A growing number of major natural gas markets in the world have adopted the gas-on-gas competition, or are in the phase of transition to this price formation mechanism. In this situation, China has also started to reform the pricing mechanism by establishing gas trading centers in Shanghai and...

Recent developments in the natural gas industry warrant new analysis of related issues. Environmental, social, and governance (ESG) investments have accelerated the shi􀀴 away from coal as the dominant source of electricity. Its low environmental impact, reduced volume, and broad availability...

East Asia remained the biggest market for liquefied natural gas (LNG) in 2018. The Russian Federation has a clear vision to develop its East Asia LNG projects to provide a bigger share of Asian LNG imports. This paper models Russian Federation - East Asia L NG trade patterns via the gravity...

Supply security is a prominent and crucial notion which nds application in various economic sectors (energy security, food security, supply chain risks). Yet, it remains particularly dicult to dene and measure. Currently used indicators of supply security focus on narrow approaches and oer...

This paper replicates the analysis in the paper “What Drives Natural Gas Prices?" by Stephen P.A. Brown and Mine K. Yücel. The replication confirms the results of that analysis: a long-run relationship existed between natural-gas prices and crude-oil prices during the period from June 1997 to...

In the context of reducing greenhouse gas emissions in the residential sector, fuel switching from coal and oil to natural gas is considered as a policy option. The paper considers fuel choice decisions among households within 30 metres of the Irish natural gas network. Consistent with earlier...

Despite its importance for policy purposes (including climate policy and the energy transition), evidence about the price elasticity of natural gas demand in the residential sector is very limited and based on inference from situations with modest variation in prices. We focus on a locale and...

Untapped improvements in energy efficiency in the residential sector may deliver large savings in energy use and the CO2 associated emissions. Yet empirical assessments have been difficult and controversial. We collect monthly natural gas meter readings from a sample of homes in Transcarpathia,...

This study aims at presenting the legally, technically, and economically empowered suggestion for a clear definition of a competitive market of gas fuels and electricity of a Member State in order to be utilized within trans-border trade of these utilities, as required by the European Union (EU)...

The purpose of this paper is to show the shortcomings of incentive policies, specifically competitiveness, if they are designed without considering fundamentals of market development such as, level of demand, level of investment, and availability of alternative sources of supply. We focus on the...

In many futures markets, trading is concentrated in the front contract and positions are rolled-over until the strategy horizon is attained. In this paper, a pair-wise comparison between the conventional risk premium and the accrued risk premium in rolled-over positions in the front contract is...

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....

Purpose - The purpose of this paper is to study the efficiency of different oil and gas markets. Most previous studies examined the issue using low frequency date sampled at monthly, weekly, or daily frequencies. In this study, 30-minute intraday data are used to explore efficiency in energy...

This paper focuses on the valuation and hedging of gas storage facilities, using a spot-based valuation framework coupled with a financial hedging strategy implemented with futures contracts. The contributions of this paper are two-fold. Firstly, we propose a model that unifies the dynamics of...

The US and UK markets for natural gas are connected by arbitrage activity in the form of shifting trade volumes of liquefied natural gas (LNG). We empirically investigate the degree of integration between the US and the UK gas markets by using a threshold cointegration approach that is in...

"Two opposing narratives frame the strategic future of Europe, one geopolitical and one economic, and both center on the same resource: natural gas. In The Bridge, Thane Gustafson, an expert on Russian oil and gas, argues that the geopolitical rivalries that capture the lion's share of media...

There is a paucity of studies on natural gas-based energy production in Small Island Developing States (SIDS) even though technological improvements today are likely to make the application of natural gas more and more feasible. The development of natural gas in some of the regions of the...

New England is at the leading edge of an energy transition in which natural gas is playing an increasingly important role in the US electricity generation mix. In recent years, the region’s wholesale natural gas and electricity markets have experienced severe, simultaneous price spikes. While...