Examines the integration into Central Asian energy law of the principles of demonopolization, price deregulation, non-discriminatory access to the network and regulatory independence. The analysis seeks to determine the extent to which the Central Asian energy market structure was effectively reorganized on the basis of these textbook principles. The failure to create a competitive market environment is ultimately attributed to formal and informal institutional constraints, including Soviet energy policy legacies and the readiness of foreign (e.g., Chinese and Russian) investors to invest without any tangible evidence of commitment to reform.