Energy is a key resource for transformational development globally. Oil and gas continue to play a key role in this sector irrespective of the gradual transition towards renewables and will continue to do so in most developing and emerging economies in the near future. The industry is complex and highly capital intensive not only with significant risk, but also with significant benefits. Such a complex but important sector is generally not well understood both in academic and policy circles. This book fills this void by serving as a comprehensive reference to the oil and gas sector, with a focus on emerging markets and developing economies (EMDEs). It offers in-depth coverage of the critical and contemporary issues in the economics of the oil and gas industry by carefully integrating the relevant theoretical underpinnings and practical policy issues across the value chain of the industry in relation to the development, fiscal arrangements, and the economic and financing aspects of the industry. These insights will significantly deepen the understanding of the industry and extend knowledge of the sector in ways that existing books do not. The book includes relevant cases and, thus, will serve as a valuable resource for students taking courses in market analysis of the oil and gas industry, energy economics, development economics and finance, environmental and resource economics, the political economy of the extractive industry, and development studies. Researchers and practitioners working in these areas will also find the book to be a useful reference guide.

This book explores the economic challenges involved in managing hydrocarbon wealth in the Caspian region, and looks at how to design an optimal energy policy. The book draws on the Author's experience in dealing with the governments of the region, and her knowledge of the role of major companies in the area.

In recent years, natural gas has become a major source of energy, with trade across borders increasing through both pipelines and as Liquefied Natural Gas (LNG). Owing to this global development, this book traces the development of the gas supply industry, from localised to national industries and national industries to a major global industry. It looks at the basic economics and origins of the industry, as well as the role of the government in its development and relation to international markets. The book highlights certain economic characteristics such as the industry’s vertical and horizontal structure, the composition of consumer demand and the role of government in safety, planning and investment. With the understanding of the industry's long term development, the book helps to illustrate the relationship between natural gas producers and importers of LNG. This book would be of interest to scholars majoring in resource economics and energy economics, as well as to international practitioners in the natural gas market.