The US and UK markets for natural gas are connected by arbitrage activity in the form of shifting trade volumes of liquefied natural gas (LNG). We empirically investigate the degree of integration between the US and the UK gas markets by using a threshold cointegration approach that is in...

In this study, the informational efficiency of the European natural gas market is analyzed by empirically investigating price formation and arbitrage efficiency between spot and futures markets. Econometric approaches are specified that explicitly account for nonlinearities and the low...

In 2007, Germany changed network access regulation in the natural gas sector and introduced a so-called entry-exit system. The re-regulation’s spot market effects remain to be examined. We use cointegration analysis and a state space model with time-varying coefficients to study the...

Supply shocks in the global gas market might affect countries differently since the market is regionally interlinked but not perfectly integrated. Additionally, high supply side concentration might expose countries to market power in different ways. To evaluate the strategic position of...

A model of the global gas market is presented which in its basic version optimises the future development of production, transport and storage capacities as well as the actual gas ows around the world assuming perfect competition. Besides the transport of natural gas via pipelines also the...

Due to the increasing European import dependency, significant additional natural gas volumes will be required. In addition to the Nord Stream pipeline, the Nabucco and South Stream pipeline are projects planned for the next decade to provide further gas supplies to the European market. As one of...

Der Erdgasverbrauch in Europa wird den meisten Prognosen zufolge in den kommenden Jahren weiterhin zunehmen. Da die heimischen Förderungen der meisten europäischen Staaten sich im Abschwung befinden und viele traditionelle Lieferanten bereits ihren Zenit erreicht haben, muss zwangsläufig auf...

Der wachsende europäische Erdgasbedarf kann in Zukunft von einer deutlich höheren Anzahl von Anbietern als in der Vergangenheit bedient werden, die bedingt durch den technischen Fortschritt in der Förderung und im Transportbereich für Europa relevant geworden sind. Diese Ausweiterung der...

Die weltweiten Erdgasmärkte befinden sich im Wandel. In diesem Arbeitspapier werden im Rahmen einer Bestandsaufnahme der aktuelle Stand dieses Prozesses sowie einige Erklärungsansätze diskutiert. Das Papier fokussiert sich dabei auf die Bereich Reserven und Ressourcen, Entwicklung des...

Europe's increasing import dependency in natural gas facilitates a number of new infrastructure projects. However, up to now it has always been diffcult to assess the full impact of these projects as interdependencies within the whole European gas infrastructure system were hard to predict. We...