A three-step procedure to investigate the convergence of electricity and natural gas prices in the European Union

2021 ◽  
pp. 105697
Author(s):  
Ernesto Cassetta ◽  
Consuelo R. Nava ◽  
Maria Grazia Zoia
Keyword(s):  
European Union ◽  
Natural Gas ◽  
The European Union ◽  
Step Procedure ◽  
Natural Gas Prices

scholarly journals US Natural Gas Market Classification Using Pooled Regression

2014 ◽  
Vol 2014 ◽  
pp. 1-9 ◽  
Author(s):  
Vyacheslav V. Kalashnikov ◽  
Gerardo A. Pérez-Valdés ◽  
Timothy I. Matis ◽  
Nataliya I. Kalashnykova
Keyword(s):  
European Union ◽  
Time Series ◽  
Natural Gas ◽  
The United States ◽  
Energy Markets ◽  
The European Union ◽  
Regression Parameters ◽  
Natural Gas Prices ◽  
Gas Market ◽  
New Research

Natural gas marketing has considerably evolved since the early 1990s, when a set of liberalizing rules were passed in both the United States and the European Union that eliminated state-driven regulations in favor of open energy markets. These new rules changed many things in the business of energetics, and therefore new research opportunities arose. Econometric studies about natural gas emerged as an important area of study since natural gas may now be sold and traded in a number of stock markets, each one responding to potentially different behavioral drives. In this work, we present a method to differentiate sets of time series based on a regression model relating price, consumption, supply, and other factors. Our objective is to develop a method to classify different areas, regions, or states into groups or classes that share similar regression parameters. Once obtained, these groups may be used to make assumptions about corresponding natural gas prices in further studies.

l'Italia hub euromediterraneo del gas naturale: politiche, infrastrutture, collaborazioni europee e internazionali

2012 ◽  
pp. 5-13
Author(s):  
Sergio Garribba
Keyword(s):  
European Union ◽  
Natural Gas ◽  
Eastern Europe ◽  
Market Integration ◽  
Central And Eastern Europe ◽  
The European Union ◽  
Security Of Supply ◽  
Regional Market ◽  
Italian Government ◽  
Natural Gas Prices

Natural gas is to remain a fundamental energy commodity in Italy and in the European Union during the coming decades. With a view to an increasing market integration, Italy and countries from Central and Eastern Europe could be interested in building a single regional market, implying a convergence towards a regional gas trading hub as a first step, then leading to a full-fledged market hub where the Italy would be the center. As a result of such a Euromediterranean hub countries of the region would improve their security of supply, reduce natural gas prices, and facilitate investments in new infrastructures. Necessary prerequisites for the establishment of this Euromediterranean hub are a stable alliance between governments and companies of consuming countries, collaboration agreements with producing and transit countries, the independence of the grids and a shared system of rules for grid access and use. The ownership separation of Snam, the Italian gas grid operator, from Eni as proposed by the Italian Government may represent a unique opportunity towards these goals.

scholarly journals PRICING IN THE NATURAL GAS MARKET OF UKRAINE IN TERMS OF ENERGY INTEGRATION OF UKRAINE AND THE EU

2020 ◽  
pp. 40-44
Author(s):  
I.A. Vakulenko ◽  
T.A. Vasilyeva
Keyword(s):  
European Union ◽  
Natural Gas ◽  
The European Union ◽  
Bilateral Monopoly ◽  
Natural Gas Market ◽  
World Energy ◽  
The World ◽  
Natural Gas Prices ◽  
Gas Market ◽  
Energy Community

The article examines the formation of natural gas prices in the Ukrainian and world energy markets. The role of energy as a driver of economic development of national and international economy due to the penetration of energy into other sectors of the economy and the formation of close relationships that promote mutual development, innovation, and competitive environment. The paper identifies the legal framework through which the natural gas market regulation in the European Union (in particular directives of the European Parliament and of the Council and guidance note on directives) and Ukraine and legislates the vector of development of the energy sector following strategic economic and environmental goals (in particular Treaty establishing the Energy Community, Association Agreement between Ukraine, of the one part, and the European Union, the European Atomic Energy Community and their Member States, of the other part, and laws of Ukraine). Based on the analysis of natural gas prices in the world energy market, the attractiveness of using natural gas as a substitute for energy products of oil refining is substantiated. To identify the pricing mechanisms used to form natural gas prices in the natural gas market in Ukraine pricing approaches used in different countries of the world are defined and described, in particular, gason-gas competition (GOG)), oil price escalation (OPE), regulated prices (including regulation: cost of service (RCS)), regulation: social and political (RSP), regulation below cost (RBC), bilateral monopoly (BIM)), free use of natural gas (No price (NP)). Based on the study of natural gas price formation mechanisms, it is established that at the present stage of development of Ukraine's energy sector is characterized by the transition from a regulated pricing mechanism in the natural gas market to gas and gas competitive prices. However, the transition phase is characterized by the partial use of the mechanism of bilateral monopoly prices. Simultaneously, it was determined that the formation of costs according to the oil formula is not typical for Ukraine's natural gas market.

