In the Wake of Sakhalin II: How Non-Governmental Administration of Natural Resources Could Strengthn Russia's Enery Sector
Russia’s economically vital oil and gas industry is at a crossroads. Although foreign investment favored European nations in the wake of the Soviet collapse, in recent years American and European oil and gas companies have invested billions of dollars in Russia’s energy development and export distri...
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ftuwashingtonsl:oai:digitalcommons.law.uw.edu:wilj-1445 2023-05-15T18:08:56+02:00 In the Wake of Sakhalin II: How Non-Governmental Administration of Natural Resources Could Strengthn Russia's Enery Sector Bamberger, Nowell David Beckett 2007-06-01T07:00:00Z application/pdf https://digitalcommons.law.uw.edu/wilj/vol16/iss3/5 https://digitalcommons.law.uw.edu/cgi/viewcontent.cgi?article=1445&context=wilj unknown UW Law Digital Commons https://digitalcommons.law.uw.edu/wilj/vol16/iss3/5 https://digitalcommons.law.uw.edu/cgi/viewcontent.cgi?article=1445&context=wilj Washington International Law Journal Comparative and Foreign Law Oil Gas and Mineral Law text 2007 ftuwashingtonsl 2022-05-30T16:18:04Z Russia’s economically vital oil and gas industry is at a crossroads. Although foreign investment favored European nations in the wake of the Soviet collapse, in recent years American and European oil and gas companies have invested billions of dollars in Russia’s energy development and export distribution sectors. However, the 2006 restructuring of the $20 billion Sakhalin II project demonstrates that Russia’s energy sector has still not stabilized from the turbulent privatization of the 1990s. This comment explores the legal structures and Government policies affecting Russia’s oil and gas industry for evidence of the causes of institutional instability. It argues that to prevent political and business elites from continuing to manipulate the country’s most profitable industry, Russia’s energy resources should be administered by an independent entity, a Public Leasing Authority. By creating a new institution with transparent motives, Russia may be able to remove the historic temptation to use economic regulation to accomplish short-term political goals and thereby enhance the stability of its energy sector and its larger economy. Text Sakhalin UW Law Digital Commons (University of Washington) |
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UW Law Digital Commons (University of Washington) |
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Comparative and Foreign Law Oil Gas and Mineral Law |
spellingShingle |
Comparative and Foreign Law Oil Gas and Mineral Law Bamberger, Nowell David Beckett In the Wake of Sakhalin II: How Non-Governmental Administration of Natural Resources Could Strengthn Russia's Enery Sector |
topic_facet |
Comparative and Foreign Law Oil Gas and Mineral Law |
description |
Russia’s economically vital oil and gas industry is at a crossroads. Although foreign investment favored European nations in the wake of the Soviet collapse, in recent years American and European oil and gas companies have invested billions of dollars in Russia’s energy development and export distribution sectors. However, the 2006 restructuring of the $20 billion Sakhalin II project demonstrates that Russia’s energy sector has still not stabilized from the turbulent privatization of the 1990s. This comment explores the legal structures and Government policies affecting Russia’s oil and gas industry for evidence of the causes of institutional instability. It argues that to prevent political and business elites from continuing to manipulate the country’s most profitable industry, Russia’s energy resources should be administered by an independent entity, a Public Leasing Authority. By creating a new institution with transparent motives, Russia may be able to remove the historic temptation to use economic regulation to accomplish short-term political goals and thereby enhance the stability of its energy sector and its larger economy. |
format |
Text |
author |
Bamberger, Nowell David Beckett |
author_facet |
Bamberger, Nowell David Beckett |
author_sort |
Bamberger, Nowell David Beckett |
title |
In the Wake of Sakhalin II: How Non-Governmental Administration of Natural Resources Could Strengthn Russia's Enery Sector |
title_short |
In the Wake of Sakhalin II: How Non-Governmental Administration of Natural Resources Could Strengthn Russia's Enery Sector |
title_full |
In the Wake of Sakhalin II: How Non-Governmental Administration of Natural Resources Could Strengthn Russia's Enery Sector |
title_fullStr |
In the Wake of Sakhalin II: How Non-Governmental Administration of Natural Resources Could Strengthn Russia's Enery Sector |
title_full_unstemmed |
In the Wake of Sakhalin II: How Non-Governmental Administration of Natural Resources Could Strengthn Russia's Enery Sector |
title_sort |
in the wake of sakhalin ii: how non-governmental administration of natural resources could strengthn russia's enery sector |
publisher |
UW Law Digital Commons |
publishDate |
2007 |
url |
https://digitalcommons.law.uw.edu/wilj/vol16/iss3/5 https://digitalcommons.law.uw.edu/cgi/viewcontent.cgi?article=1445&context=wilj |
genre |
Sakhalin |
genre_facet |
Sakhalin |
op_source |
Washington International Law Journal |
op_relation |
https://digitalcommons.law.uw.edu/wilj/vol16/iss3/5 https://digitalcommons.law.uw.edu/cgi/viewcontent.cgi?article=1445&context=wilj |
_version_ |
1766181325682769920 |