scholarly journals The volatility of natural gas prices - Structural shocks and influencing factors

2021 ◽  
Vol 37 (4) ◽  
Author(s):  
L. Stajic ◽  
B. Đorđević ◽  
S. Ilić ◽  
D. Brkić
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Energy Production ◽  
Coal Production ◽  
Total Production ◽  
Structural Shocks ◽  
The World ◽  
Natural Gas Prices ◽  
Oil And Natural Gas ◽  
Gas Market

The paper examines the primary drivers and factors influencing the volatility of natural gas prices in the world from January 2007 to July 2020. In addition to the narrow dependence between crude oil and natural gas prices, the influence of renewable energy production and coal production on the price of natural gas has been studied. For that purpose, the method of multiple linear regression was used. The results show that the volatility of natural gas prices significantly depends on the type of the shock in the natural gas market, and that the total production of energy from renewable sources, production of coal and natural gas and the price of crude oil have a significant impact on the price of gas.

scholarly journals The New Regime in Natural Gas Pricing in Alberta

1977 ◽  
Vol 15 (3) ◽  
pp. 538 ◽  
Author(s):  
Francis M. Saville
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Federal Government ◽  
International Market ◽  
The Future ◽  
Natural Gas Prices ◽  
Oil And Natural Gas

Traditionally, the price of petroleum and natural gas in Canada has been relatively low. However, recent changes in the international market have placed pressures upon the federal and provincial governments to reassess the pricing of these commodities. As consequence, Alberta has, in an effort to raise natural gas prices, passed the Arbitration Amendment Act, which forces the field price of gas towards the commodity value and the Natural Gas Pricing Agreement Act, which acts as an agreement with the federal government regarding natural gas prices. At the same time, the federal government has enacted the Petroleum Administration Act to regulate the price of crude oil and natural gas. This article discusses the various acts, in particular the Natural Gas Pricing Agreement Act, as well as the con stitutionality of such legislation and the future pricing of natural gas in Canada.

scholarly journals Dependence and extreme dependence of crude oil and natural gas prices with applications to risk management

2014 ◽  
Vol 42 ◽  
pp. 332-342 ◽  
Author(s):  
Riadh Aloui ◽  
Mohamed Safouane Ben Aïssa ◽  
Shawkat Hammoudeh ◽  
Duc Khuong Nguyen
Keyword(s):  
Risk Management ◽  
Natural Gas ◽  
Crude Oil ◽  
Extreme Dependence ◽  
Natural Gas Prices ◽  
Oil And Natural Gas

scholarly journals Volatility Modelling in Crude Oil and Natural Gas Prices

2016 ◽  
Vol 38 ◽  
pp. 476-491 ◽  
Author(s):  
Omur Saltik ◽  
Suleyman Degirmen ◽  
Mert Ural
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Natural Gas Prices ◽  
Oil And Natural Gas

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 Potentials and prospects for implementation of renewable energy sources in Serbia

2019 ◽  
Vol 23 (5 Part B) ◽  
pp. 2895-2907 ◽  
Author(s):  
Njegos Dragovic ◽  
Milovan Vukovic ◽  
Dejan Riznic
Keyword(s):  
Renewable Energy ◽  
Natural Gas ◽  
Crude Oil ◽  
Geothermal Energy ◽  
Energy Production ◽  
Renewable Energy Sources ◽  
Current Status ◽  
Energy Sources ◽  
Hydro Power ◽  
Oil And Natural Gas

Serbia is dependent on imports of crude-oil and natural gas, but is endowed by reserves of lignite and the potential of renewable energy sources. Serbia has a strategy to reduce greenhouse gas emissions in the energy sector and to increase the share of renewable in gross final energy production 27% by 2020. Serbia?s total estimated technically usable potential of renewable energy sources is 5.65 Mtoe per year. Biomass has the highest potential for use in Serbia (3.448 Mtoe), followed by hydro power (1.679 Mtoe), solar energy (0.240 Mtoe), geothermal energy (0.180 Mtoe), and wind energy (0.103 Mtoe). This paper presents the potential of renewable energy sources available in Serbia, with current status of their use and prospects for further exploitation.

Fuel Oil

1986 ◽  
Vol 4 (2-3) ◽  
pp. 125-134
Author(s):  
Richard R. Dickinson
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Nuclear Power ◽  
Petroleum Industry ◽  
Oil Prices ◽  
Government Support ◽  
Fuel Oil ◽  
Heavy Fuel Oil ◽  
Natural Gas Prices ◽  
Oil And Natural Gas

As the price of petroleum has increased, the power industry has displaced a great deal of more expensive petroleum and natural gas with coal and nuclear power. The petroleum industry has installed processing facilities to upgrade its heavy fuel oil to make lighter products. These two actions, when combined, have effectively resulted in producing clean products indirectly from coal. A profitable synfuels industry has been created by the refining and power industries without conscious direction on their part—and without government support. The net effect has been to substantially reduce demand for both crude oil and natural gas, stretching future supplies of petroleum energy. This displacement has contributed to the temporary bubble in natural gas and the present oversupply of crude oil, creating downward price pressures on both crude oil and products. Even so, fuel oil prices have remained relatively stable because the industry has installed sufficient capability through its refinery improvements to upgrade fuel oil into more clean products, thereby reducing production of heavy fuel oil. In the future, we can expect the interaction among these fuels to continue to exert their effects. Since there are many consumers who can use either natural gas or fuel oil, their prices will remain tied to each other. Fuel oil prices will set the upper limits to which the burner tip price of natural gas can rise. Conversely, natural gas prices will tend to set the floor under fuel oil prices.

scholarly journals The Analysis of Natural Gas and Crude Oil Market from the Global and EU Perspective

2012 ◽  
Vol 5 (18) ◽  
pp. 282-296
Author(s):  
Saleh Mothana Obadi ◽  
Matej Korček
Keyword(s):  
Natural Gas ◽  
Crude Oil ◽  
Supply And Demand ◽  
Oil Market ◽  
Natural Gas Development ◽  
Oil And Natural Gas ◽  
Gas Market ◽  
The One ◽  
The Impact ◽  
The Eu

Abstract This paper deals with the development of the crude oil and natural gas market in the world and especially in the EU. The analysis of the mentioned energy commodities are based on time serious statistical data and legislative documents and treaties adjusting the energy market. In this paper we analyze how the natural gas and crude oil as the two energy sources that are on the one hand most important in the energy mix and on the other hand least available within the very territory of EU itself therefore meaning the largest threat to the energy security of EU countries. We focus on analyzing of development of the worlds crude oil and natural gas development as the economic environment developed during last 20 year. Then we characterize what has EU done as the reaction on this development and finally we analyze the impact on EU in terms of supply and demand for natural gas and crude oil in first decade of 21st century. We found that, in 2009, the 66 % of EU natural gas imports were from four countries (Russia, Algeria, Norway and Nigeria) and the EU crude oil imports reached about 87 %.

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