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, first of all, little evidence for a prosperous unconventional gas development in Europe. Second, the U.S. boom has already a …
Persistent link: https://www.econbiz.de/10010422070
subsidies, and how changes in Russian gas consumption may affect its gas export to Europe. We also examine the importance of … Russian pipeline capacity to Europe, as well as impacts of hypothetical changes in Russian gas export behavior. For this … purpose, we use a detailed numerical model for the energy markets in Europe and Russia - LIBEMOD. Our results suggest that …
Persistent link: https://www.econbiz.de/10010533092
Gas exports to the Continent are regulated by long term take-or-pay contracts. The contracts are described and analyzed. We thereafter examine whether the most central European gas market, the German market, is integrated. Are there substantial price differences between gas from different export...
Persistent link: https://www.econbiz.de/10009781639
We use a structural VAR model to study the German natural gas market and investigate the impact of the 2022 Russian supply stop on the German economy. Combining conventional and narrative sign restrictions, we find that gas supply and demand shocks have large and persistent price effects, while...
Persistent link: https://www.econbiz.de/10014576948
Producers or consumers faced with an increase in taxes are usually able to shift parts of it to other levels in the value chain. We examine who is actually bearing the burden of increased energy taxes in the EU-area - consumers or exporters. Traditional tax incidence theory presumes spot...
Persistent link: https://www.econbiz.de/10011399311
Although the relationship between natural resources and civil war has received much attention, little is known about the underlying mechanisms. Controversies and contradictions in the stylized facts persist because resource extraction is treated as exogenous while in reality fighting affects...
Persistent link: https://www.econbiz.de/10008732315
In a non-renewable resource market with imperfect competition, both the resource rent and current prices influence a large resource owner's optimal supply. New information regarding future market conditions that affect the resource rent will consequently impact current supply. Bleaker demand...
Persistent link: https://www.econbiz.de/10010229857
Oil and gas company returns are compared between upstream, midstream, and down-stream sectors from 2000 through 2020. Crude oil, natural gas, and distillate returns reflect project risk, infrastructure, and conditions within the industry. Equity, commodity, and distillate markets positively...
Persistent link: https://www.econbiz.de/10013463538
When natural gas prices are subject to periodic decoupling from oil prices, for instance due to peak-load pricing, conventional linear models of price dynamics such as the Vector Error Correction Model (VECM) can lead to erroneous inferences about cointegration relationships, price adjustments...
Persistent link: https://www.econbiz.de/10010486860
This paper investigates the economic value of trade when prices of transportation services are endogenous to cross-market price spreads. This is relevant for liquefied natural gas (LNG) exports. LNG transportation capacity is limited in the short-run, and long lead-times are involved in...
Persistent link: https://www.econbiz.de/10010483579