Integration of liberalised energy market

International Nuclear Information System (INIS)

Klinge Jacobsen, H.; Fristrup, P.; Munksgaard, J.; Pade, L.L.; Henriksen, T.C.

2004-03-01

The markets for electricity, natural gas and district heating are inter-linked both with respect to the energy flows and with respect to ownership of supply sources and infrastructure. The extent and the possible consequences of these linkages are examined in this report. The options for public interventions in these markets are analysed to compare instruments with respect to their ability to provide the necessary incentives for an efficient functioning of the liberalised markets. Aspects of retail markets with households facing multi-product distribution companies and aspects of the production of combined heat and power based on natural gas has been covered. This project identifies some important aspects related to final consumers and the interaction of markets with different types of regulation and scope for liberalisation. From a Danish perspective the district heat market and the dependence on market conditions for natural gas is a specific concern. Consumer concerns also relate to the creation of multi-product energy distribution companies that are privately owned and possibly controlled by foreign interests. Such companies might use bundled sales of energy products to extent their dominant position in one market e.g. a regulated heat market to a market with considerable competition (electricity). Bundled sales would not necessarily result in a loss for the consumer due to economies of scope in supplying energy products. However, the regulatory authorities responsible for district heat prices will have a more complicated job in surveying the bundled price setting. Integration of activities within natural gas distribution and CHP production has been analysed with respect to incentives and welfare implications. Results of the project point to critical market conditions and identify areas of concern for regulatory policies. The analysis shows that there is a large welfare loss associated with having monopolies in both natural gas supplies and the CHP production

The British Columbia natural gas market overview and assessment : an energy market assessment

International Nuclear Information System (INIS)

2004-04-01

The National Energy Board monitors the supply of all energy commodities in Canada along with the demand for Canadian energy commodities in domestic and export markets. This report provides an assessment of the natural gas market in British Columbia (BC) and discusses several issues facing the market. The main challenges facing the market in recent years have been rising prices, price spikes and increased price volatility. New exploration and development projects have been announced along with new gas pipeline projects that move gas to eastern markets. Industrial consumers are exploring fuel alternatives to reduce natural gas consumption. Despite these challenges, the Board believes the natural gas market in British Columbia is working well. Natural gas prices are integrated with the North American market, consumers have responded to higher prices by reducing demand, and producers have increased exploration and production. Price discovery has improved due to better pricing reporting standards and access to electronic gas trading at pricing points for BC gas. The small market size in British Columbia and the lack of storage in the Lower Mainland limit market liquidity in comparison with other major market centres. 20 figs

Evolving markets and new end use gas technologies

International Nuclear Information System (INIS)

Overall, J.

1995-01-01

End use gas technologies, and products for residential, commercial, and industrial uses were reviewed, and markets and market drivers needed for end use technologies in the different types of markets were summarized. The range of end use technologies included: gas fireplaces, combination heating/water heating systems, integrated appliance such as heating/ventilation units, gas cooling, and space cooling for commercial markets. The present and future status of each product market was discussed. Growing markets such as cogeneration, and gas turbine technology also received attention, along with regulatory and environmental concerns. The need to be knowledgeable about current market drivers and to introduce new ones, and the evolution of technology were emphasized as means by which the industry will continue to be able to exert a decisive influence on the direction of these markets

Market efficiency, cross hedging and price forecasts: California's natural-gas markets

International Nuclear Information System (INIS)

Woo, C.K.; Olson, A.; Horowitz, I.

2006-01-01

An extensive North American pipeline grid that physically integrates individual natural-gas markets, in conjunction with economic ties binding the California markets to those at Henry Hub, Louisiana and the New York mercantile exchange via an array of financial instruments, suggests that the spot prices at Henry Hub will impact those in California. We verify the suggestion via a partial-adjustment regression model, thus affirming that California traders can exploit the cross-hedging opportunities made available to them via market integration with Henry Hub, and that they can accurately forecast the price they will have to pay to meet future demand based solely on the price of futures at Henry Hub and the price of a California natural-gas basis swaps contract. (author)

Liberalisation of the EU gas market. Lessons learned from other markets and countries

International Nuclear Information System (INIS)

Bisgaard, T.

2003-11-01

In this report the EU's Gas Directive 2003/55/EC is evaluated to determine whether it lays an adequate regulatory foundation to create and enhance a future competitive gas market in Europe; at national level as well as across borders. The aim is to enable the gas market to become an integrated part of the European single market. Experiences are drawn upon from the electricity and telecom markets, and from the UK and the US, that have undergone similar liberalisation processes. A market in transition from a monopoly to a liberalised market should be subject to a certain kind of regulation that is not applicable to other markets. The regulation must be designed in a way that gives the market room for development. The evaluation in this report is based on four requirements deemed important by the OECD for a changing market like the gas market. The four requirements that should be considered when regulating the gas market are: 1. Third party access to infrastructure, 2. The degree of un-bundling, 3. The regulation of tariffs, and 4. The type of regulatory authority to oversee the gas market. The report concludes that the Gas Directive provides sufficient regulation for creating competition in the national gas markets, but that it is vital to provide legislation that will harmonise rules across Europe and create the appropriate incentives for future investments in the gas structure. (BA)

Opportunities and challenges in developing gas markets in South America

Energy Technology Data Exchange (ETDEWEB)

Duarte, Cristiano Boaventura [PETROBRAS S.A., Rio de Janeiro, RJ (Brazil)

2008-07-01

The article has the objective of identifying and analyzing the key market levers and drivers, emerging issues and challenges in developing the gas markets in South America. In section 1, the paper provides an overview of the most relevant indicators in the natural gas markets of the region. Data such as natural gas proven reserves; production; consumption; trade movements (by pipeline and LNG) and main aspects of regulatory framework are shown. In section 2, some of the key challenges and opportunities in developing gas markets in the region are identified, including those relating to market integration, political aspects and the main players' investments. In section 3, possible strategies from governments and enterprises to overcome those challenges, and seize the potential opportunities of the region are examined. In section 4, the conclusions point to the potential of developing the gas markets as a means to diversify the energy sources in the region, fostering a successful process of economic growth and political integration in the area. (author)

Russian natural gas policy and its possible effects on European gas markets

International Nuclear Information System (INIS)

Quast, O.; Locatelli, C.

1997-01-01

There is a growing perception among Western European gas experts that Russia has developed a considerable gas surplus - the Russian gas bubble. Thus, the question clearly arises how much gas is available for export and how much gas, over the next 15 to 20 years, can the Russian quasi-monopolist Gazprom market in Western Europe. We consider that Gazprom's export strategy mirrors the approach of Russia's natural gas policy towards the Western European market. In this paper, we will focus on the characteristics of Gazprom's export strategy, its underlying logic, and its impact on Western European gas markets. As a consequence of Gazprom's export strategy, the Russian gas company faces today a price quantity dilemma. Gazprom's problem is to place as much gas as possible in the growing Western European gas market, without destroying downstream gas prices. We argue that Gazprom has adopted a market share expansion and downstream vertical integration strategy, aimed at capturing a part of the downstream gas rent. Although this strategy appears to have initiated a form of gas to gas competition in a number of European consumer markets, this strategy is not based on an aggressive price policy. However, in order to live up to its ambitions, there is a chance that Gazprom will have to somewhat relax traditional contract clauses, such as contract length, indexation terms and take or pay conditions. (author)

Natural gas marketing II

International Nuclear Information System (INIS)

Anon.

1988-01-01

This book covers all aspects of gas marketing, from the basic regulatory structure to the latest developments in negotiating agreements and locating markets. Topics include: Federal regulation of the gas industry; Fundamentals of gas marketing contracts; FERC actions encouraging competitive markets; Marketing conditions from the pipelines' perspective; State non-utility regulation of natural gas production, transportation, and marketing; Natural gas wellhead agreements and tariffs; Natural gas processing agreements; Effective management of producer's natural gas contracts; Producer-pipeline litigation; Natural gas purchasing from the perspective of industrial gas users; Gas marketing by co-owners: problems of disproportionate sales, gas balancing, and accounting to royalty owners; Alternatives and new directions in marketing

Gas markets and security of supply

International Nuclear Information System (INIS)

Gibot, G.

1997-01-01

In the natural gas business, some European states and companies seem to be concerned by security of supply. Security of supply for a governmental organisation is discussed, to share the author's conception and experience. The targets of a security of supply policy and the measures that can be set are described. The possible changes in implementing this policy are considered, according to recent developments in the field of gas security. The specificity of European gas markets justify the concern in security of supply, as concluded the Commission and the IEA. The integration of national gas markets in Europe will give new opportunities for managing this security of supply. (R.P.)

ABARE gas market study to evaluate impact of reforms

International Nuclear Information System (INIS)

Harman, J.

