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Bourgas-Alexandroupolis oil pipeline; will matching institutional and regulatory contexts lead to an effective bargaining and eventual consensus?

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  • Menegaki, Angeliki N.

Abstract

This paper employs Muthoo's bargaining principles/prerequisites for an effective bargaining result (Muthoo (2000). A Non-Technical Introduction to Bargaining Theory, World Economics 1(2): 145-166) to decide whether Greece and Bulgaria can form a successful energy coalition. Motivation for this is the proposed construction of the crude oil pipeline from the Bulgarian port Burgas to the Greek Aegean port of Alexandroupolis. The reason Turkey is the third country in the analysis despite its current non-membership in this venture, is that: (i) Turkey offers to host a competitive route of the pipeline, (ii) It is a transit, neighboring country to Greece forming an important geopolitical triangle together with Greece and Bulgaria and (iii) co-operates separately with Bulgaria and Greece in other energy pipelines. Therefore, the three countries engage to interwining energy and geopolitical futures. Whether B-A oil pipeline will be implemented or not, will be due to a mix of bargaining procedures. The paper shows that Muthoo's principles/prerequisites for an effective bargaining result, through their constituents (selected economy and energy figures and characteristics), are fulfilled by Greece and Bulgaria. A broader coalition with the inclusion of Turkey might also be permissible and promising based on this theory.

Suggested Citation

  • Menegaki, Angeliki N., 2011. "Bourgas-Alexandroupolis oil pipeline; will matching institutional and regulatory contexts lead to an effective bargaining and eventual consensus?," Energy Policy, Elsevier, vol. 39(3), pages 1277-1285, March.
    • Handle: RePEc:eee:enepol:v:39:y:2011:i:3:p:1277-1285
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    References listed on IDEAS

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    1. Abhinay Muthoo, 2000. "A Non-technical Introduction to Bargaining Theory," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 1(2), pages 145-166, April.
    2. Ganev, Peter, 2009. "Bulgarian electricity market restructuring," Utilities Policy, Elsevier, vol. 17(1), pages 65-75, March.
    3. Omonbude, Ekpen J., 2007. "The transit oil and gas pipeline and the role of bargaining: A non-technical discussion," Energy Policy, Elsevier, vol. 35(12), pages 6188-6194, December.
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    Cited by:

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    4. Angeliki Menegaki, 2018. "The Basic, the Solid, the Site-Specific and the Full or Total Index of Sustainable Economic Welfare (ISEW) for Turkey," Economies, MDPI, vol. 6(2), pages 1-18, April.

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