HEDGE TRANSACTIONS, TAXATION, AND ACCOUNTING IN THE NATURAL GAS TRADE IN THE TURKISH ENERGY SECTOR

Purpose – This paper aims to empirically investigate the motivations behind eco-efficiency sustainability measures of firms active in natural gas exploration and extraction from deep shale formations in the north-eastern USA. Design/methodology/approach – The research design leverages a combination of semi-structured firm interviews with an online industry survey. Instead of pre-defining stakeholder categories, this study uses an emergent analytical framework to ascertain the stakeholder groups relevant to companies in this unconventional energy sector. Findings – Results show that these practices tend to be primarily influenced by internal stakeholders, but that regulatory, community and industry stakeholders also play a role. Managers also assigned a relatively high importance to the role of regulatory and community stakeholders in informing these practices. Research limitations/implications – Though limited in generalizability beyond the energy sector and accounting for rival causal influences beyond stakeholders and managers, the results suggest a close engagement of firms with regulatory and community stakeholders with environmental practices and regulatory framework still in flux. Originality/value – Prior research has not explored the full range of stakeholders relevant in influencing these eco-efficiency practices. Therefore, the authors have a limited understanding whether these practices are primarily internally promoted by firm managers or employees, or whether they are also influenced by industry, community and regulatory constituents. Furthermore, the shale gas industry with recent technological innovations aimed at the core of the business process, presents a rare opportunity to investigate drivers and implementations of eco-efficiency practices.

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The impact of transaction costs on the transformation of the natural gas market of Ukraine

Ekonomìka ì prognozuvannâ ◽

10.15407/eip2019.03.060 ◽

2019 ◽

Vol 2019 (3) ◽

pp. 60-77

Author(s):

Roman Yukhymets

Keyword(s):

Natural Gas ◽

Transaction Costs ◽

Institutional Environment ◽

Energy Sector ◽

Transformation Process ◽

Third Party ◽

Free Access ◽

Natural Gas Market ◽

Gas Market ◽

The Impact

The desire to integrate into the European development model stipulated that Ukraine voluntarily assumed international commitments about transformation of the institutional environment according to the European model. The level of political awareness of the content of the necessary changes and how to achieve a systemic balance of reforming different sectors was often declarative in the absence of any sound estimates, including the implications for different economic actors. However, the need to reform the energy sector was determined not only by international obligations, but also by the presence of domestic problems, which over time without the application of systemic changes would become barriers to the entire further economic development of Ukraine. The main content of the implementation of European directives in the energy sector was just intended to systematically transform market relations by changing the rules of market functioning, which was supposed to solve the main crisis problems in various areas of the energy sector. The recent model of Ukrainian natural gas market was featured by all the shortcomings of the pre-reformed state of European markets: the tariff system did not promote rational consumer behavior, which exacerbated the pressure on the state budget; the delivery rules did not guarantee the proper quality of service; the absence of investment in the gas transportation sector made it impossible to expand fixed assets; the established transport and distribution rules became a barrier to free access to third-party networks and the development of competition in the supply segment. The actual implementation of the Second and Third Energy Package standards in the functioning of the national market of the natural year began in 2015, with the adoption of the Law on the Natural Gas Market. Today, an urgent task remains to estimate the process of reforming the natural gas market and to efficiently solve those crisis phenomena that caused the distortion of the institutional environment of the natural gas market. Since the accumulated problems of the previous model of the natural gas market were due to the inefficiency of the institutions, the article attempted to evaluate the effectiveness of the gas sector transformation process and analyze the impact of changes in certain market segments from the perspective of neoinstitutional theory and study the level of transaction costs.

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The Perspective of the Trilateral Cooperation Between Ukraine, Romania and Moldova in the Field of Energy

Історико-політичні проблеми сучасного світу ◽

10.31861/mhpi2018.37-38.296-301 ◽

2018 ◽

pp. 296-301

Author(s):

Elvira Senic

Keyword(s):

Natural Gas ◽

Energy Security ◽

Electricity Consumption ◽

Energy System ◽

Energy Sector ◽

Development Economic ◽

Second Phase ◽

Investment Projects ◽

The Republic ◽

Unique Source

Ensuring energy security is one of the priority objectives on the Ukrainian-Romanian-Moldovan dimension. Undeniable is the fact that the energy situation în these three countries differs considerably. But the need for cooperation is evident and caused by our countries' aspirations for sustainable development, economic growth and the welfare of the population în the region. The Republic of Moldova is a net importer of energy, the natural gas purchased from a unique source representing the major fuel source. Much of the country's electricity consumption is covered by imports from Ukraine. The bilateral relations of cooperation between Romania and Moldova în the energy sector refer în particular to the practical realization of the interconnection investment projects în the natural gas segment through the second phase of the Iasi-Ungheni gas pipeline to Chisinau, as well as on the electricity segment. Achieving projects to connect to the EU energy system would create an efficient energy security network for all states în the area and favorable conditions for the multifunctional development of the economy of all countries în the region. Keywords: trilateral relationships, energy sector, donor, energy consumer

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Kuwait energy sector expansion will hit obstacles

Emerald Expert Briefings ◽

10.1108/oxan-db206688 ◽

2015 ◽

Keyword(s):

Saudi Arabia ◽

Natural Gas ◽

Crude Oil ◽

Production Capacity ◽

Oil Prices ◽

Energy Sector ◽

Global Market ◽

Oil Refinery ◽

Content Type ◽

Crude Oil Production

Subject Prospects for Kuwait's energy sector expansion Significance Despite falling revenue because of the slump in global oil prices Kuwait is embarking on two ambitious energy ventures: constructing what will be the region's largest new oil refinery and increasing crude oil production capacity by more than 1 million barrels per day (b/d) by 2020. Impacts Increased oil output capacity will bolster Kuwait' s effort to retain market share in an over-supplied global market. Kuwait is emulating Saudi Arabia in integrating its refining and petrochemical sectors, though diversification will lag. Kuwait will incur Saudi displeasure by developing closer ties with post-sanctions Iran, a possible supplier of new natural gas supplies.

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Natural Gas and the Transformation of the Energy Sector in The Netherlands / Gaz Ziemny A Transformacja Sektora Energii W Holandii

Archives of Mining Sciences ◽

10.2478/amsc-2013-0055 ◽

2013 ◽

Vol 58 (3) ◽

pp. 789-804

Author(s):

Paweł Frączek ◽

Maciej Kaliski ◽

Paweł Siemek

Keyword(s):

Natural Gas ◽

The Netherlands ◽

Energy Policy ◽

Primary Energy ◽

Energy Sector ◽

Energy Sources ◽

Transition Management

Abstract The aim of this paper is to discuss the conditions for the modernization of the energy sector in the Netherlands following the discovery of natural gas deposits in the country and a rapidly growing importance of this fuel. Hence the paper presents the essence of the model of transition management in the energy sector. It also shows the nature of changes in the structure of primary energy sources in the Netherlands and the decisive factors that led to the prominent role of natural gas in this country. These considerations formed the basis for discussion on the contemporary energy policy in the Netherlands.

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