2000-01-01

ABARE has conducted Research into the Australian gas market for many years. For example, studies have examined the costs and benefit of interconnections in the gas and electricity markets (Dalziell et al 1993) and the net economic benefits of the oil and gas extraction industry (Hogan et al 1996). The biennial energy supply and demand projections published for more than 20 years) provide detailed and reliable energy forecasts. The most recent study (Bush et al 1999) found that natural gas consumption was expected to grow at an average rate of almost 4.4 percent to 2014-15, representing an increase to around 28 percent of total energy market share. Energy market and policy developments will effect the actual rate of growth of gas consumption. Major trends in the gas market which are raising important issues include an integration of regional gas markets through the construction of new gas pipelines and increasing interstate trade in gas, new access regimes in the transmission and distribution sector, along with increasing customer contestability in the retail markets

Canadian natural gas market: dynamics and pricing

International Nuclear Information System (INIS)

2000-01-01

This publication by the National Energy Board is part of a continuing program of assessing applications for long-term natural gas export licences. The market-based procedure used by the Board is based on the premise that the marketplace will generally operate in a way that will ensure that Canadian requirements for natural gas will be met at fair market prices. The market--based procedure consists of a public hearing and a monitoring component. The monitoring component involves the on-going assessment of Canadian energy markets to provide analyses of major energy commodities on either an individual or integrated commodity basis. This report is the result of the most recent assessment . It identifies factors that affect natural gas prices and describes the functioning of regional markets in Canada. It provides an overview of the energy demand, including recent trends, reviews the North American gas supply and markets, the natural gas pricing dynamics in Canada, and a regional analysis of markets, prices and dynamics in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and the Atlantic provinces. In general, demand growth outstripped growth in supply, but natural gas producers throughout North America have been responding to the current high price environment with aggressive drilling programs. The Board anticipates that in time, there will be a supply and demand response and accompanying relief in natural gas prices. A review of the annual weighted average border price paid for Alberta gas indicates that domestic gas users paid less than export customers until 1998, at which point the two prices converged, suggesting that Canadians have had access to natural gas at prices no less favourable than export customers. The influence of electronic trading systems such as NYMEX and AECO-C/NIT have had significant impact on the pricing of natural gas. These systems, by providing timely information to market participants. enables them to manage price

Natural gas markets integration in the Southern Cone: analysis of interests and stakeholders; Perspectivas para a integracao gasifera no Cone Sul: uma analise dos principais interesses e interessados

Energy Technology Data Exchange (ETDEWEB)

Villas Boas, Marina Vieira [PETROBRAS, Rio de Janeiro, RJ (Brazil)

2004-07-01

Natural gas has been recently gaining importance in the world energy mix especially because of its economical and environmental advantages but also because of technological and geopolitical issues. In the Southern Cone, natural gas demand shall maintain its upward trend in the next years mainly due to its use in power generation. This region owns significant natural gas reserves and, at the same time, a growing and with high potential market. In this scenario, natural gas markets integration is seen simultaneously as an opportunity and a necessity as it can contribute to demand and production interconnection, price competitiveness and security of supply. Nevertheless, there are important barriers to the consolidation of natural gas market integration in the Southern Cone region that have to be overcome. For the natural gas markets integration to be a sustainable project it is necessary to identify the major stakeholders and their interests and pursue a balance between them. (author)

The law of one price in global natural gas markets. A threshold cointegration analysis

Energy Technology Data Exchange (ETDEWEB)

Nick, Sebastian; Tischler, Benjamin

2014-11-15

The US and UK markets for natural gas are connected by arbitrage activity in the form of shifting trade volumes of liquefied natural gas (LNG). We empirically investigate the degree of integration between the US and the UK gas markets by using a threshold cointegration approach that is in accordance with the law of one price and explicitly accounts for transaction costs. Our empirical results reveal a high degree of market integration for the period 2000-2008. Although US and UK gas prices seemed to have decoupled between 2009 and 2012, we still find a certain degree of integration pointing towards significant regional price arbitrage. However, high threshold estimates in the latter period indicate impediments to arbitrage that are by far surpassing the LNG transport costs difference between the US and UK gas market.

Canadian natural gas market dynamics and pricing : an update

International Nuclear Information System (INIS)

2002-10-01

This energy market assessment (EMA) report discusses natural gas price formation and describes the current functioning of regional gas markets in Canada. This EMA also describes the factors affecting the price of natural gas in Canada and examines natural gas markets on a region-by region basis. It is shown that as part of an integrated North American market, prices of natural gas in Canada reflect supply and demand factors in both Canada and the United States. During the low oil price period of 1997/1998, high demand for natural gas outpaced the supply because of low drilling and production activity by producers. In response to the increased demand and lower levels of supply, the price of natural gas increased significantly in 1999 and 2000. This was followed by a period of market adjustment. The importance of electronic trading systems for enhancing price discovery was also discussed with reference to how spot and futures markets allow market participants to manage price volatility. It was determined that Canadians have had access to natural gas on terms and conditions equal to export customers, and at equal pricing. In early November 2000, natural gas prices in North American began to rise due to low levels of natural gas in storage. The price shocks were felt unevenly across the North American market. In response to the high prices, consumers conserved energy use, and many industrial users switched to cheaper fuels. By the spring 2001, demand continued to decrease at a time when production was high. These factors contributed to the downward pressure on gas prices. This EMA discusses the structure of market transactions and market adjustment mechanisms. It is presented in the context of the approaching 2002/2003 winter season where the tightening between natural gas supply and demand is expected to result in price volatility. 28 figs

Competition and trade in Australian gas markets

International Nuclear Information System (INIS)

Holmes, Leanne; Mander, Sally

1993-01-01

Although Australia has large gas reserves, the bulk of reserves (about 80 per cent) are located on the North West Shelf, off Western Australia. On the other had, the major demand centres are located in the south east of the country. The relative scarcity of proven gas reserves close to major markets has meant that governments in the state and territories with reserves have a strong vested interest in the future use of the gas. Equally, governments in states and territories that do not have gas reserves are interested in securing future supplies. The scope for increasing competition and trade in Australian gas markets depends on a number of features of the industry. These include: the characteristics of the resource, the structure of supply including the presence of natural monopolies, the nature and extent of upstream or downstream integration of firms and the presence of long term contracts - the characteristics of gas demand, and the regulatory and policy framework. The main purpose in this article is to review the economic factors driving natural gas markets in Australia, highlighting the factors influencing competition and trade. Against this background, some options for reform are also examined. 30 refs., 6 figs

Securing growth markets for natural gas

International Nuclear Information System (INIS)

Evans, G.

1999-01-01

The Industry Development Strategy 2000-2005 (IDS) identifies the major growth markets for natural gas, as the industry readies itself for the challenges of the new millenium. An integral part of this process is to examine the key barriers to market expansion, and to devise strategies that both The Australian Gas Association (AGA) and the wider industry can pursue to underpin improvement in overall gas consumption. This is the task of the IDS which examines the opportunities confronting the industry over the next five year period. The significant growth prospects of the gas industry both in the short term (2000-2005) and long term (2005-2015) are indicated in two comprehensive and independent studies. The first, Australian Energy Market Developments and Projections to 2014-15, was released earlier this year by the Australian Bureau of Agricultural and Resource Economics (the ABARE Energy Report). The second, Natural Gas Consumption in Australia to 2015-Prospects by State, Industry and Sector, was commissioned by the AGA, and was completed by the National Institute of Economic and Industry Research in September 1999 (NIEIR Report). Both reports indicate that in terms of consumption levels, in the period up to 2015 the gas industry is forecast to more than double its current size. Natural gas is also projected to increase its primary energy share ranking from third to second place

The natural gas market

International Nuclear Information System (INIS)

Lagrasta, F.; Kaminski, V.; Prevatt, R.

1999-01-01

This chapter presents a brief history of the natural gas market highlighting the changes in the gas market and examining risk management in practice detailing the types of price risks, and the use of hedging using forwards and swaps. Options to manage risk are identified, and the role of risk management in financing, the role of the intermediary, and the market outlook are discussed. Panels describing the market structure, storage and natural gas risk management, the art of risk management, the winter 1995-96 basis blowout, spark spreads, the UK gas market and Europe, and weather derivatives are presented

Integral or integrated marketing

Directory of Open Access Journals (Sweden)

Davčik Nebojša

2006-01-01

Full Text Available Marketing theorists and experts try to develop business efficient organization and to get marketing performance at higher, business integrated level since its earliest beginnings. The core issue in this paperwork is the dialectic and practical approach dilemma should we develop integrated or integral marketing approach in the organization. The presented company cases as well as dialectic and functional explanations of this dilemma clearly shows that integrated marketing is narrower approach than integral marketing if we take as focal point new, unique and completed entity. In the integration the essence is in getting different parts together, which do not have to make necessary the new entity. The key elements in the definition of the integral marketing are necessity and holistic, e.g. necessity to develop new, holistic entity.

Asymmetric price responses, market integration and market power: A study of the U.S. natural gas market

International Nuclear Information System (INIS)

Murry, Donald; Zhu, Zhen

2008-01-01

We studied the market performance at selected, representative natural gas trading hubs in the U.S. and documented different price behaviors among various hubs. With NYMEX prices as the competitive benchmark, we found empirically that the spot price responses at some trading hubs were systematically asymmetric, thus demonstrating a market advantage by either buyers or sellers. We further found that the presence of market power was a very plausible explanation for this price behavior at some hubs. (author)

Natural gas supply in Denmark - A model of natural gas transmission and the liberalized gas market

International Nuclear Information System (INIS)

Bregnbaek, L.

2005-01-01

In the wake of the liberalization of European energy markets a large area of research has spawned. This area includes the development of mathematical models to analyze the impact of liberalization with respect to efficiency, supply security and environment, to name but a few subjects. This project describes the development of such a model. In Denmark the parallel liberalization of the markets of natural gas and electricity and the existence of an abundance of de-centralized combined heat and power generators of which most are natural gas fired, leads to the natural assumption that the future holds a greater deal of interdependency for these markets. A model is developed describing network flows in the natural gas transmission system, the main arteries of natural gas supply, from a technical viewpoint. This yields a technical bounding on the supply available in different parts of the country. Additionally the economic structure of the Danish natural gas market is formulated mathematically giving a description of the transmission, distribution and storage options available to the market. The supply and demand of natural gas is put into a partial equilibrium context by integrating the developed model with the Balmorel model, which describes the markets for electricity and district heat. Specifically on the demand side the consumption of natural gas for heat and power generation is emphasized. General results and three demonstration cases are presented to illustrate how the developed model can be used to analyze various energy policy issues, and to disclose the strengths and weaknesses in the formulation. (au)

The role of Liquefied Natural Gas (LNG) in the European gas market

International Nuclear Information System (INIS)

Mahan, A.

