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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;...
Persistent link: https://www.econbiz.de/10013040122
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;...
Persistent link: https://www.econbiz.de/10013031945
supply security, nor to make a return on investment; projects of new LNG terminals on the shore of the German North Sea …
Persistent link: https://www.econbiz.de/10012270846
supply interruptions. However, Russia continues to export liquefied natural gas (LNG) to Europe and still has some countries …
Persistent link: https://www.econbiz.de/10014536119
taking into account production, pipeline, LNG, and storage constraints. We develop several scenarios to analyze the future …
Persistent link: https://www.econbiz.de/10014204330
The interdependence of electricity and natural gas is becoming a major energy policy and regulatory issue in all jurisdictions around the world. The increased role of gas fired plants in renewable-based electricity markets and the dependence on gas imports make this issue particular striking for...
Persistent link: https://www.econbiz.de/10014155153
The Russian-Ukrainian crisis has revitalized the European concerns of supply disruptions of natural gas as experienced in 2006 and 2009. However, the European supply situation, regulation and infrastructure have changed since: imports are more diversified, EU member states better connected and a...
Persistent link: https://www.econbiz.de/10014037138
supply security issues may be overrated. LNG will likely increase its share of European natural gas imports in the future …, the UK is successfully converting from being a natural gas exporter to become a transit node for LNG towards continental … Europe, and congested pipeline infrastructure, and in some cases LNG terminals, will remain a feature of the European gas …
Persistent link: https://www.econbiz.de/10014206833
We analyze the relation between European natural gas storage facilities and price patterns at major trading points, considering the theory of storage to derive a testable hypothesis imposed by the non-arbitrage condition. To model the efficiency of the natural gas market, we apply two indirect...
Persistent link: https://www.econbiz.de/10014206835
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....
Persistent link: https://www.econbiz.de/10013028042