Erdgasspeicher nehmen eine zunehmend bedeutendere Rolle ein, da sie als Flexibilitätsinstrumentzum saisonalen Ausgleich von Angebot und Nachfrage sowie zur kurzfristigenArbitrage maßgeblich zur Wettbewerblichkeit im Erdgasmarkt beitragen können.Ziel der Studie ist es, ein Monitoringtool zu...

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...

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...

This paper sheds light on the differences and similarities in natural gas trading at the National Balancing Point in the UK and the Henry Hub located in the US. For this, we analyze traders' expectations and implement a mechanical forecasting model that allows traders to predict future spot...

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...