2003-06-01

The purpose of this paper is to discuss the role that Liquefied Natural Gas (LNG) might play in the future EU gas market. LNG imports are not likely to have a place in the Netherlands soon, but they could make an important contribution to the volume and diversity of Europe's gas supplies. An important characteristic of LNG is its inherently high costs, throughout the whole chain, from the wellhead to the market. These costs are considerably higher than the costs of bringing oil to the market. Cost considerations, in combination with the rigidity of the gas market, have led to the use of long-term contracts as a basis for the business, as is the case for the long haul pipeline gas business. Costs have come down considerably and further cost reductions are 'in the pipeline'. While this does not alter the fundamentals of the business it has nonetheless helped to extend the reach of LNG. LNG from the Middle East to Europe has now become economically feasible. The high gas prices of recent years have further fuelled the expansion of the LNG business. Supported by a rapidly growing global economy at the turn of this century, many prospects are under development. The positive economic outlook has seen more speculative positioning in every segment of the LNG chain, while more vertical integration has been industry's response to market liberalisation. The more recent slowdown of the market economies has created a surplus of LNG, which is finding its way onto the markets through short-term and spot transactions. The short-term business will grow over the next few years as more LNG and shipping capacity comes on-stream. However, given underlying high costs and limited flexibility, it should be expected that new projects, currently under consideration, will only be developed on the basis of long-term contracts, thus returning to a balance between supply and demand. For these same reasons, LNG will not likely develop the same the liquidity as that of the oil market. The global

The impact of the shale gas revolution on the U.S. and Japanese natural gas markets

International Nuclear Information System (INIS)

Wakamatsu, Hiroki; Aruga, Kentaka

2013-01-01

We investigated whether the increase in the US shale gas production changed the structures of the US and Japanese natural gas markets using market data for the period 2002:5–2012:5. Our analysis consists of a structural break test and market integration analysis. The Bai and Perron structural break test detected a break point of natural gas prices and consumption in 2005 as well as other external shocks – Hurricane Katrina and the Lehman Shock – that are irrelevant to shale gas development. We eliminated the impact of these shocks by separating the data set using the breaks identified in our analysis. We found the breaks skewed the estimation; a market linkage existed between the US and Japanese markets in the original data set, while it did not in the separated data. The vector autoregressive (VAR) model also indicated a significant change before and after the break point; the US market had a one-side influence on the Japanese market before 2005, but the influence disappeared after 2005. Our results implied that the shale gas revolution, triggered by the increase in shale gas production in 2005, caused the change in the relationship between the US and Japanese natural gas markets. -- Highlights: •We investigated the effect of the US shale gas revolution on gas markets. •A break test detected the shale gas revolution occurred in 2005. •The VAR model found a significant change before and after the break point. •The US influence on the Japanese market disappeared after 2005

Bi-directional causality in California's electricity and natural-gas markets

International Nuclear Information System (INIS)

Woo, Chi-Keung; Olson, Arne; Horowitz, Ira; Luk, Stephen

2006-01-01

The Granger instantaneous-causality test is applied to explore the potential causal relationships between wholesale electricity and natural-gas prices in California. The test shows these relationships to be bi-directional, and reveals California's electricity and natural-gas markets to be as inextricably intertwined as casual observation and theoretical considerations would suggest they ought to be. This meshing of markets exacerbated the effects of California's natural-gas crisis on the contemporaneous electricity crisis, while concurrently the electricity crisis may have contributed to the dysfunction in the national-gas market and helped to precipitate the natural-gas crisis. The finding supports an integrated approach, as opposed to a piecemeal approach, for formulating energy policy recommendations, not just in California but in the world at large

Market failures and government policies in gas markets

International Nuclear Information System (INIS)

Mulder, M; Zwart, G.

2006-02-01

This memorandum analyses the fundamental characteristics of the natural gas market and its consequences for government policies. In the past, the European gas market was dominated by state-owned monopolists but since the start of the liberalisation, privatisation and re-regulation in the early 1990s, the market has fundamentally changed. Nevertheless, governments are still involved in the gas industry, not only in gas exporting countries such as Russia, but also in a country like the Netherlands where the government has imposed a cap on production from the main gas field (Groningen) as well as owns shares in the main wholesale trader (Gasunie Trade and Supply) which has the obligation to accept all gas offered by producers on the small fields. In the main report of this project we present a cost-benefit analysis of the Dutch gas-depletion policy. In this memorandum we explore the natural-gas market more broadly, looking for factors why government intervention may be needed using the welfare-economic approach according to which government intervention should be based on the presence of market failures. After a brief description of the main characteristics of the gas industry, we systematically analyse sources of market failures, such as geopolitical factors, economies of scale and externalities, and finally go into the question which policy options may be chosen to address those market failures

Natural gas marketing and transportation

International Nuclear Information System (INIS)

Anon.

1991-01-01

This book covers: Overview of the natural gas industry; Federal regulation of marketing and transportation; State regulation of transportation; Fundamentals of gas marketing contracts; Gas marketing options and strategies; End user agreements; Transportation on interstate pipelines; Administration of natural gas contracts; Structuring transactions with the nonconventional source fuels credit; Take-or-pay wars- a cautionary analysis for the future; Antitrust pitfalls in the natural gas industry; Producer imbalances; Natural gas futures for the complete novice; State non-utility regulation of production, transportation and marketing; Natural gas processing agreements and Disproportionate sales, gas balancing, and accounting to royalty owners

Market development in the natural gas market

International Nuclear Information System (INIS)

Kuenneke, R.W.; Arentsen, M.J.; Manders, A.M.P.; Plettenburg, L.A.

1998-01-01

Options for the liberalization of the Dutch natural gas market have been investigated. Three models are compared and assessed for the impacts on the economic performance, the national interests and the so-called public tasks. The results of the report can be used to base the proposals for a new Natural Gas Act, which is expected to be sent to the Dutch parliament in the spring of 1999. The three liberalization models are specified according to the different phases in the industrial column of natural gas. Except for transport (limited possibilities) and distribution (monopolistic character and thus not suitable for market development), market development is possible in all the phases of the column. The models are the cooperation model (equal position for the natural gas trade company Gasunie and the natural gas distribution companies, and management of the natural gas infrastructure and the Dutch gas reserves by means of mutual tuning, cooperation and coordination), the EZ-model (price mechanism for the tariffs for natural gas, and access to the natural gas network through negotiated third party access (TPA) with indicative prices and conditions), and the market model (optimal use of market development options to stimulate the economic performance, introduction of price mechanism options, access through regulated TPA with tariffs, based on long-term marginal costs, role of the government limited to a favorable policy with respect to access to the network, competition and security of the interests which arise from the exploitation of the Dutch natural gas fields). 26 refs

Gas marketing strategies for Ontario producers

Energy Technology Data Exchange (ETDEWEB)

Walsh, P.R. [Energy Objective Ltd., London, ON (Canada)

2000-07-01

Activity in natural gas exploration and production in the province of Ontario has recently increased due to higher natural gas prices. This paper discussed the issue of how the gas from the new reserves should be marketed. A review of historical pricing and consumption patterns was also presented to better identify how prices of natural gas are determined in Ontario and to forecast the future demand for natural gas. The first trend of interest is the increased use of natural gas in generating electricity to meet cooling needs in the summer months. The second trend is the increase in gas consumption by the industrial sector resulting from increases in process load. Several marketing options are available to Ontario natural gas producers. They can market their gas to third parties at various trading points in the province or they can market it directly to Union Gas Limited, the local gas utility. This paper briefly described how a gas supply contract works with the union, how gas marketing agreement is conducted with a gas marketer, and how a gas marketing arrangement works with a consultant. Some of the pitfalls of marketing natural gas were also described and some recommended some strategies for selling natural gas in the future were presented. 7 figs.

Gas marketing strategies for Ontario producers

International Nuclear Information System (INIS)

Walsh, P.R.

2000-01-01

Activity in natural gas exploration and production in the province of Ontario has recently increased due to higher natural gas prices. This paper discussed the issue of how the gas from the new reserves should be marketed. A review of historical pricing and consumption patterns was also presented to better identify how prices of natural gas are determined in Ontario and to forecast the future demand for natural gas. The first trend of interest is the increased use of natural gas in generating electricity to meet cooling needs in the summer months. The second trend is the increase in gas consumption by the industrial sector resulting from increases in process load. Several marketing options are available to Ontario natural gas producers. They can market their gas to third parties at various trading points in the province or they can market it directly to Union Gas Limited, the local gas utility. This paper briefly described how a gas supply contract works with the union, how gas marketing agreement is conducted with a gas marketer, and how a gas marketing arrangement works with a consultant. Some of the pitfalls of marketing natural gas were also described and some recommended some strategies for selling natural gas in the future were presented. 7 figs

International markets for greenhouse gas emission reduction policies - possibilities for integrating developing countries

DEFF Research Database (Denmark)

Halsnæs, K.; Olhoff, A.

