Final destination clauses
Article from: OGEL 5 (2004), in Energy Union, EU Energy
Introduction
The European gas market has been traditionally organised around an oligopoly of producer-exporter (e.g. Sonatrach, Gazprom, Statoil, Gasunie) on one side, and an oligopsony of buyers on the other. The latter consists of the major European gas companies, which have also benefited from monopoly or quasi-monopoly positions on their national markets. Relations between the production oligopoly and the national import monopolies have until now been based on long-term take-or-pay contracts of 20-25 years duration. These contracts have always been regarded as necessary requirements for ...