Russia has supplied natural gas to Europe reliably for nearly four decades. But recent changes in Russian behaviour and policy, combined with EU-driven regulatory changes, have created a state of flux, and considerable concern in Europe. I address the question of possible Russian hegemony in European gas relations, and ask whether Moscow’s ambitions represent a security threat to Europe. Positioning these questions within the context of a European natural gas regime (NGR), I take a historical-comparitive approach, dividing the evolution of the NGR into three phases. Phase one moves from the origin of the cross-border trade in Europe in the 1960s to the 1991 Soviet dissolution; phase two explores the turbulent post-Soviet decade to 1999; and phase three addresses the era of Vladimir Putin from 2000 to 2010. For each phase, I assess hegemony by drawing on regime concepts offered by Alt et al, which I modify for application to the idiosyncratic realm of natural gas. The evidence suggests that Germany, not Russia, is more appropriately considered hegemonic, having acquired gas influence in the 1970s that it has not relinquished. However, there are also indications that a German-Russian ‘co-hegemony’ could be developing, characterized by disproportionate Russian influence in Central Europe, giving rise to possible tension between EU values, governance and responsibilities on one hand, and Russian influence associated with co-hegemony on the other. Despite this, I suggest that Russian aspirations constitute no imminent security threat to Europe – European gas actors are well entrenched, and Moscow faces strong disincentives to threaten its European buyers. ‘Co-hegemony’ could challenge the regime’s integrity, but evidence to date suggests that the EU and Gazprom prefer patience and compromise to brinkmanship, and that actor interest in maintaining the flow of gas suggests greater optimism than dread. ‘Security’ is therefore not as sound as it would be if Russia were an EU member or if it had ratified the Energy Charter Treaty, but emerging dynamics do not suggest imminent peril either. I conclude by discussing possible directions for future research. / A regime-based exploration of Euro-Russian gas dynamics, with attention to the new profile of Russia in the relationship and the limits of its coercive ability.

Adotando os conceitos da Nova Economia Institucional (NEI) e de sua vertente, a teoria da Economia dos Custos de Transação (ECT), apresenta-se, neste trabalho, uma discussão sobre o ambiente institucional brasileiro para o setor de exploração e produção (E&P) de petróleo e gás natural, sua regulação e caracterização. Discute-se as especificidades relativas às condições de desenvolvimento das atividades em campos de petróleo considerados maduros e/ou marginais, que constituem a maior parte das bacias brasileiras conhecidas em terra. O trabalho defende que este segmento de atividades de E&P requer um tratamento diferenciado em termos de regulação e outras políticas públicas, visando privilegiar a entrada de novos agentes e aumentar seu dinamismo no longo prazo. Contrapondo ao ambiente institucional nacional, optou-se por estudar o desenvolvimento das atividades onshore no Texas. Assim, estabelece-se comparações entre as duas realidades com relação à sua regulamentação, programas de incentivos, estrutura industrial, histórico de atividades e, principalmente, em relação à ação dos respectivos órgãos reguladores, a Agência Nacional de Petróleo, Gás Natural e Biocombustíveis (ANP), pelo Brasil, e a Texas Railroad Commission (TRC), pelo Texas. A experiência da TRC no setor petroleiro texano, cujas características presentes, por se tratar de campos produtores de petróleo maduros, possuem certa similaridade com os campos em terra no Brasil, revela uma série de direções para o aprimoramento da regulação petroleira brasileira no sentido de promover suas atividades onshore. / By Adopting the New Institutional Economics (NIE), and the theory of Transaction Cost Economics (TCE), this work discuss about the Brazilian institutional environment for oil and natural gas exploration and production (E&P), the regulation and main features. This study discusses the specificities related to the development of onshore activities on mature and/or marginal oil and gas fields. These areas are the majority on the Brazilian developed onshore segment. The Thesis sustains that such a segment of E&P activities needs a special treatment in terms of regulation and other public policies, aiming at to improving the entrance of new players in the sector and its long-term growing. For a comparative analysis, the study of the onshore activities development in Texas provides important insights to understand and criticize de Brazilian situation. The Thesis compares both realities in terms of the regulation and incentives programs, industrial structure, history of activities as well as the main role players by the respective Oil and Gas Regulator, the National Petroleum Agency (ANP) in Brazil, and the Texas Railroad Commission (TRC) in Texas. TRC’s long experience in regulating Texas’ onshore oil and gas activities, whose present situation has similarities regarding to the Brazilian onshore areas (by their maturity), reveals a series of paths to improve Brazil’s oil and gas regulation and boost its onshore activities.

Adotando os conceitos da Nova Economia Institucional (NEI) e de sua vertente, a teoria da Economia dos Custos de Transação (ECT), apresenta-se, neste trabalho, uma discussão sobre o ambiente institucional brasileiro para o setor de exploração e produção (E&P) de petróleo e gás natural, sua regulação e caracterização. Discute-se as especificidades relativas às condições de desenvolvimento das atividades em campos de petróleo considerados maduros e/ou marginais, que constituem a maior parte das bacias brasileiras conhecidas em terra. O trabalho defende que este segmento de atividades de E&P requer um tratamento diferenciado em termos de regulação e outras políticas públicas, visando privilegiar a entrada de novos agentes e aumentar seu dinamismo no longo prazo. Contrapondo ao ambiente institucional nacional, optou-se por estudar o desenvolvimento das atividades onshore no Texas. Assim, estabelece-se comparações entre as duas realidades com relação à sua regulamentação, programas de incentivos, estrutura industrial, histórico de atividades e, principalmente, em relação à ação dos respectivos órgãos reguladores, a Agência Nacional de Petróleo, Gás Natural e Biocombustíveis (ANP), pelo Brasil, e a Texas Railroad Commission (TRC), pelo Texas. A experiência da TRC no setor petroleiro texano, cujas características presentes, por se tratar de campos produtores de petróleo maduros, possuem certa similaridade com os campos em terra no Brasil, revela uma série de direções para o aprimoramento da regulação petroleira brasileira no sentido de promover suas atividades onshore. / By Adopting the New Institutional Economics (NIE), and the theory of Transaction Cost Economics (TCE), this work discuss about the Brazilian institutional environment for oil and natural gas exploration and production (E&P), the regulation and main features. This study discusses the specificities related to the development of onshore activities on mature and/or marginal oil and gas fields. These areas are the majority on the Brazilian developed onshore segment. The Thesis sustains that such a segment of E&P activities needs a special treatment in terms of regulation and other public policies, aiming at to improving the entrance of new players in the sector and its long-term growing. For a comparative analysis, the study of the onshore activities development in Texas provides important insights to understand and criticize de Brazilian situation. The Thesis compares both realities in terms of the regulation and incentives programs, industrial structure, history of activities as well as the main role players by the respective Oil and Gas Regulator, the National Petroleum Agency (ANP) in Brazil, and the Texas Railroad Commission (TRC) in Texas. TRC’s long experience in regulating Texas’ onshore oil and gas activities, whose present situation has similarities regarding to the Brazilian onshore areas (by their maturity), reveals a series of paths to improve Brazil’s oil and gas regulation and boost its onshore activities.

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