2005-01-01

Greenhouse gas (GHG) emissions are affecting a global common: the climate, and as a global environmental problem with a public good character it provides attractive opportunities for minimising control costs through the use of emission trading markets. This paper introduces cost and benefit princ...... principles that can be applied to the assessment of global markets for GHG emission reduction options and evaluates the scope for and the potential economic gains of such markets.......Greenhouse gas (GHG) emissions are affecting a global common: the climate, and as a global environmental problem with a public good character it provides attractive opportunities for minimising control costs through the use of emission trading markets. This paper introduces cost and benefit...

Integration of liberalised energy market; Samspillet mellem de liberaliserede energimarkeder

Energy Technology Data Exchange (ETDEWEB)

Klinge Jacobsen, H.; Fristrup, P.; Munksgaard, J.; Pade, L.L.; Henriksen, T.C.

2004-03-01

The markets for electricity, natural gas and district heating are inter-linked both with respect to the energy flows and with respect to ownership of supply sources and infrastructure. The extent and the possible consequences of these linkages are examined in this report. The options for public interventions in these markets are analysed to compare instruments with respect to their ability to provide the necessary incentives for an efficient functioning of the liberalised markets. Aspects of retail markets with households facing multi-product distribution companies and aspects of the production of combined heat and power based on natural gas has been covered. This project identifies some important aspects related to final consumers and the interaction of markets with different types of regulation and scope for liberalisation. From a Danish perspective the district heat market and the dependence on market conditions for natural gas is a specific concern. Consumer concerns also relate to the creation of multi-product energy distribution companies that are privately owned and possibly controlled by foreign interests. Such companies might use bundled sales of energy products to extent their dominant position in one market e.g. a regulated heat market to a market with considerable competition (electricity). Bundled sales would not necessarily result in a loss for the consumer due to economies of scope in supplying energy products. However, the regulatory authorities responsible for district heat prices will have a more complicated job in surveying the bundled price setting. Integration of activities within natural gas distribution and CHP production has been analysed with respect to incentives and welfare implications. Results of the project point to critical market conditions and identify areas of concern for regulatory policies. The analysis shows that there is a large welfare loss associated with having monopolies in both natural gas supplies and the CHP production

Alaska gas pipeline and the global natural gas market

International Nuclear Information System (INIS)

Slutz, J.

2006-01-01

The global natural gas market was discussed in relation to the Alaska natural gas pipeline project. Natural gas supply forecasts to the year 2025 were presented. Details of the global liquefied natural gas (LNG) market were discussed. Charts were included for United States natural gas production, consumption, and net imports up to the year 2030. The impact of high natural gas prices on the manufacturing sector and the chemicals industry, agricultural, and ethanol industries were discussed. Natural gas costs around the world were also reviewed. The LNG global market was discussed. A chart of world gas reserves was presented, and global LNG facilities were outlined. Issues related to the globalization of the natural gas trade were discussed. Natural gas imports and exports in the global natural gas market were reviewed. A chart of historical annual United States annual LNG imports was presented. tabs., figs

Marketing San Juan Basin gas

International Nuclear Information System (INIS)

Posner, D.M.

1988-01-01

Marketing natural gas produced in the San Juan Basin of New Mexico and Colorado principally involves four gas pipeline companies with significant facilities in the basin. The system capacity, transportation rates, regulatory status, and market access of each of these companies is evaluated. Because of excess gas supplies available to these pipeline companies, producers can expect improved take levels and prices by selling gas directly to end users and utilities as opposed to selling gas to the pipelines for system supply. The complexities of transporting gas today suggest that the services of an independent gas marketing company may be beneficial to smaller producers with gas supplies in the San Juan Basin

Norwegian Natural Gas. Liberalization of the European Gas Market

International Nuclear Information System (INIS)

Austvik, Ole Gunnar

2003-01-01

Leading abstract. This book focuses on issues that are important for Norway as a major gas exporter and to the development of a liberalized European market. Chapter 2 explains main features of the European gas market. Natural gas is sold in regional markets with independent pricing structure and particularities. In Europe, this has led to large investments for the producers and long-term contracts. The strong market growth and EU's actions to liberalize the market may change this. The organization of the Norwegian gas production and sale is discussed, as well as the reorganization taking place in 2001. Pricing mechanisms are discussed in Chapter 3, both in the ''old'' / existing structure and how a liberalization of the market may change price formation. The increased importance of energy taxation in EU countries is covered in Chapter 4. Even though natural gas is the most environmentally friendly of the fossil fuels, the use of natural gas may be taxed far harder in the future. The report discusses price effects of such a development. Chapter 5 discusses whether or not a gas producer, like Norway, necessarily must earn a resource rent. With the use of economic theory for exhaustible resources it is shown how prices to consumers may increase at the same time as prices to producers drop, where the difference is made up by higher gas taxes to the consuming countries. Transportation of natural gas involves considerable scale advantages and there are often scope advantages from production, storage and sale, as well. Chapter 6 discusses how competition and regulation may influence the functioning and social efficiency of the market, and the concentration of market power. When companies become large, they may exploit market power, supported by the authorities of their respective countries. Chapter 7 focuses on regulatory challenges for the EU, and how the transporters may change between conflicting and cooperation with the EU. Chapter 8 focuses on schedules for

European wood pellet market integration - A study of the residential sector

International Nuclear Information System (INIS)

Olsson, Olle; Hillring, Bengt; Vinterbaeck, Johan

2011-01-01

The integration of European energy markets is a key goal of EU energy policy, and has also been the focal point of many scientific studies in recent years. International markets for coal, oil, natural gas and electricity have previously been investigated in order to determine the extent of the respective markets. This study enhances this field of research to bioenergy markets. Price series data and time series econometrics are used to determine whether residential sector wood pellet markets of Austria, Germany and Sweden are integrated. The results of the econometric tests show that the German and Austrian markets can be considered to be integrated, whereas the Swedish market is separate from the other two countries. Although increased internationalization of wood pellet markets is likely to contribute to European price convergence and market integration, this process is far from completed. (author)

A Journey from Regional Gas Markets to a Global Gas Market

International Nuclear Information System (INIS)

Waterlander, O.; Schlaak, T.; Donohue, T.; Sarraf, G.

2008-06-01

According to the authors understanding the landscape of gas markets in the short and medium terms has never been as challenging as it is today. In this article, they describe three potential market scenarios to illustrate the drivers of market globalization: (1) A supply-driven imbalance in which the Middle East's export ability is constrained; (2) A demand-driven imbalance in which binding CO2 legislation in the U.S. gives a sharp boost to gas-fired power generation; and (3) A scenario in which both situations occur in concert.

Effects of a Liberalized European Gas Market

International Nuclear Information System (INIS)

Austvik, Ole Gunnar

2003-01-01

improves efficiency. In fact, an increase in the number of actors in such markets, per se, may increase cost, and, thus, represent a waste of resources. Usually, but not necessarily, state owned firms are privatised (even though the government may hold a significant share, or control over, the ownership), the operation of vertically integrated services are separated (''unbundled''), competition is established when possible and regulation introduced when necessary (when competition does not work). In the case of natural gas, the U.S. and Canada liberalized their markets in the mid 1980s. Later, gas markets in the U.K., and then Australia and New Zealand, followed. Now, in the European natural gas industry, both market growth and infrastructural developments, as well as political decision making, forcing competition on to firms, is now creating a more competitive environment. In order to analyze these issues in relation to Norway as a major natural gas exporter we have studied the development of EU energy policies, price effects of liberalism, energy taxation, the economics of non-renewable (exhaustible) resources and regulatory economics as well as foreign policy issues concerning security-of-supply issues. The complexity and interdisciplinary insights needed to analyze the European gas market makes it even more complex than analyses of the global oil market. In the European gas market, the problem of choosing the right in-depth level and correct parameters and discipline to apply, becomes particularly apparent and challenging. For most analysts and policy makers, it seems to be an overwhelming task to describe exactly how a liberalized European gas market works, how it should be organized and will develop. In this analysis of the political economy of European gas, we will nevertheless try to shed some light on the causes and effects of what may happen

Gas suppliers meeting market opening

International Nuclear Information System (INIS)

Verberg, G.H.B.; Jaidah, N.K.; Eriksen, R.; Alvarez Pelegry, E.

2003-01-01

Natural gas, with its environmental advantages, will increase its development in the residential, professional and transportation markets. It will ensure the transition during the progressive implementation of more sustainable energy sources. This paper discusses some possible impacts of the deregulation on the future gas market (investments, risk management, competition, contracts). It is followed by a round table about the expectations of some gas producers (Qatar, Sweden) in front of the development of the European gas market (LNG projects, financing, contracts). (J.S.)

Gas in the heat market

Energy Technology Data Exchange (ETDEWEB)

Eckert, L

1981-02-01

An explanation of the various ideas about market delimitations (heat market - gas market) and of the competitive and legal situation is followed by a description of the market situation for gas in the sectors industry and household, commerce and trade. Opportunities available for gase are pointed out by listing the most important substitute energy sources for piped gas in the different fields of application. On the issue of conversion costs being an obstacle to substitution or competition, a few examples are given of the ration of conversion costs to fuel costs arising in industrial firms. A number of economic evaluations are made concerning the utilization of gas in space heating systems.

