Rapidly evolving technologies and services have ignited a shale gas revolution in the United States. In April 2011, an initial assessment by the U.S. Energy Information Administration (EIA) revealed that shale gas is a “global phenomenon,” and many countries want to use more natural gas to...

We provide the first high-frequency investigation of price discovery within the physical and financial layers of Europe's natural gas markets.Testing not only looks at short-term return dynamics, but also considers each security's contribution to price equilibrium in the longer-term.Results show...

This paper determines the convenience yield implied in the European natural gas markets and investigates driving factors and according dynamics. For this, we approximate the convenience yield via an option-based approach, in which the convenience yield is determined as the difference between two...

In this paper I provide an econometric analysis of correlated discrete event impact on the price of natural gas, namely the Nord Stream's effect on the European natural gas market. The Nord Stream is a rare large scale event with the potential to induce significant price effects in commodity...

Over the period 2015–2050 the consumption of natural gas of European OECD countries is expected to grow more than the consumption of any other energy source. Although these countries are interconnected and in most cases share a common currency, their wholesale national gas markets are highly...

The current article claims that the recent changes taking place in the EU gas market, and namely internal market drive and security of supply concerns, have a significant impact upon the process of natural gas odorization. The latter did not represent significant problems in previously...

This paper investigates the development of wholesale markets for natural gas at the different stages of market liberalization. We identify three steps in the process: wholesale trade initially develops to cope with balancing needs when the shippers and suppliers segments become more fragmented;...