scholarly journals Volatility and Risk in the Energy Market: A Trade Network Approach

2021 ◽  
Vol 13 (18) ◽  
pp. 10199
Author(s):  
Germán G. Creamer ◽  
Tal Ben-Zvi
Keyword(s):  
Natural Gas ◽  
Price Volatility ◽  
Complex Interaction ◽  
Energy Market ◽  
Degree Centrality ◽  
Network Approach ◽  
Trade Network ◽  
Trade Networks ◽  
Risk Management System ◽  
Energy Trade

This paper evaluates the effect of energy trade networks on the price volatility of coal, oil, natural gas, and electricity. This research conducts a longitudinal analysis using a time series of static coal trade networks to generate a dynamic trade network. It uses the component causality index as a leading indicator of the price volatility of the energy market. This research finds out that the component causality index, based on degree centrality, anticipates or moves together with coal volatility and, to a lesser degree, with natural gas and electricity volatility for the period 1998–2014. The proposed index could be integrated into a risk management system for investors and regulators. The broad impact of this research lies in the understanding of mechanisms of the instability and risk of the energy sector as a result of a complex interaction of the network of producers and traders.

Geopolitics of Energy

2016 ◽  
Vol 3 (1) ◽  
pp. 78
Author(s):  
Blerina Muskaj
Keyword(s):  
Natural Gas ◽  
Qualitative Methodology ◽  
Scientific Literature ◽  
Point Of View ◽  
Energy Market ◽  
Energy Potential ◽  
Environmental Consequences ◽  
Regional Energy ◽  
Political Debates ◽  
Political Weapon

At the beginning of my paper I will explain the concept of "Geopolitics of Energy", this will be done for a quite simple reason, because I want everyone who can sit to read this article to understand more clearly what is at stake, therefore allow them the comprehension of what is being elaborated bellow at first sight. Geopolitics of energy is a concept that relates to policies choosing exporters to implement on importers, is the policy that has an impact on energy consumption, which includes consumer’s choice in the geopolitical context, taking into account the economy, foreign policy, the safety of energy, environmental consequences and priorities that carries the energy exporter. This concept permits the understanding of how works the politics that undertakes this initiative taking into account natural resources such as: natural gas and oil. Natural gas and oil are two main resources that produce energy but also two main elements on which arises all the topic in the energetics game. For this paper is used qualitative methodology, through which we were able to accomplish this work. I focused on scientific literature, official publications and reports on energy geopolitics. The main aim has been to show how in this decade, energy security is at the center of geopolitical agenda and has become the focus of numerous political debates. Regarding this point of view, Europe is taking the initiative to create a common energy market within the continent by creating projects, in which Albania appears as a new regional energy potential. Russia, which is aiming to play a role in the international arena, is seeking to position itself geopolitically in "its political weapon", hydrocarbon resources, in particular natural gas resources.

Natural gas trade network of countries and regions along the belt and road: Where to go in the future?

2021 ◽  
Vol 71 ◽  
pp. 101981
Author(s):  
Jiaman Li ◽  
Xiucheng Dong ◽  
Qingzhe Jiang ◽  
Kangyin Dong ◽  
Guixian Liu
Keyword(s):  
Natural Gas ◽  
Trade Network ◽  
The Future ◽  
Belt And Road ◽  
The Belt And Road

Negotiating 21st Century Rules on Energy: What Is at Stake for the European Union, the United States and the BRICS?

2018 ◽  
Vol 19 (3) ◽  
pp. 415-443 ◽  
Author(s):  
Ilaria Espa ◽  
Kateryna Holzer
Keyword(s):  
United States ◽  
European Union ◽  
Renewable Energy ◽  
The United States ◽  
Energy Market ◽  
The European Union ◽  
Transatlantic Trade ◽  
Energy Trade ◽  
Trade And Investment ◽  
The Eu

Abstract In the context of the Transatlantic Trade and Investment Partnership (TTIP), the European Union (EU) has taken the lead in promoting the inclusion of a specific chapter on energy trade and investment in order to enhance energy security and promote renewable energy. Irrespective of the success of the TTIP negotiations, the EU proposal can contribute to developing multilateral rules on energy trade and investment. This is especially important given the increased number of energy disputes filed by the EU and the United States against other leading energy market players, including the BRICS. This article provides a normative analysis of the new rules proposed by the EU and reflects on potential responses of BRICS energy regulators. It argues that, while these rules are unlikely to immediately affect BRICS energy practices, they may eventually be ‘imported’ in BRICS domestic jurisdictions in order to promote renewable energy and attract investment in energy infrastructure.