Central European gas market perspectives

International Nuclear Information System (INIS)

Vanous, Jan

1999-01-01

This presentation deals with (1) Definition of the Central European market, (2) Factors driving up consumption of natural gas in Central and Eastern Europe, (3) Role of natural gas in regional energy consumption, (4) Position of natural gas in individual country markets, (5) Future sources of imported natural gas into the region. The Central European market are the eleven countries Albania, Bulgaria, Croatia, Czech Republic, Hungary, Macedonia, Poland, Romania, Serbia and Montenegro, Slovakia, and Slovenia, with a total population of 121 million. This market is comparable to combined France and Italy in terms of population, but only 30% of its size in terms of GDP

CO2 abatement policies in the power sector under an oligopolistic gas market

International Nuclear Information System (INIS)

Hecking, Harald

2014-01-01

The paper at hand examines the power system costs when a coal tax or a fixed bonus for renewables is combined with CO 2 emissions trading. It explicitly accounts for the interaction between the power and the gas market and identifies three cost effects: First, a tax and a subsidy both cause deviations from the cost-efficient power market equilibrium. Second, these policies also impact the power sector's gas demand function as well as the gas market equilibrium and therefore have a feedback effect on power generation quantities indirectly via the gas price. Thirdly, by altering gas prices, a tax or a subsidy also indirectly affects the total costs of gas purchase by the power sector. However, the direction of the change in the gas price, and therefore the overall effect on power system costs, remains ambiguous. In a numerical analysis of the European power and gas market, I find using a simulation model integrating both markets that a coal tax affects gas prices ambiguously whereas a fixed bonus for renewables decreases gas prices. Furthermore, a coal tax increases power system costs, whereas a fixed bonus can decrease these costs because of the negative effect on the gas price. Lastly, the more market power that gas suppliers have, the stronger the outlined effects will be.

Electricity and gas market observatory 1. Quarter 2009

International Nuclear Information System (INIS)

2009-01-01

The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1. of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status on March 31, 2009, Dynamic analysis: 1. Quarter 2009), The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market). B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on March 31. 2009, Dynamic analysis: 1. Quarter 2009), The wholesale gas market (Main steps in the French Wholesale gas market, Gas pricing and gas markets in Europe, The wholesale market in France, Prices on the French wholesale market and European comparison, Concentration of the French gas market) C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

The European natural gas market

International Nuclear Information System (INIS)

Hagland, Jan

2001-01-01

An increasing amount of natural gas is flowing into continental Europe, one of the largest gas markets in the world. There are three main sources of gas: Africa, Russia and Norway. Norway is an important supplier of gas, but may be vulnerable to competition. The demand for gas is increasing on a global basis and the largest increase is expected in Asia, followed by America and Europe. It is expected that Norwegian gas deliveries will be a principle source of natural gas for North Europe in the next years and that they will take an increasing part of the British market as the gas deliveries from the British shelf is going down. The European gas market is likely to become liberalized according to the EU's competition- and gas directives. This will not necessarily be a problem, and Norway may be able to increase the export of gas to Great Britain considerably from the year 2010, perhaps up to 40 billion standard m3 per year. Russia is expected to take an increased share of the European gas market, especially in East- and Central Europe, Germany and North Italy. But large investments in existing fields, new developments and new strategic pipelines are necessary

Exploiting Flexibility in Coupled Electricity and Natural Gas Markets: A Price-Based Approach

DEFF Research Database (Denmark)

Ordoudis, Christos; Delikaraoglou, Stefanos; Pinson, Pierre

2017-01-01

Natural gas-fired power plants (NGFPPs) are considered a highly flexible component of the energy system and can facilitate the large-scale integration of intermittent renewable generation. Therefore, it is necessary to improve the coordination between electric power and natural gas systems....... Considering a market-based coupling of these systems, we introduce a decision support tool that increases market efficiency in the current setup where day-ahead and balancing markets are cleared sequentially. The proposed approach relies on the optimal adjustment of natural gas price to modify the scheduling...

Electricity and gas market observatory. 4. Quarter 2008

International Nuclear Information System (INIS)

2008-01-01

The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1 of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status on December 31, 2008, Dynamic analysis: 4. Quarter 2008); The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on December 31, 2008, Dynamic analysis: 4. Quarter 2008); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France, Prices on the French wholesale market and European comparison, Concentration of the French gas market); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

Electricity and gas market observatory. 2. Quarter 2008

International Nuclear Information System (INIS)

2008-01-01

The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1 of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status at June 30, 2008, Dynamic analysis: 2. Quarter 2008); The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on June 30, 2008, Dynamic analysis: 2. Quarter 2008); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

Natural gas market review 2006 - towards a global gas market

Energy Technology Data Exchange (ETDEWEB)

NONE

2006-07-01

Natural gas is essential to the world economy. Gas now accounts for almost a quarter of OECD primary energy requirements and is expected to become the second most important fuel in the world in the next decade. Industrial and residential consumers increasingly rely on natural gas to keep their houses warm, their lights on and their factories running. Meanwhile the gas industry itself has entered a new phase. Where gas used to be restricted to regional markets, it is now increasingly traded on a global scale. While gas production and transport requires long-term investment, now it is optimised on a short-term basis. Demand continues to grow, but local gas production has become much more expensive. How should we react? How will demand be satisfied? What changes are required to promote flexibility and trade? What are the implications for gas security, investment and interdependence? At stake is an opportunity to diversify supply and demand - but this goal is threatened by barriers to competition and investment. This book is the first of a new IEA publication series. It takes an unprecedented look at developments in natural gas to 2010, analysing not only the three IEA regions (Asia Pacific, North America and Europe) but also broader global trends, such as the interaction of pipeline gas with LNG which binds the regions together. The Review provides invaluable insights for understanding this dynamic market.

Natural gas market review 2006 - towards a global gas market

International Nuclear Information System (INIS)

2006-01-01

Natural gas is essential to the world economy. Gas now accounts for almost a quarter of OECD primary energy requirements and is expected to become the second most important fuel in the world in the next decade. Industrial and residential consumers increasingly rely on natural gas to keep their houses warm, their lights on and their factories running. Meanwhile the gas industry itself has entered a new phase. Where gas used to be restricted to regional markets, it is now increasingly traded on a global scale. While gas production and transport requires long-term investment, now it is optimised on a short-term basis. Demand continues to grow, but local gas production has become much more expensive. How should we react? How will demand be satisfied? What changes are required to promote flexibility and trade? What are the implications for gas security, investment and interdependence? At stake is an opportunity to diversify supply and demand - but this goal is threatened by barriers to competition and investment. This book is the first of a new IEA publication series. It takes an unprecedented look at developments in natural gas to 2010, analysing not only the three IEA regions (Asia Pacific, North America and Europe) but also broader global trends, such as the interaction of pipeline gas with LNG which binds the regions together. The Review provides invaluable insights for understanding this dynamic market

Electricity and gas market observatory. 3. Quarter 2007

International Nuclear Information System (INIS)

2007-01-01

The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1 of July 2007, all customers can choose their gas and electricity suppliers. The present observatory is including residential customer's statistics. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status at September 30, 2007, Dynamic analysis: 3. Quarter 2007); The wholesale electricity market (Introduction, Wholesale market activity in France, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on September 30, 2007, Dynamic analysis: 3. Quarter 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

Electricity and gas market observatory. 1. quarter 2007

International Nuclear Information System (INIS)

2007-01-01

Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Eligible customer segments and their respective weights, Status at April 1, 2007, Dynamic analysis: 1. Quarter 2007; The wholesale electricity market: Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 1. 2007 quarter; The gas market; The retail gas market: The eligible customer segments and their respective weights, Status at April 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary

Electricity and gas market observatory. 4. quarter 2006

International Nuclear Information System (INIS)

2007-01-01

Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Eligible customer segments and their respective weights, Status at January 1, 2007, Dynamic analysis: 4. Quarter 2007; The wholesale electricity market: Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 4. 2006 quarter; The gas market; The retail gas market: The eligible customer segments and their respective weights, Status at January 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary

Electricity and gas market observatory. 1. quarter 2007

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-07-01

Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Eligible customer segments and their respective weights, Status at April 1, 2007, Dynamic analysis: 1. Quarter 2007; The wholesale electricity market: Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 1. 2007 quarter; The gas market; The retail gas market: The eligible customer segments and their respective weights, Status at April 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary.

Electricity and gas market observatory. 4. quarter 2006

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-07-01

Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Eligible customer segments and their respective weights, Status at January 1, 2007, Dynamic analysis: 4. Quarter 2007; The wholesale electricity market: Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 4. 2006 quarter; The gas market; The retail gas market: The eligible customer segments and their respective weights, Status at January 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary.

Electricity and gas market observatory. 1. Quarter 2008

International Nuclear Information System (INIS)

2008-01-01

The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1. of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status at March 31, 2007, Dynamic analysis: 1. Quarter 2008); The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on March 31, 2008, Dynamic analysis: 1. Quarter 2008); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France, Striking fact of the first quarter 2008); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

Electricity and gas market observatory. 4. Quarter 2007

International Nuclear Information System (INIS)

2007-01-01

The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). Since the 1. of July 2007, all customers can choose their gas and electricity suppliers. Content: A - The electricity market: The retail electricity market (Introduction, Customer segments and their respective weight, Status at December 31, 2007, Dynamic analysis: 4. Quarter 2007); The wholesale electricity market (Introduction, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking fact of the fourth quarter 2007); B - The gas market: The retail gas market (Introduction, Customer segments and their respective weight, Status on December 31. 2007, Dynamic analysis: 4. Quarter 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France, Striking fact of the fourth quarter 2007); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

Electricity and gas market observatory. 2. quarter 2007

International Nuclear Information System (INIS)

2007-01-01

Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Non-residential customer segments and their respective weights, Status at July 1, 2007, Dynamic analysis: 2. Quarter 2007; The wholesale electricity market: Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the second quarter 2007; The gas market; The retail gas market: The non-residential customer segments and their respective weights, Status at July 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary

Electricity and gas market observatory. 2. quarter 2007

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-07-01

Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web-site (www.cre.fr). It presents: The electricity market; The retail electricity market: Non-residential customer segments and their respective weights, Status at July 1, 2007, Dynamic analysis: 2. Quarter 2007; The wholesale electricity market: Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the second quarter 2007; The gas market; The retail gas market: The non-residential customer segments and their respective weights, Status at July 1. 2007; The wholesale gas market: Gas pricing and gas markets in Europe,The wholesale market in France. Some glossaries are attached to the document: Electricity and gas market observatories combined glossary; Specific electricity market observatory glossary; Specific gas market observatory glossary.

