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We develop a dynamic model of strategic investment in the Eurasian transport system fornatural gas. In the absence of international contract enforcement, countries may distortinvestment in order to increase their bargaining power, resulting in underinvestment incheap and/or overinvestment in...
Persistent link: https://www.econbiz.de/10005857730
We use the Shapley value and the nucleolus to analyze the impact of three controversial pipeline projects on the power structure in the Eurasian trade of natural gas. Two pipelines, `Nord Stream' and `South Stream', allow Russian gas to bypass transit countries, Ukraine and Belarus. The third...
Persistent link: https://www.econbiz.de/10010490647
Existing cooperative game theoretic studies of bargaining power in gas pipeline systems are based on the so called characteristic function form (CFF). This approach is potentially misleading if some pipelines fall under regulated third party access (TPA). TPA, which is by now the norm in the EU,...
Persistent link: https://www.econbiz.de/10012016390
This paper measures the extent to which prices exceed marginal costs in the U.S. natural gas distributionmarket during the period 1991-2007. We find large departures from marginal cost pricing in all 50states, with residential and commercial customers facing average markups of over 40%. Based...
Persistent link: https://www.econbiz.de/10005870321
This SIMAT Working Paper deals with an intensively discussed topic in the German natural gas economy: The price-link in natural gas contracts. Because of opposite price developments of the energy commodities such as oil, coal or natural gas, the traditionally used oil price-link is facing a...
Persistent link: https://www.econbiz.de/10010317981
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...
Persistent link: https://www.econbiz.de/10010263198
Der An-und Verkauf von Erdgas an Großhandelsmärkten wird in einem zunehmend liberalisierten Gasmarkt auch in …. Die aktuell in der Realität zu beobachtende hohe Korrelation der europäischen Börsenpreise für Erdgas untereinander kann …
Persistent link: https://www.econbiz.de/10010264674
We analyze the relation between European natural gas storage facilities and price patterns at major trading points, considering the theory of storage to derive a testable hypothesis imposed by the non-arbitrage condition. To model the efficiency of the natural gas market, we apply two indirect...
Persistent link: https://www.econbiz.de/10010265029
The increase in liquefied natural gas trade has accelerated the integration of previously segmented markets in North America, Europe, and Asia. This paper provides evidence on the integration of the transatlantic natural gas market. We test the theoretical proposition that in integrating markets...
Persistent link: https://www.econbiz.de/10010265030
We apply the EMF 23 study design to simulate the effects of the reference case and the scenarios to European natural gas supplies to 2025. We use GASMOD, a strategic severallayer model of European gas supply, consisting of upstream natural gas producers, traders in each consuming European...
Persistent link: https://www.econbiz.de/10010274285