scholarly journals An Experimental Analysis of Price Formation on the Polish Power Exchange

2015 ◽  
Vol 15 (2) ◽  
pp. 115-127
Author(s):  
Ewa Drabik
Keyword(s):  
Electricity Market ◽  
Market Price ◽  
Market Mechanism ◽  
Financial Supervision ◽  
Energy Market ◽  
Price Support ◽  
Transaction Prices ◽  
Power Exchange ◽  
Energy Trade ◽  
And Control

Abstract The Polish energy market gained its competitive character in late 1990s. At that time in majority of European countries a new law was enacted (in Poland – in 1987), which enabled the creation of internal energy markets. The Polish Power Exchange has been functioning since the end of 1999. However, from the very onset it has constituted a vital component of under grounding liberalization of electricity market. Since it was created the Polish Power Exchange has served as a market mechanism for setting objective energy market price. Support and control of the Polish Financial Supervision Authority guarantee the security of concluded transactions. The spot energy market was created as the first one and has functioned according to the rule of the double auction. The model of Sadrieh will be used for the description of the auction rules applied to the spot energy trade on the Polish Power Exchange. Furthermore, an algorithm on the basis of which it is possible to forecast transaction prices is presented. The effectiveness of this algorithm will be compared with other traditional methods of forecasting transaction prices.

Turkey's Path Towards an Energy Market

2019 ◽  
pp. 122-141
Author(s):  
Haşmet Gökirmak
Keyword(s):  
Natural Gas ◽  
Market Access ◽  
Energy Market ◽  
Private Firms ◽  
The Caucasus ◽  
Natural Gas Pipeline ◽  
Capacity Market ◽  
The World ◽  
Oil And Natural Gas ◽  
Pipeline Project

This chapter discusses the possibility of developing an energy market in Turkey. Turkey currently serves as an energy transit corridor, with the Baku-Tbilisi-Ceyhan (BTC) and Kirkuk-Ceyhan pipelines and with its seaborne oil trade, where large volumes are carried by tankers through its straits. Turkey also has the potential to become an energy market with new projects connecting producers in Central Asia, the Middle East, and the Caucasus, and major consumers of oil and natural gas in Europe and other regions of the world. Two recent megaprojects, The Trans Anatolian Natural Gas Pipeline Project (TANAP) and Turkish Stream will move Turkey closer to fulfilling this dream. Turkey, however, needs to meet some requirements to be considered a mature energy market. These are related, among others, to factors such as its infrastructure, storage capacity, market reforms, and easy market access for private firms to actively participate in the energy market.

Uncovering the Hidden Routes: Algorithms for Identifying Paths and Missing Links in Trade Networks

2016 ◽  
Author(s):  
Constantinos Tsirogiannis ◽  
Christos Tsirogiannis
Keyword(s):  
Exact Sequence ◽  
Real World ◽  
Historical Period ◽  
Considerable Part ◽  
Trade Network ◽  
Trade Networks ◽  
Trade Relations ◽  
Network Applications ◽  
Police Investigations ◽  
Illegal Activities

A network is a simple yet powerful tool for representing a set of relations in the real world. For instance, to represent direct business relations between several people, we can sketch a network where each person is represented by a node and any two people that have done business together are connected by a link. A naive analysis of this network gives a picture of the direct connections between individuals, that is, who has done business, in person, with whom. However, for several network applications it is important to observe more complicated structures, other than the direct connections between the nodes. An example comes from applications in trade networks, where goods are exchanged between several people. In this case, it is important to keep track of the paths that specific goods have traversed in a network; in other words, we want to know the exact sequence of nodes through which a specific item was exchanged. Unfortunately, in some studies of trade networks we may not always know the exact path that certain items followed in the network. This is frequently the case with networks that represent trade relations between sites in an earlier historical period; knowledge of the exact trade paths in such networks has not survived and only fragmentary data is available (Sindbæk 2007, 2013; see in this volume Peeples et al. 2016). The same problem also arises in modern trade networks, when the transactions involved are the result of illegal activities. Such an example is the modern trade network in illicit antiquities. During recent decades, thousands of antiquities were illegally excavated worldwide and exchanged via a global trade network. During the late 1990s and 2000s, the combined efforts of forensic archaeologists and police investigators uncovered a considerable part of the trade network that handled illicit Italian and Greek antiquities in particular (Gill and Chippindale 2006; Gill and Tsirogiannis 2011; Godart et al. 2008). However, a large part of the activities that took place within this network remain unknown and there are some transactions that police investigations were not able to trace.