Electricity deregulation - impact on gas users and markets

International Nuclear Information System (INIS)

Koeppel, H.

1995-01-01

Various scenarios for the natural gas market as a function a electricity deregulation were predicted. One scenario was the formation of an integrated market where sellers would offer a broad spectrum of energy products. This diversification would expand into the retail sector across North America. The second effect of electricity deregulation was energy cost reduction. The consumers have already been experiencing this benefit of deregulation. Cost reduction has also stimulated competition among energy suppliers, and improved suppliers' response to consumers'demands. The eventual shake-out of energy suppliers was predicted. Smaller companies that could not survive the competition would give up the market to larger companies that understood and met the customers' needs. It was concluded that deregulation of the electricity industry would have an enormous impact on the natural gas industry and that there would be opportunities for gain among buyers and sellers

German natural gas market and the international supply situation. Pt. 1. Supply market for natural gas

Energy Technology Data Exchange (ETDEWEB)

Dolinski, U [Deutsches Inst. fuer Wirtschaftsforschung, Berlin (Germany, F.R.). Abt. Bergbau und Energie

1978-01-01

Since the oil crisis the buyers's market started to change to a seller's market as a result of the worldwide rising demand for natural gas. This development will be amplified with the increasing significance and volume of LNG trade. This depends upon the availability of handling and tanker capacities. It is considered that technical solutions are available. The internationalisation of the world natural gas market imposes changes in terms of trade for the Federal Republic of Germany. In the sixties, terms of trade made under sales considerations presented no problems. But gas buyers today are forced to accept sellers' terms looking for the buyer offering the highest prices and other sales advantages. The world gas market has assumed the features of a polypolistic market. The security of supply is not a matter of adequate reserves, but almost entirely that of terms of contract on which the natural gas supply can be ensured. It is thereby decisive, whether it will be possible in future to procure the required amount of gas at such terms that it can be sold on the German energy market at competetive rates.

Liberalization and enlargement: impacts on the industrial organisation of natural gas markets in Eastern Europe

International Nuclear Information System (INIS)

Pirovska, M.

2004-01-01

In 2004, the EU has opened its commercial natural gas industry to competition, while eight former socialist countries have become member states. This ongoing institutional evolution is expected to have a great impact on the industrial organisation of the East European natural gas markets. Specificities and rigidities of the transport networks, as well as strong import dependency may in fact weaken the security of supply and confirm that natural gas is strongly affected by geopolitical constraints. By levering on an analysis of structure and strategies across natural gas markets in Eastern Europe, this dissertation explores the stakes of integration and liberalization on the industrial organisation of European natural gas and reveals the risk of an emerging oligopoly, and the cooperation between dominant players. Our main contention is that this evolution could possibly hinder network interconnection thereby thwarting the achievement of an integrated and single competitive natural gas market in the Union. (author)

Electricity and gas market observatory. 1. Quarter 2007

International Nuclear Information System (INIS)

2007-01-01

Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: - practical information for eligible customers: consumer guide, list of suppliers, - communications regarding markets running; CRE's annual activity report. Content: A - The electricity market: The retail electricity market (Introduction, Eligible customer segments and their respective weights, Status at April 1, 2007, Dynamic analysis: 1. Quarter 2007); The wholesale electricity market (Introduction, Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 1. 2007 quarter); B - The gas market: The retail gas market (Introduction, The eligible customer segments and their respective weights, Status at April 1, 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

Electricity and gas market observatory. 4. Quarter 2006

International Nuclear Information System (INIS)

2006-01-01

Since July 1, 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: - practical information for eligible customers: consumer guide, list of suppliers, - communications regarding markets running; CRE's annual activity report. Content: A - The electricity market: The retail electricity market (Introduction, Eligible customer segments and their respective weights, Status at January 1, 2007, Dynamic analysis: 4. Quarter 2006); The wholesale electricity market (Introduction, Traded volumes on the French wholesale electricity market and comparison with European markets, Prices on the French wholesale electricity market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking facts of the 4. 2006 quarter); B - The gas market: The retail gas market (Introduction, The eligible customer segments and their respective weights, Status at January 1, 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

Electricity and gas interconnections in France. A tool for the construction of an integrated European market

International Nuclear Information System (INIS)

2016-06-01

The French Energy Regulator (CRE) is publishing its report on French electricity and gas interconnections. The report makes two main conclusions: French electricity and natural gas networks are well interconnected with their counterparts in neighbouring countries and the use of interconnections has been significantly improved over the last 10 years. In terms of electricity, France's average export capacity is 13.5 GW, i.e. more than 10% of its production capacity. France is very well integrated in the European gas market and is a transit country to Spain and Italy. It has boosted its interconnection capacity in gas by 40% in 10 years. Interconnections are vital to the internal energy market and help trade between Member States. They enable European consumers to benefit from cost-effective energy by diversifying sources of supply. Since it was created, the CRE has played a leading role in this area, by fostering the development of interconnections at the French borders and by making them more efficiently used. After major efforts, the question of creating new interconnections (which constitute complex and costly projects) is now being raised. In terms of gas, the Midcat Project (a new gas interconnection between France and Spain) provides a good illustration of this question. The project will cost almost 3 billion Euros, two billion of which is being funded by France, and the decision to launch it should not be taken lightly without robust cost-benefit analyses. These studies must, in particular, identify and quantify the benefits for each country concerned as well as for the European Union, and organise the project funding in relation to these benefits. As concerns the interconnection project in the Bay of Biscay between France and Spain, overcoming technical uncertainties is an essential prerequisite before commenting on the opportunities it offers in terms of the costs and benefits that it might generate. In compliance with the law, the CRE acts on behalf of

Electricity and gas market observatory. 2. Quarter 2007

International Nuclear Information System (INIS)

2007-01-01

The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). The present observatory is dedicated only to eligible customers before 1 July 2007, i.e. non-residential customers. Statistics related to residential customers will be published in the next observatory (1 December 2007). Content: A - The electricity market: The retail electricity market (Introduction, Non-residential customer segments and their respective weights, Status at July 1, 2007, Dynamic analysis: 2. Quarter 2007); The wholesale electricity market (Introduction, Wholesale market activity in France, Wholesale market activity in France, Prices on the French wholesale market and European comparison, Import and export volumes, Concentration of the French electricity market, Striking fact of the second quarter 2007); B - The gas market: The retail gas market (Introduction, The non-residential customer segments and their respective weights, Status at July 1, 2007); The wholesale gas market (Gas pricing and gas markets in Europe, The wholesale market in France); C - Appendices: Electricity and gas market observatories combined glossary, Specific electricity market observatory glossary, Specific gas market observatory glossary

Integrated natural gas-electricity resource adequacy planning in Latin America

International Nuclear Information System (INIS)

Hammons, T.J.; Barroso, L.A.; Rudnick, H.

2010-01-01

Latin America is among the most dynamic regions for natural gas and electricity development. This paper discussed natural gas-electricity resource adequacy planning for Brazil, Chile, Mexico, and Colombia. The perspectives for creating an integrated market in the Southern Cone of Latin America were also presented. The continent has abundant natural gas reserves and high-growth energy markets. Many countries are promoting the use of natural gas for power generation in an effort to diversify away from heavy investments in hydropower and costly oil. These measures have created competition between hydro- and thermal generation, the breaking of cross-country natural gas agreements, as well as competition between natural gas and other resources for power generation and transmission.

Market power across the Channel: Are Continental European gas markets isolated?

