infrastructure is sufficient for average market conditions. Due to the strong dependency on Russian imports, however, disruptions …, and new LNG terminals) or a strategic storage policy coordinated across Europe has the potential to reduce this shortage …. The positive impact of an extended network, however, also depends on the capability of the global gas market to provide …

electricity is low and net-availability and transport capacity high. Accounting for periods of gas specific pricing is relevant … prevalent in recent years, i.e., we find no evidence of underinvestment in capacity after deregulation. …

operators of storage facilities realize seasonal arbitrage profits, and that market performance overall is substantially …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 …