scholarly journals Globalization of the Natural Gas Market on Natural Gas Prices in Electric Power Generation and Energy Development

Author(s):  
Thomas J.
Author(s):  
Mike Hightower

Currently, electric power generation is one of the largest water withdrawal and use sectors in the U.S. Additionally, future energy development such as biofuels production, hydrogen fuel or synthetic fuels production, oil shale development, carbon sequestration, or nuclear power development could significantly increase water use and consumption. On the other hand, water resource development — distribution, treatment, and transmission — is one of the largest energy use sectors. As future demands for energy and water continue to increase, competition for water between the energy, domestic, agricultural, and industrial sectors, could significantly impact the availability of water supplies for energy development, thus impacting reliability and security of future energy production and electric power generation. Therefore, it is critical that water and energy resources planning and development be integrated and coordinated across state and regional boundaries. This paper provides a short overview of the emerging energy-water challenges and issues identified in a recent series of national workshops on energy and water related issues as well as summarizing the research and development needs to address these emerging energy and water challenges.


2019 ◽  
Vol 11 (13) ◽  
pp. 3705 ◽  
Author(s):  
Gyeong-Sam Kim ◽  
Hyo-Jin Kim ◽  
Seung-Hoon Yoo

Natural gas (NG) not only emits fewer greenhouse gases and air pollutants than coal but also plays the role of a peak power source that can respond immediately to the variability of increasing renewables. Although the share of NG generation worldwide is increasing, it is difficult for South Korea to increase its NG generation significantly in terms of fuel supply security, since it depends on imports for all of the NG used for power generation. Therefore, the optimal share of NG generation in electric power generation is a serious concern. This note attempts to estimate the optimal share by modelling the plausible relationship between NG generation and national output in the Cobb–Douglas production function setting and then deriving the output-maximizing share of NG generation. The production function is statistically significantly estimated using annual data from 1990 to 2016, allowing for the first-order serial correlation. The optimal share is computed to be 20.3%. Therefore, it is recommended that South Korea increases the share of NG generation slightly and makes efforts to secure a stable NG supply, given that, according to the national plan, the share will be 18.8% in 2030.


2017 ◽  
Vol 4 (2) ◽  
pp. 49
Author(s):  
Duong Thuy Le

This paper examines the causes and behavior of price volatility in the US natural gas market. Although natural gas prices are among the most volatile, they have received limited academic scrutiny heretofore. The study’s main findings are: (1) the natural gas market is characterized by volatility persistence, (2) predicted volatility increases more following a positive shock than an equal negative shock, (3) there are day-of-the-week and month-of-the-year patterns in this market, (4) surprises in the change in natural gas in storage cause increased volatility, (5) volatility tends to be higher during and immediately after bid week, and (6) volatility tends to be higher on winter days when the temperature is lower than normal. The model developed and employed in this research is an improved procedure for testing and quantifying the hypothesized volatility determinants within a GARCH type model.


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