International Nuclear Information System (INIS)

Massol, Olivier; Banal-Estanol, Albert

2014-01-01

This paper examines the efficiency of the arbitrages performed between two regional markets for wholesale natural gas linked by a capacity-constrained pipeline system. We develop a switching regime specification to (i) detect if the observed spatial arbitrages satisfy the integration notion that all arbitrage opportunities between the two markets are being exploited, and (ii) decompose the observed spatial price differences into factors such as transportation costs, transportation bottlenecks, and the oligopolistic behavior of the arbitrageurs. Our framework incorporates a test for the presence of market power and it is thus able to distinguish between the physical and behavioral constraints to marginal cost pricing. We use the case of the 'Interconnector' pipeline as an application, linking Belgium and the UK. Our empirical findings show that all the arbitrage opportunities between the two zones are being exploited but confirm the presence of market power. (authors)

Conference Proceedings: The Quest for gas: tapping additional supplies for a growing market

International Nuclear Information System (INIS)

2000-01-01

The two-day conference attracted 375 attendees from 19 U.S. states, 10 Canadian provinces and territories and several delegates from Europe. The conference reviewed the supply picture in Western Canada and the U.S., the market outlook with special reference to the robust electricity and industrial market, the outlook on gas prices and how the recent high prices impact on gas producers, royalty owners, industrial process users, the expansion of frontier gas, and competing sources of electrical generation, mainly existing coal and nuclear plants. The focus of the discussions centered on the so-called '30 Tcf vision' the recent National Petroleum Council Study in the United States. Further integration of the US and Canadian gas industry, primarily in the area of gas supply, was predicted. Evidence for this integration is the tremendous expansion of the role of frontier gas supplies from the Gulf of Mexico, LNG and coal seam gas in the USA and from the Scotian Shelf, the Liard Valley, north of the sixtieth parallel, Alaska's North Slope and Canada's Mackenzie Delta, to meet North American market demand. A resurgence in the role of large companies was also predicted, displacing the variety of independents, large and small, that have sprung up during the past decade

Northwest Asia - gas market outlook: LNG vs. pipeline gas

International Nuclear Information System (INIS)

Keun Wook Paik

1996-01-01

The share of natural gas in Northeast Asia's energy mix is quite low despite that the region currently dominates the world LNG trade. In the long term, the region's rapid expansion of gas demand in the coming decades looks very likely, but the LNG dominance in the region's gas market will collapse in parallel with the introduction of a long distance pipeline gas. The most likely timing of pipeline gas introduction in Northeast Asian gas market seems to be during the second half of the next decade. (Author)

British Columbia natural gas: Core market policy

International Nuclear Information System (INIS)

1988-06-01

The core market for natural gas in British Columbia is defined as all natural gas consumers in the residential, institutional, commercial, and industrial sectors not currently purchasing natural gas directly and not exempted from the core market by the British Columbia Utilities Commission (BCUC). The intent of the definition is to include all customers who must be protected by contracts which ensure long-term security of supply and stable prices. Core market customers are excluded from direct natural gas purchase and will be served by distribution utilities. A customer may apply to BCUC to leave the core market; such an application may be approved if it is demonstrated that the customer has adequate long-term natural gas supplies or alternative fuel supplies to protect him from supply interruptions. The non-core market is defined as all large industrial customers who elect to make their own natural gas supply arrangements and who can demonstrate to the BCUC sufficient long-term natural gas supply protection or alternative fuel capability to ensure security of the industry. Non-core market customers have full and open access to the competitive natural gas market. The British Columbia government will not apply its core market policy to other jurisdictions through Energy Removal Certificates

CO{sub 2} abatement policies in the power sector under an oligopolistic gas market

Energy Technology Data Exchange (ETDEWEB)

Hecking, Harald

2014-09-15

The paper at hand examines the power system costs when a coal tax or a fixed bonus for renewables is combined with CO{sub 2} emissions trading. It explicitly accounts for the interaction between the power and the gas market and identifies three cost effects: First, a tax and a subsidy both cause deviations from the cost-efficient power market equilibrium. Second, these policies also impact the power sector's gas demand function as well as the gas market equilibrium and therefore have a feedback effect on power generation quantities indirectly via the gas price. Thirdly, by altering gas prices, a tax or a subsidy also indirectly affects the total costs of gas purchase by the power sector. However, the direction of the change in the gas price, and therefore the overall effect on power system costs, remains ambiguous. In a numerical analysis of the European power and gas market, I find using a simulation model integrating both markets that a coal tax affects gas prices ambiguously whereas a fixed bonus for renewables decreases gas prices. Furthermore, a coal tax increases power system costs, whereas a fixed bonus can decrease these costs because of the negative effect on the gas price. Lastly, the more market power that gas suppliers have, the stronger the outlined effects will be.

Price interactions and discovery among natural gas spot markets in North America

International Nuclear Information System (INIS)

Park, Haesun; Mjelde, James W.; Bessler, David A.

2008-01-01

Recent advances in modeling causal flows with time series analysis are used to study relationships among eight North American natural gas spot market prices. Results indicate that the Canadian and US natural gas market is a single highly integrated market. Further results indicate that price discovery tends to reflect both regions of excess demand and supply. Across North America, Malin Hub in Oregon, Chicago Hub, Illinois, Waha, Texas, and Henry Hub, Louisiana region, are the most important markets for price discovery. Opal Hub in Wyoming is an information sink in contemporaneous time, receiving price information but passing on no price information. AECO Hub in Alberta, Canada, receives price signals from several markets and passes on information to Opal and the Oklahoma region. (author)

Canadian markets for east coast gas

International Nuclear Information System (INIS)

Cowan, N.

1998-01-01

Markets for natural gas in Canada's Maritime provinces were discussed. Maritime markets are the largest potential region, currently without access to natural gas, in Canada or the United States. Total market potential was estimated at 430,000 MMBtu/day or in excess of 150 BCF annually, with most market potential distribution in Halifax, Nova Scotia and in the Saint John, New Brunswick area. Maritimes and Northeast Pipeline is involved in a joint effort with Westcoast Energy Inc., Duke Energy, and Mobil Oil Canada in bringing the Sable Gas resources to market. Details of the Sable offshore project were provided. The project involves the development of six separate gas fields located near Sable Island, on the Scotian Shelf, approximately 250 km off the coast of Nova Scotia. The six fields under development represent about 3.5 trillion cubic feet of proven gas supply. Another two trillion cubic feet of gas has been discovered in nearby pools. There is an estimated additional 13 trillion cubic feet of potential gas reserve in the Scotian Shelf region. The two billion dollar offshore project involves twenty-eight production wells, construction and installation of six platforms and a 225 km long two-phase pipeline from the central platform that will transport the product to shore. A gas plant will be constructed on-shore at Goldboro at which point the liquids will be stripped from the gas stream and transported by an onshore pipeline to Point Tupper, Cape Breton Island, to a fractionation facility for further market processing

NATGAS. A Model of the European Natural Gas Market

International Nuclear Information System (INIS)

Mulder, M; Zwart, G.

2006-02-01

The NATural GAS model is an integrated model of the European wholesale gas market providing long-run projections of supply, transport, storage and consumption patterns in the model region, aggregated in 5-year periods, distinguishing two seasons (winter and summer). Model results include levels of investment in the various branches, output and consumption, depletion of reserves and price levels. The NATGAS model computes long-term effects of policy measures on future gas production and gas prices in Europe. NATGAS is an equilibrium model describing behaviour of gas producers, investors in infrastructure (pipeline, LNG capacity, as well as storage), traders and consumers. NATGAS covers the main European demand regions, including the United Kingdom, Germany, the Netherlands and Italy. Moreover, it covers the main origins of supply on the European market, such as Russia, Norway, Algeria, the Netherlands, the United Kingdom and LNG. In this memorandum, we first discuss the theoretical background as well as the model specifications. Afterwards, we describe the data we used, present some results and assess validity by computing sensitivities and comparing with current developments

The Victorian gas market: debunking the myths

International Nuclear Information System (INIS)

Grimwade, T

2001-01-01

The Victorian wholesale gas spot market has operated effectively and trouble-free for over two years. VENCorp's Executive Manager of Energy Markets, reflects on the market experiences to date, and argues that Victoria's physical pipeline system characteristics require its market to be 'different' from those in the other States in Australia. The Victorian gas transmission system in not predominantly comprised of a single point-to-point pipeline; it is rather a 'meshed' network, with multiple point of supply. Gas flow on substantial sections of the transmission pipeline can be bi-directional, depending on market and demand conditions. Consequently, Victoria's wholesale spot market has been designed to address operational and market issues due to the physical characteristics of the Victorian gas pipeline system

Integrated approach to natural gas utilization in the Asia Pacific region

International Nuclear Information System (INIS)

Hovdestad, W.R.; Egbogah, E.O.

1995-01-01

The rapidly expanding economies in the Pacific Rim have placed increasing demands upon indigenous natural gas supplies in South East Asia and Australia. Competing demands include exports of liquefied natural gas (LNG), domestic consumption, and potential use for enhanced oil recovery (EOR) to extend the useful life of maturing oil fields. An additional competing demand for gas exports may emerge as the interstate pipeline grid is expanded. An integrated approach incorporating the evolving nature of gas demands and discrete physical supplies would provide a means to mitigate against potential mismatching of supply and demand. The consideration of the evolving nature of gas demands could promote economically beneficial changes to gas field development. The development of high carbon dioxide (CO 2 ) content gas fields has been slowed by the lack of a market for CO 2 . Utilization of by-product CO 2 for EOR could improve development economics, thus facilitating earlier development of gas supplies to satisfy gas demands including domestic use and LNG exports. End users would also benefit from the assurance that gas supplies would become available as needed. The maturity and increasingly complex natural gas industry in the Asia Pacific Region has led to a qualitative change. The model of single projects to satisfy single markets is no longer valid. The current environment is more dynamic, creating the need to anticipate changes to market demands and to find value-added markets for by-products. The integrated approach to gas utilization discussed in this paper presents a new model more appropriate to the gas industry existing today in the Asia Pacific Region. This approach is particularly significant to widely discussed proposals for an Asia Pacific energy grid extending to Australia

Interconnections and market integration in the Irish Single Electricity Market

International Nuclear Information System (INIS)

Nepal, Rabindra; Jamasb, Tooraj

2012-01-01

Interconnections can be an effective way to increase competition and improve market integration in concentrated wholesale electricity markets with limited number of participants. This paper examines the potential for interconnections and increasing market integration in the Irish Single Electricity Market (SEM). We use a time-varying Kalman filter technique to assess the degree of market integration between SEM and other large, mature and interconnected wholesale electricity markets in Europe including Great Britain (GB). The results indicate no market integration between SEM and other European markets except for Elspot and GB. We show that the current state of market integration between SEM and GB is just 17% indicating potential to improve market integration via increased interconnector capacity. The results indicate that liquidity of wholesale markets might be a crucial factor in the market integration process while our results remain inconclusive in determining whether increased trade of renewables can improve market integration. - Highlights: ► We assess the degree of market integration between SEM and other EU electricity markets. ► Our results indicate no market integration between SEM and other European markets except for Elspot and GB. ► We show that the current state of market integration between SEM and GB is just 17%.

