This article examines the political economy of foreign direct investment in the Russian oil and gas industry in order to explain the limited role of foreign capital in this sector. There are three forms of foreign direct investment in the Russian oil and gas industry: (1) joint ventures, (2) investment within the framework of a production sharing agreement (PSA) and (3) foreign equity investment. The development of these three forms of foreign direct investment is analysed with special reference to the interests of the parties involved, before a conclusion on the political factors determining the conditions for foreign investment is made.
a b s t r a c tThe decades-long struggle for control over oil and natural gas resources, infrastructure and influence in the Caspian region has been referred to as the 'New Great Game', with Europe, China, the US and Russia typically cited as the main combatants. We explore recent developments and aver that, if present trends continue, Europe will have access to Azerbaijan's resources, China to those of the East Caspian states, the US will stay commercially and strategically engaged, and Russia's influence will (continue to) diminish. How did this unexpected turn of events arise? We examine China's dominance and argue that the foreign policies of the US and Russia e within the region and even further abroad e have inadvertently driven the East Caspian states and China towards each other. Wary of potential maritime chokepoints in the Pacific, China feels strongly compelled to shore up resources and influence in the Caspian region. In part because of Russia's intransigence regarding the Caspian Sea's status, the East Caspian states e faced with constrained access to the West e have turned to China as an alternative market and counterbalance to Russia.
Ost-und Südosteuropaforschung Zentrum für Osteuropa-und internationale Studien (ZOiS) gGmbH Forschungsstelle Osteuropa an der Universität Bremen ■ ■ ANALYSE Russische Infrastrukturprojekte auf der Krim-eine Bestandsaufnahme 2 Von Julia Kusznir (Bremen) ■ ■ TABELLE ZUM TEXT Bedeutende Infrastrukturprojekte auf der Krim 6 ■ ■ ANALYSE Donbass: Sind die »Volksrepubliken« Marionettenstaaten? 7 Von Nikolaus von Twickel (Berlin) ■ ■ DOKUMENTATION Die OSZE zum bewaffneten Konflikt in der Ostukraine 10 Die UNO zur humanitären Lage in der Ostukraine 10 Aktuelle Entwicklung in den »Volksrepubliken« der Ostukraine 11 Kampfhandlungen und Düsternis-Übersetzerbuchpreis für Donbass-Roman 14 ■ ■ DEKODER Krim 15 Von Gwendolyn Sasse (Zentrum für Osteuropa-und internationale Studien, Berlin)
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