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.

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.

A modified Cournot model of the natural gas market in the European Union: Mixed-motives delegation in a politicized environment

Energy Policy ◽  
2012 ◽  
Vol 41 ◽  
pp. 280-285 ◽  
Author(s):  
Thijs Jansen ◽  
Arie van Lier ◽  
Arjen van Witteloostuijn ◽  
Tim Boon von Ochssée
Keyword(s):  
European Union ◽  
Natural Gas ◽  
The European Union ◽  
Cournot Model ◽  
Natural Gas Market ◽  
Gas Market ◽  
Mixed Motives

scholarly journals ANALYSIS OF LNG MARKET TRENDS AND PROSPECTS FOR THE IMPLEMENTATION OF RUSSIAN ARCTIC LNG PROJECTS.

2021 ◽  
Vol 71 (1/2021) ◽  
pp. 83-99
Author(s):  
Michael V. Ulchenko ◽  
Keyword(s):  
United States ◽  
Natural Gas ◽  
Production Capacity ◽  
The United States ◽  
Gas Production ◽  
Liquefied Natural Gas ◽  
Asia Pacific ◽  
The European Union ◽  
Gas Market ◽  
Near Future

Currently, natural gas is considered by most countries as the main source of energy, since it is the cleanest of all hydrocarbon fuels. So, the countries of the European Union have already announced their intention to completely abandon coal, in the production of electricity, in favor of natural gas by 2030. A similar policy is being pursued by the countries of the Asia-Pacific region, although they do not specify any specific deadlines. At the same time, natural gas is transported in two ways — using a pipeline and in liquefied form. The main advantage of the second method is that after liquefaction, the gas can be delivered to any point of the planet where there is a demand for it. Currently, the growth rate of the liquefied natural gas market is such that in 15–20 years it will not only catch up with the pipeline market, but also surpass it The paper identifies the key producers and exporters of liquefied natural gas, as well as assesses their potential opportunities in terms of increasing the volume of natural gas production and LNG production. The analysis showed that at the beginning of 2021, the main LNG exporters are Australia, Algeria, Indonesia, Malaysia, Qatar, Nigeria, Russia and the United States. At the same time, Qatar, Russia and the United States have real opportunities to increase export volumes. Australia is also able to increase production volumes, as it has reserves and spare production capacity, but due to the significantly increased domestic demand for LNG, it is likely that it will not be able to do this in the near future.

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 Perspectives on LNG competitiveness: An overview of the EU market

2021 ◽  
Vol 7 (1) ◽  
pp. 131-163
Author(s):  
Strahinja Obrenović
Keyword(s):  
European Union ◽  
Content Analysis ◽  
Natural Gas ◽  
Liquefied Natural Gas ◽  
The European Union ◽  
Total Import ◽  
Gas Market ◽  
Liquefied Gas ◽  
South Of Europe ◽  
The Eu

In this paper we research the development and competitiveness of the LNG (Liquified Natural Gas) market in the European Union, especially in its member states located in west and south of Europe. First, we analyze legal and regulatory framework at the EU level, under which LNG terminals and facilities operate. In addition to content analysis, we also compare trends in the European LNG market with trends in other regions, especially in the Asian LNG market. The result of the research highlights the changed structure of the EU's gas market, characterized by larger imports of liquefied natural gas, especially since the end of 2018, as well as increased number of terminals and capacities for receiving liquefied gas. However, the growth in the share of liquefied gas in total import was not linear in the previous years. As a part of the discussion we examine three possible scenarios regarding the future of LNG market in the European Union, and we conclude that the perspective of LNG in the market will primarly depend on price competitiveness comparing it to pipeline gas transport.

scholarly journals The trade of energy commodities between the European Union and the United States – crude oil and natural gas

2016 ◽  
Vol 32 (4) ◽  
pp. 141-156
Author(s):  
Tadeusz Olkuski ◽  
Adam Szurlej ◽  
Barbara Tora
Keyword(s):  
United States ◽  
European Union ◽  
Natural Gas ◽  
Crude Oil ◽  
Mutual Recognition ◽  
The United States ◽  
Gas Production ◽  
Common Market ◽  
The European Union ◽  
Oil And Natural Gas

AbstractThe trend towards globalization can be observed for many years. It is reflected by the ongoing elimination of trade barriers between countries and the introduction of a system of mutual recognition of quality standards. The best example is the European Union, where a common market for many industries has been developed. Such a common market has already existed before in the United States of America and that this is why the negotiations on the merger of the largest and most developed economies in the world started in 2013. The currently negotiated agreement, the Transatlantic Trade and Investment Partnership (TTIP) is designed to eliminate barriers to trade and capital flows between the two mentioned markets. The article attempts to evaluate the trade of energy commodities, namely crude oil and natural gas, between the European Union and the United States. The estimates for the next years are based on historical data and the current state. The dynamics of natural gas and crude oil production in the European Union and the United States, as well as changes in the import and export of these energy resources, have been shown. The volume of gas production from the largest North American deposits was also subjected to analysis. Special attention was paid to natural gas from unconventional deposits, as its production is expected to grow continuously until 2040. Meanwhile, the production of gas from conventional deposits is expected to decrease. The rest of the paper is focused on the balance sheets of cash for oil and natural gas. It was pointed out that the market situation for both commodities is different. In the EU, the production and consumption of both crude oil and natural gas gradually decreases, while in the United States this trend is reversed. On the other hand, some similarities can be seen in the refining industry. In recent years, many refineries were closed both in the European Union and in the United States. However, though this trend was more pronounced in Europe. In the case of liquefied gas (LNG), the expansion of US gas to Europe can be expected. Currently, the United States is building about 30 export terminals and production surpluses will certainly be exported to Europe. Judging by the pace of development of export terminals, it can be assumed that the power of condensation can reach up to 110 million tons in the near future and, as a consequence, natural gas in the form of LNG will be supplied to the European market.

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