scholarly journals Advances in Underground Energy Storage for Renewable Energy Sources

2021 ◽  
Vol 11 (11) ◽  
pp. 5142
Author(s):  
Javier Menéndez ◽  
Jorge Loredo
Keyword(s):  
European Union ◽  
Renewable Energy ◽  
Energy Storage ◽  
Natural Gas ◽  
Greenhouse Gas ◽  
Fossil Fuels ◽  
Renewable Energy Sources ◽  
Energy Sources ◽  
The European Union ◽  
Coal Fuel

The use of fossil fuels (coal, fuel, and natural gas) to generate electricity has been reduced in the European Union during the last few years, involving a significant decrease in greenhouse gas emissions [...]

scholarly journals Russian Foreign Energy Policy Towards the European Union

2020 ◽  
Vol 11 ◽  
Author(s):  
Riley Black
Keyword(s):  
European Union ◽  
Natural Gas ◽  
Energy Policy ◽  
The European Union ◽  
Diverse Range ◽  
Natural Gas Markets ◽  
Russian State ◽  
History Of ◽  
The Subject ◽  
Near Future

Despite a long history of cooperation, Russia's energy policy towards the European Union has recently been the subject of great consternation amongst scholars and policymakers due to the gas disputes of 2006 and 2009. In addition to European efforts aimed at liberalizing its internal energy market, the looming expiry of the latest Russia-Ukraine gas transit agreement has raised concerns about Russia's potential use of the 'energy weapon,' or more simply its ability to compel European policymakers to acquiesce to various Russian demands through the threat of shutting off gas exports to Europe. Ultimately, I find that this scenario is highly unlikely in the near future, as Russia's foreign energy policy towards the European Union is characterized by a diverse range of interests that largely revolve around achieving security of demand. As such, both the Russian state and Gazprom are significantly limited in their ability to exercise influence over the European Union through natural gas exports, as attempting to do so would jeopardize their domestic political and commercial interests. Moreover, market liberalization in both EU and Russian natural gas markets have weakened the overtly geopolitical aspects of Russia’s energy policy towards the European Union.

scholarly journals Serbian gas sector in the spotlight of oil and gas agreement with Russia

2017 ◽  
Author(s):  
Dejan Brkić
Keyword(s):  
European Union ◽  
Natural Gas ◽  
Energy Use ◽  
Oil And Gas ◽  
Action Plan ◽  
The European Union ◽  
European Union Policy ◽  
Gas Industry ◽  
Natural Gas Industry ◽  
South Stream

The Russian natural gas industry is the world's largest producer and transporter of natural gas. This paper identifies the benefits for Serbia as transient country to European Union for Russian natural gas through South Stream gas-line in the current political context of implementation of gas agreement. On the other hand, according to the Agreement on Stabilization and Integration to European Union, Serbia is obligatory to implement reforms in energy sector and its energy policy must be in accordance with the European Union policy. Republic of Serbia has produced and consumed natural gas domestically since 1952, but has always been net importer. Strategy of Energy Development in Serbia and especially, National Action Plan for the gasification on the territory of Republic of Serbia dedicated special attention to gas economy development in respect with expected contribution in efficient energy use and environmental policy protection in the country.

scholarly journals Energy market in European Union and interests of Serbia

2009 ◽  
Vol 61 (4) ◽  
pp. 515-535
Author(s):  
Stevan Rapaic
Keyword(s):  
European Union ◽  
Natural Gas ◽  
Crude Oil ◽  
Political Interest ◽  
Energy Market ◽  
The European Union ◽  
Strategic Partner ◽  
Transit Country ◽  
Oil And Natural Gas ◽  
Main Factors

The author deals with energy market in Europe by presenting the gross consumption of energy as well as production of energy within the European Union. The need of EU for natural gas and crude oil is one of the main factors why Russia is still the key player in Europe's energy market. European Union is trying to leave Russia behind by importing crude oil and natural gas from countries like Norway, Saudi Arabia, Algeria, Libya, Nigeria, Iraq, but Europe is still highly dependent of Russian energy. Considering these facts, Serbia recognizes that its economic and political interest is to become a strategic partner with European Union as transit country for Russia's natural gas and crude oil. .

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