FATORES INDUTORES E BARREIRAS PARA O COMÉRCIO DE GÁS NATURAL NO CONE SUL

Abstract

This article analyses the driving forces and the obstacles for the natural gas trade in the Mercosur Area. The paper shows the new context of the energy markets in the region, emphasising the driving factors for the energy integration: the presence of "global players"; the business convergence between gas and electricity industries; and the disparity of gas resources in Mercosur's countries. Main obstacles for regional gas trade are analysed. The paper points that transaction costs in the gas industry are high and the economic context of the Mercosur zone aggravates these transaction costs. Regarding the economic context of the region, the impacts of two main problems are analysed: the exchange rate volatility and the energy regulatory asymmetry. The last section of the paper analyses the possible contributions from the governments and companies, in order to reduce risks for the regional gas trade.