opportunity
Russia can no longer afford Gazprom management’s egregious waste in the current recession
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Overview
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Read This Document
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Papers by Same Organization
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This CASE Network e-brief analyses Gazprom’s current position after the company notoriously turned off the spigot to twenty European countries for two weeks in January 2009 and thus truly established its reputation as an unreliable supplier to its European clients. The author discusses Gazprom’s present management problems:
- the company is expected to suffer a multibillion-dollar loss this year
- with its unwieldy bureaucracy, Gazprom can only produce from giant fields, leaving most secondary and tertiary fields undeveloped
- Gazprom lacks a comparative advantage in the transportation of gas
- Gazprom procures at incomparably excessive prices
According to the e-brief, Gazprom’s only comparative advantage is its control of one-quarter of the world’s gas reserves, which in fact do not belong to the company. Therefore, in author’s view its only true strength is government protection.
In current situation an improved governance of Gazprom is argued to be in Russia’s national interests. Thus, Gazprom’s shareholders and the European Union should come together and reform both the European and Russian gas sectors. The Europeans should take up President Dmitry Medvedev’s recent proposal for a new legal framework on energy cooperation. GDNet originated |
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| An analysis of knowledge-based entrepreneurship in East Central European countries is presented |
| By Woodward, R., 2011 |
| Produced by: Center for Social and Economic Research (CASE), Poland |
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| Countries: Czech Republic, Hungary, Poland, Slovakia |
| Themes: Development Finance & Aid Effectiveness, Domestic Resource Mobilization, Entrepreneurship, Information & Communications Technology (ICT), Private Sector Development, Urban Development and the Global South |
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