scholarly journals The spatial and temporal dynamics of global meat trade networks

2020 ◽  
Vol 10 (1) ◽  
Author(s):  
Min Gon Chung ◽  
Kelly Kapsar ◽  
Kenneth A. Frank ◽  
Jianguo Liu
Keyword(s):  
Structural Changes ◽  
Temporal Dynamics ◽  
Meat Products ◽  
Network Approach ◽  
Integrated Network ◽  
Global Networks ◽  
Trade Networks ◽  
Environmental Consequences ◽  
Spatial And Temporal Dynamics ◽  
And Cluster Analysis

Abstract Rapid increases in meat trade generate complex global networks across countries. However, there has been little research quantifying the dynamics of meat trade networks and the underlying forces that structure them. Using longitudinal network data for 134 countries from 1995 to 2015, we combined network modeling and cluster analysis to simultaneously identify the structural changes in meat trade networks and the factors that influence the networks themselves. The integrated network approach uncovers a general consolidation of global meat trade networks over time, although some global events may have weakened this consolidation both regionally and globally. In consolidated networks, the presence of trade agreements and short geographic distances between pairs of countries are associated with increases in meat trade. Countries with rapid population and income growth greatly depend on meat imports. Furthermore, countries with high food availability import large quantities of meat products to satisfy their various meat preferences. The findings from this network approach provide key insights that can be used to better understand the social and environmental consequences of increasing global meat trade.

Finding a home for Australian LNG in developing power markets

2019 ◽  
Vol 59 (2) ◽  
pp. 605
Author(s):  
Craig Henderson ◽  
David Miller
Keyword(s):  
Natural Gas ◽  
Liquefied Natural Gas ◽  
Power Markets ◽  
Energy Market ◽  
Market Conditions ◽  
New Markets ◽  
Developing Markets ◽  
Market Trends ◽  
Fuel Source

Recent energy market trends have opened the opportunity to exploit Australian liquefied natural gas (LNG) as a cost-competitive fuel source for power projects in developing markets. Regrettably, having favourable market conditions does not automatically lend itself to projects getting sanctioned and being successful. It is fair to say that the number of projects up and running in the current market is less than expected. This paper aims to explore some of the key reasons why LNG to power projects fail to become a reality and what Australian LNG producers could do to achieve their ambition of creating new markets to sell their LNG into. The paper concludes by outlining several development approaches that are being used in industry and how Australian LNG suppliers can partake in these approaches by standing out from the crowd, framing the opportunity, aligning agreements to the capability of the technology and understanding scale and industrial ecologies.

MANAGING CONFIDENTIALITY AND CONFLICTS OF INTEREST IN A COMPETITIVE ENERGY MARKET

1996 ◽  
Vol 36 (1) ◽  
pp. 594
Author(s):  
P.D. Slattery ◽  
K. Stammer
Keyword(s):  
Natural Gas ◽  
Joint Venture ◽  
Conflicts Of Interest ◽  
Petroleum Industry ◽  
Good Faith ◽  
Energy Market ◽  
Gas Industry ◽  
Competitive Activity ◽  
Exploration And Production

Producers and other participants in the petroleum industry are in the midst of an increasingly competitive energy market. It is now the case that throughout Australia producers of natural gas are competing not just with substitute sources of energy but with one another. No longer do producers only compete for prospective tenements, rather their competitive activity extends from acreage acquisition through to the burner tip. The emergence of deregulation in the gas industry and the opportunities for competitive activity have been discussed at recent APEA conferences.1The aim of this paper is to examine where conflicts between interest and duty may arise between joint venturers who are now directly, or through affiliated companies, competing for marketing opportunities. We examine how and why such conflicts may arise and whether it is possible to manage them while still participating in traditional forms of joint venture exploration, production and in some cases marketing.For example, are producers able to satisfy their obligations of good faith and preserve confidentiality in joint venture exploration and production activities without compromising their ability to independently pursue the marketing of their share of production?

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