Recent supply security concerns in Europe have revived interest into the natural gas market. Here, we investigate investment behavior and trade in an imperfect market structure under uncertainty in both supply and demand. We focus on three uncertain events: i) transit of Russian gas via Ukraine...

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...

The current fiscal crisis in Illinois affects all parts of the state’s budget. Infrastructure is no exception. For many years Illinois has spent more on highways than it has collected in highway-related revenue. One solution to this problem is to increase the state’s gasoline tax. This...