Download Cross-border Oil and Gas Pipelines and the Role of the by Ekpen James Omonbude PDF

By Ekpen James Omonbude

With widespread discoveries of power assets in distant and undeveloped components, the significance of transnational oil and fuel pipelines is decided to develop ever extra fashionable. This research dissects the international relations fascinated about cross-border strength transportation. Omonbude offers a different research of the shifts in bargaining powers, and the more and more strong position performed via the transit state in pipeline agreements. His learn bargains basic insights into the opportunity of gift mechanisms for transit nations, which might considerably lessen the potential of pipeline disruptions in the course of operation.

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Additional resources for Cross-border Oil and Gas Pipelines and the Role of the Transit Country: Economics, Challenges and Solutions

Example text

The £490,000 in the illustration) could be taken away without affecting his behaviour or altering the performance of the economy. Some factors are fixed in the short run and become variable in the long run. Quasi-rents are payments to factors of which there is a fixed supply in the short run. Quasi-rents are a residual payment. Fixed inputs cannot be withdrawn from their present use in the short run, while variable inputs can move to alternative uses where there are higher returns. Therefore, these variable inputs are paid their opportunity cost, and what is left (residual payment) is paid to the fixed input.

The inside option for the transit country is also straightforward, and as such does not require further discussion. It is the potential benefit that will accrue to it either in the form of the transit fee or as off-take volumes for domestic use (or both). Options for the producer country The obvious outside option available to the producer country is an alternative transit route. As discussed in Chapter 2, in relation to the implications of pipelines as natural monopolies, the ability of the producer country to exercise this outside option is heavily dependent on the economic viability of the alternative pipeline route.

Indd 33 10/12/2012 10:07:19 PM 34  These factors would directly or indirectly influence a number of decisions, such as the pipeline route and project lifespan (based on reserve size calculations), and are also factors in the determination of the costs of the project. Exploration and production (E and P) costs become unclear and uncertain only if the exploration venture is unsuccessful; 9 out of 10 such ventures are (Johnston, 1994: 6). However, this study assumes that E and P is successful and that the oil or gas is available for transportation to the market via pipeline.

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