In this paper the authors tackle the gas storage evaluation, dividing its value in Intrinsic and Extrinsic. The Intrinsic value is defined at the time t, given the market Forward curve, by the strategy that maximize the P&L, due to the difference between the injection and withdrawal prices,...

This paper analyzes the role of storage for economies facing the risk of a gas supply disruption. We characterize the optimal/competitive transitory dynamics (accumulation, drainage and target stock). We partially relax the irreversibility hypothesis, by extending the model in two directions:...

The purpose of this paper is the comparative analysis of four natural gas storage valuation approaches. In competitive natural gas markets the optimal valuation and operation of natural gas storages is a key task for natural gas companies operating storages. Within this paper, four spot based...