Whilst some regional energy markets appear to be integrating, the pricing of natural gas exports in an imperfect global market remains a difficult task. This paper expands a global party to party gas price bargaining model to capture optimally lagged daily price changes of the major competing...

Global natural gas markets are neither fully developed nor informationally efficient. Factors other than randomly arriving good and bad news, regarding economic, financial and political risks, affect prices. Despite this constraint, the model in this study is tested for feasibility as a starting...