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The Impact of Liberalization of Natural Gas Markets in the UNECE region--Efficiency and Security

17 March 2012

Liberalization of gas markets is at various stages throughout the 56-country UNECE region. Most countries that have liberalized have done so formally but rarely claim to have reached a satisfactory end state. Liberalization takes time and continuous adjustment of means and goals. But customers, especially wholesale, benefit on prices where liberalization is most advanced. The downside is that gas prices tend to be more volatile and there are fewer possibilities for Governmental control. Liberalization leads to more integration and interconnection, as companies start doing business in neighbouring markets.