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 private storage in a market for a commodity (e.g. natural gas) whose supply is subject to the threat of an irreversible disruption. We focus on the medium term in which seasonality of demand and exhaustibility can be neglected. We characterize the price and...