I estimate short and long-run price elasticities of U.S. natural gas supply and demand. For robustness, the estimates are based on data of varying frequencies and samples, some of which include the recent U.S. shale gas boom. Aside from the numbers themselves, there are two main conclusions. As...

In transposing EU Directive 73/2009/CE on natural gas infrastructures into Italy’s national legislation, the country opted for a Independent Transmission Operator (ITO) model instead of full ownership unbundling. ITO allows the essential facility to be controlled by a vertically integrated...

The Republic of Azerbaijan is one of the oil and gas rich countires of the former Soviet Union. After the second stage of the Shah Deniz gas field, natural gas exltation and exportation became one of the key issues in Azerbaijan’s oil and gas stategy. Diversification of the oil and gas...

The Japanese government initiated a series of regulatory reforms in the mid-1990s. The Japanese urban gas industry consists of various sized private and non-private firms. Numerous previous studies find that deregulation leads to productivity improvements. We extend the literature by analyzing...

This paper uses evidence on policies, markets and private transactions to discuss the experience of natural gas infrastructure integration in the Southern Cone of Latin America. The argument is that contracts on international exchanges supported by infrastructure may become incomplete due to...

The concept of energy security can be rather difficult to precisely define. In fact, the scope of energy security includes a somewhat different set of issues in the gas sector than in the electricity sector. After all, electricity can be produced in every country of the European Union, but gas...

In the early 2000s, the Republic of Turkey has initiated an ambitious reform program in the most important segments of her energy market; namely, electricity, natural gas, petroleum and liquefied petroleum gas industries, which requires privatization, liberalization as well as a radical...

We study farm real estate values in the Barnett Shale (Texas) and the northeastern part of the Marcellus Shale (Pennsylvania and New York). Shale gas development caused appreciation in both areas but the effect was much larger in the Marcellus, suggesting broader ownership of oil and gas rights...

This paper examines the economic experience of past energy booms and of current unconventional shale gas and oil development. It focuses on key economic characteristics of gas and oil development, such as its employment potential, the geography of such development, its boom-bust nature, and the...