Long-term contracts are an important element of all economic activity and, thus, critical for understanding modern economic structures. The natural gas industry provides particular insights into the functioning and dynamics of long-term contracts and industry structures, in a sector that is...

In this paper, we provide a comprehensive multivariate cointegration analysis of three parts of the steam coal value chain - export, transport and import prices. The analysis is based on a rich dataset of international coal prices; in particular, we combine data on steam coal prices with freight...

We examine the degree of natural gas market integration in Europe, North America and Japan, between the mid 1990's and 2002. The relationship between the international gas marker prices, and their relation to the oil price, are investigated through principal component analysis and Johansen...

In this paper, we analyze structural changes in long-term contracts in the international trade of natural gas. Using a unique data set of 262 long-term contracts between natural gas producers and importers, we estimate the impact of different institutional, structural and technical variables on...

Die Preise für metallische Rohstoffe streben, trotz jüngster leichter Rückgänge, in der Tendenz neuen Höchstständen entgegen. Eisenerz, der nach Rohöl zweitwichtigste Rohstoff, ist von einer besonders starken Konzentration auf der Anbieter- und der Nachfrageseite geprägt. Relativ neu ist...

Natural gas is playing an important role in Germany, Europe, and around the globe as a bridge fuel in the transition toward lower-carbon energy systems. In this context, natural gas price development is very important, particularly in relation to its competitor, coal. Up until a few years ago,...

In economic, technical and political terms, the security of energy supply is of the utmost importance for Europe. Alongside competition and sustainability, supply security represents a cornerstone of the EU’s energy policy, and in times of rising geopolitical conflict plays an...

Das Thema »Energiepreise« ist brisant wie seit langer Zeit nicht mehr. Hohe Energiepreise schaden den Verbrauchern und der Wirtschaft. Die Energieunternehmen verweisen auf hohe Steuer- und Abgabenlasten sowie auf die Preisexplosion auf den Welterdölmärkten und die teuren Maßnahmen zur...

In this paper, we analyze structural changes in long-term contracts in the international trade of natural gas. Using a unique data set of 262 long-term contracts between natural gas producers and importers, we estimate the impact of different institutional, structural and technical variables on...

This letter provides a textbook example of an econometric analysis of the integration between two commodity markets and the subsequent price convergence or absence thereof. Price relations between spot markets are analysed for natural gas in Europe. The European market for natural gas is...