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In this study, the informational efficiency of the European natural gas market is analyzed by empirically investigating price formation and arbitrage efficiency between spot and futures markets. Econometric approaches are specified that explicitly account for nonlinearities and the low...
Persistent link: https://www.econbiz.de/10010190788
This paper is the first to discuss the design of futures hedging strategies in European natural gas markets (NBP, TTF and Zeebrugge). A common feature of energy prices is that conditional mean and volatility are driven by seasonal trends due to weather, demand, and storage level seasonalities....
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about the future development and security of Europe's gas supply. Using a numerical network model of the European gas system … we assess 1) the potential impact of infrastructure extensions for Europe's gas supply and 2) the role of supply security …, and new LNG terminals) or a strategic storage policy coordinated across Europe has the potential to reduce this shortage …
Persistent link: https://www.econbiz.de/10012061851
demand reduction effect. Even if Russia fails to supply Europe, the additional impact of the lower Dutch production is …
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natural gas within Europe. We use the Global Gas Model (GGM), a large-scale mixed complementarity representation of the …
Persistent link: https://www.econbiz.de/10010358860
In a non-renewable resource market with imperfect competition, both the resource rent and current prices influence a large resource owner's optimal supply. New information regarding future market conditions that affect the resource rent will consequently impact current supply. Bleaker demand...
Persistent link: https://www.econbiz.de/10010229857