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...

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:...

This article explores the economic characteristics of the Italian gas storage system. Microeconomic and qualitative methods are used to shed light on past, present and forecasted trends. Notwithstanding the entrenched stagnation of the sector, the analysis highlights a break in trends. The...