E3S Web Conf.
Volume 161, 2020International Conference on Efficient Production and Processing (ICEPP-2020)
|Number of page(s)||5|
|Published online||15 April 2020|
Ordoliberal theory and gas market in Germany within the framework of international energy cooperation
1 Doctor of economic Sciences, chair professor «Finance and Credit», the Sevastopol state university, Sevastopol
2 Financial University under the Government of the Russian Federation, Moscow
* Corresponding author: firstname.lastname@example.org
German economic policy is a special model of a coordinated market economy, which is based on the tradition of ordoliberalism. This theoretical concept is at the core of the regulation of most economic processes in Germany, and its energy markets are no exception. The article analyses the present state of German gas industry, its transformation in connection with the introduction of the Third Energy Package, the liberalization and development of gas projects. The authors compare the main results of the reforms and the stipulations of the ordoliberal theory. The conclusion is that the German government generally upholds this concept, although sometimes the consequences are of negative nature, manifested in rising prices, added complexity of international natural gas trade, especially with the largest supplier – the Russian Federation. Using the Bertrand competition model, the article justifies the conditions under which the export of liquefied natural gas is beneficial for the Russian Federation.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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