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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
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 …. Grund dafür sind Infrastrukturengpässe in Zeiten hoher Nachfrage. -- Erdgas ; Europäischer Gasmarkt ; Erdgaspreise …
Persistent link: https://www.econbiz.de/10003850498
In this paper we investigate natural gas producer's reactions to changes in market prices. We estimate price elasticities of aggregated supply in the most competitive market for natural gas: the United States. Using monthly time series data form 1987 to 2012 our analysis is based on an...
Persistent link: https://www.econbiz.de/10010339163
Natural gas plays an important role in the future development of electricity markets as it is the least emission intensive fossil generation option while additionally providing the needed flexibility in plant operation to deal with intermittent renewable generation. As both the electricity and...
Persistent link: https://www.econbiz.de/10010373320
Natural gas plays an important role in the future development of electricity markets as it is the least emission intensive fossil generation option while additionally providing the needed flexibility in plant operation to deal with intermittent renewable generation. As both the electricity and...
Persistent link: https://www.econbiz.de/10010488524
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...
Persistent link: https://www.econbiz.de/10010430807
Japan's natural gas industry is reliant on imported liquefied natural gas (LNG) that normally requires regasification prior to consumption. Unbundling of the industry has not been enforced and while some local distribution utilities purchase gas via pipelines that is regasified by the seller,...
Persistent link: https://www.econbiz.de/10012955579
We analyse the effect of vertical integration in a two-stage oligopoly where the supply of one of the upstream players is insecure because this player suffers from stochastic costs. He may decide not to deliver if costs are too high. We formulate this situation as a model of the European gas...
Persistent link: https://www.econbiz.de/10012857070
Natural gas plays an important role in the future development of electricity markets as it is the least emission intensive fossil generation option while additionally providing the needed flexibility in plant operation to deal with intermittent renewable generation. As both the electricity and...
Persistent link: https://www.econbiz.de/10013052909