The Governance of Energy Megaprojects:Politics, Hubris and Energy Security.
Publication Type:Journal Articles
Source:Current Science, CURRENT SCIENCE ASSOCIATION, Volume 106, Number 7, p.1017–1018 (2014)
The book under review attempts to answer the question why is it that most energy megaprojects seem to fail. An energy megaproject is defined (arbitrarily) as one that involves at least US$ 1 billion of capital investment and a geographical scale encompassing at least three countries. The authors base their arguments and conclusions on four case studies in Asia ? a completed and operational oil pipeline in Azerbaijan, Georgia and Turkey that cost US$ 4.6 billion; a natural gas pipeline about half completed in Southeast Asia expected to cost US$ 40 billion if and when completed; a hydroelectric network being built in Sarawak (Malaysia), but expected to be interconnected with Brunei, and Kalimantan (Indonesia) and expected to cost US$ 105 billion; and a proposed large-scale solar array estimated to cost US$ 550 billion connecting Mongolia, China, North Korea, South Korea and Japan. This last project is still in the planning stages; no financing has been approved and no construction has begun.
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