According to the U.S. Energy Information Administration, LNG is projected to become a much larger share of U.S. natural gas consumption, rising from current levels of around 2.5% of total natural gas consumption to 12.4% by 2030. Because natural gas and LNG are substitutes, natural gas prices...

I maximize present valued world GDP over the stockpile of petroleum used to contain price shocks administered by OPEC. Long run price elasticity of demand and non-OPEC supply exceed those in the short run, so OPEC profits from sudden, as opposed to gradual, increases in price. These shocks...

China’s global quest for resources, in particular oil and natural gas, has received unprecedented worldwide attention and scrutiny. This is partly because of China’s own high-profile, active energy diplomacy, its national oil companies’ acquisitions in the key exporting regions of oil and...

Natural gas liquids and liquefied petroleum gases have played an important role in the current US shale gas boom. Depressed gas prices in recent years have made pure natural gas operations less profitable. The result is that liquids components in gas production have become increasingly important...

The discovery of huge reserves of natural gas in the eastern Mediterranean in the last few years are stirring the pot of regional turmoil and provoking various reactions from the other players in the area. It is also opening up new economic opportunities and redefining strategic relationships....

Herein we more accurately capture the cointegrating relationship between natural gas and crude oil prices by controlling for nonstationarity induced by endogenous changes in regime. Specifically, we allow the cointegrating equation to switch between m states, according to a first-order Markov...

The purpose of this working paper is to delineate the correlation between decarbonization and security of supply, and to assess the sequential effect of these notions on the EU’s external gas relations. It first discusses the contribution of the gas sector to the EU’s decarbonization...

Estimating a static coefficient for a deseasoned gas storage or weather variable implicitly assumes that market participants react identically throughout the year (and over each year) to that variable. In this analysis we model natural gas returns as a linear function of gas storage and weather...

The ASEAN region's most ambitious mega-project, the trans-ASEAN Gas Pipeline (TAGP) aims to connect the gas reserves of the Andaman Sea, Gulf of Thailand and South China Sea to the urban and industrial demand centres of Southeast Asia. The economics prospects for the TAGP are poor, dependent as...

The US shale gas revolution has caused a substantial decline of US dependency on natural gas imports and has led to a significant decrease of spot prices for natural gas at Henry Hub. Given that the recent LNG development has been largely oriented towards the US market, this was the major reason...