Norwegian gas on the European market

International Nuclear Information System (INIS)

Noreng, Oeystein

1999-01-01

Article. Norsk Hydro's acquisition of Saga has made the organization of Norwegian gas sales a very topical issue. Traditionally, Norwegian gas has been sold on long-term take-or-pay contracts where the sales volume is secured and the price is linked to the prices of other energy carriers, primarily oil. Norway has sold large volumes of gas to the continent and has an increasing share of the market. However, the long-term contracts place most of the price risk on the seller. Although the sale is guaranteed, earnings are low. Statoil, the largest seller of Norwegian gas, has so far earned much more by transporting the gas to the continent than by producing and selling it. The long-term take-or-pay contracts are no longer safe. In Germany, the power market is quickly opening for competition, implying falling prices and lapsing long-term contracts. A similar development is likely to occur in the gas market. From Norwegian quarters there has been little interest in establishing oneself in the gas markets on the continent, which worries the author. However, the traditional contracts will have to be renegotiated so that the prices will reflect the real competition in the market. It is argued that a sensible Norwegian strategy will be to prepare for a new world for gas, not to hold tight to historical positions. It is suggested that old plans to establish a gas transport company, Gassledd, should be revived. Such a company would be subject to the European Gas Directive and would have to admit a third party. It is likely that the Norwegian opposition to liberalization of the European gas market will one day appear poorly thought out, and that defensive considerations have overshadowed new opportunities

Gas marketing: Does size equal survival?

International Nuclear Information System (INIS)

Katz, M.G.

1996-01-01

The thought is enough to make many homeowners cringe: competing natural gas marketers calling them at home in the evening, pushing their brands and services much like AT and T, MCI and Sprint hawk long-distance telephone service today. Another thought is enough to make many gas marketers cringe: a half-dozen or fewer giant mega-marketers selling virtually all the natural gas in the US, and they and their company are not among them. Yet both thoughts are likely to become realities, say many in the natural gas industry. If so, each would represent an intriguing turn of events for the newest segment of the industry, one that barely existed 10 or 15 years ago. The paper discusses the recent history of the gas marketing sector, the changes taking place in the industry, and the biggest problem--the lack of a uniform electronic standard or bulletin board system for dispatching, nominating, and monitoring gas purchase as they move across the country

Eastern Canada natural gas market development

Energy Technology Data Exchange (ETDEWEB)

Laird, N. [PanCanadian Petroleum Ltd., Calgary, AB (Canada)

2001-07-01

An overview an update of PanCanadian's exploration operations in Atlantic Canada was presented along with market delivery options. PanCanadian is one of Canada's largest natural gas producers and the most active Canadian driller with 2,479 wells. With its' 94 per cent success rate, the company is emerging as an international exploration success and is marketing energy throughout North America. In terms of marketing natural gas, PanCanadian is ranked twelfth of 68 suppliers in customer satisfaction. The company also markets about 10 per cent of western crude production and is the second largest Canadian marketer for natural gas liquids. Also, with the deregulation of electricity in Alberta, PanCanadian is constructing two 106 megawatt power plants in Alberta to provide electricity to Southern Alberta and to take advantage of the economics of energy conversion. PanCanadian also has a dominant, 20 per cent position in the Scotia Shelf and has plans for offshore processing. Graphs depicting its Deep Panuke operations and pipeline routes to market the natural gas were included. Forecast charts for natural gas demand show a steady increase in demand from 2000 to 2010. tabs., figs.

Eastern Canada natural gas market development

International Nuclear Information System (INIS)

Laird, N.

2001-01-01

An overview an update of PanCanadian's exploration operations in Atlantic Canada was presented along with market delivery options. PanCanadian is one of Canada's largest natural gas producers and the most active Canadian driller with 2,479 wells. With its' 94 per cent success rate, the company is emerging as an international exploration success and is marketing energy throughout North America. In terms of marketing natural gas, PanCanadian is ranked twelfth of 68 suppliers in customer satisfaction. The company also markets about 10 per cent of western crude production and is the second largest Canadian marketer for natural gas liquids. Also, with the deregulation of electricity in Alberta, PanCanadian is constructing two 106 megawatt power plants in Alberta to provide electricity to Southern Alberta and to take advantage of the economics of energy conversion. PanCanadian also has a dominant, 20 per cent position in the Scotia Shelf and has plans for offshore processing. Graphs depicting its Deep Panuke operations and pipeline routes to market the natural gas were included. Forecast charts for natural gas demand show a steady increase in demand from 2000 to 2010. tabs., figs

Natural gas market in Europe

International Nuclear Information System (INIS)

Mons, L.

2001-07-01

The natural gas market is opened to competition since August 2000. The economical impact of this new situation remains moderate in 2001 because the conditions of competition are not fulfilled everywhere. In France, for instance, the European directive on markets deregulation has not been transposed yet and the conditions of access of third parties to the national gas network have not been clearly defined. In this context of uncertainties, several questions remain unanswered. This study draws out a precise status of the situation of the 7 main European gas markets. It comprises also an analysis of the behaviour and strategy of the 18 main actors of this sector. (J.S.)

Marketing of Frigg gas

Energy Technology Data Exchange (ETDEWEB)

Probert, W R

1976-01-01

The marketing of Frigg gas is of particular interest, being the first major supplementary source of supply since the original development and major expansion of the natural gas industry. The timing of arrival is highly significant following a unique series of events - world energy crisis, upsurge of fuel prices, the deliberate restriction of gas sales to match available supply, and a major economic recession during which national energy usage has actually fallen. After such unprecedented changes, the future energy scene is far from clear. It is certain, however, that the marketing of Frigg gas will have to take into account the social, economic, and political changes that are occurring in the United Kingdom as manifested in an increasing interest in energy prices. Notwithstanding the uncertainties, the industry's broadly based strategy of market-related pricing in the premium sectors, which has served its customers and the economy as a whole to advantage over the past few years, will be extended to make the maximum use of a valuable indigenous resource.

The integration of gas and electricity: potential effects on competition in markets

International Nuclear Information System (INIS)

Lopez Milla, J.

2007-01-01

During the last years, an increasing number of gas and electricity companies have integrated their activities in both sectors. Following this trend, several Mergers and Acquisitions between gas and electricity companies have emerged, and some of them have been cross-borders operations that have given rise to multinational enterprises. This paper analyses the causes of the integration of gas and electricity activities, and examines its implications on regulation and competition policy, showing that these changes in the energy industry raise new challenges and compel to adopt new measures in that field of the economic policy. (Author) 25 refs

Gas market is today strategical

International Nuclear Information System (INIS)

Darricarrere, Y.L.

2006-01-01

The energy market, and in particular the gas market, is today seething with excitement. In France, in Europe and in the rest of the world, the energy stakes are in the center of preoccupations. This article is an interview of Y.L. Darricarrere, general director of the gas and electricity division of Total group, who explains his opinions about the opening of European and French energy markets, presents the ambitions of Total group on these markets, and comments some recent events of the European energy scene: concentration between gas and electric utilities, the Suez and Gaz de France (GdF) project of merger, the risks linked with the coming in of national companies from producing countries, like Gazprom and Sonatrach, on the European market, the restriction of access of foreign companies to hydrocarbon reserves in Russia and Latin America (come back of the 'energy nationalism'), Total's policy for anticipating the increase of the world energy demand and the depletion of fossil fuel reserves. (J.S.)

Integration of European Bond Markets

DEFF Research Database (Denmark)

Christiansen, Charlotte

2014-01-01

I investigate the time variation in the integration of EU government bond markets. The integration is measured by the explanatory power of European factor portfolios for the individual bond markets for each year. The integration of the government bond markets is stronger for EMU than non-EMU memb......I investigate the time variation in the integration of EU government bond markets. The integration is measured by the explanatory power of European factor portfolios for the individual bond markets for each year. The integration of the government bond markets is stronger for EMU than non...

Natural gas market assessment ten years after deregulation

International Nuclear Information System (INIS)

1996-11-01

Changes which have taken place in the Canadian natural gas market in the ten years since the gas market was de-regulated, were reviewed. A 1985 agreement created conditions for a competitive natural gas market. However, the National Energy Board ensured that the pipeline transmission sector of the gas industry would continue to be regulated because of its natural monopoly characteristics. Open non-discriminatory access was to be provided to all shippers on inter-provincial gas pipelines. One objective of this report was to provide the Board with the means of assuring itself that the market was operating in such a way that Canadian requirements for natural gas were being met at fair market prices. The report also provided a review of the major changes in the gas producing and transmission sector, and reviewed developments in gas markets and sales practices. The overall assessment was that the natural gas industry was efficient and responsive to the demands of the marketplace. 5 tabs., 30 figs

COLUMBUS. A global gas market model

Energy Technology Data Exchange (ETDEWEB)

Hecking, Harald; Panke, Timo

2012-03-15

A model of the global gas market is presented which in its basic version optimises the future development of production, transport and storage capacities as well as the actual gas flows around the world assuming perfect competition. Besides the transport of natural gas via pipelines also the global market for liquefied natural gas (LNG) is modelled using a hub-and-spoke approach. While in the basic version of the model an inelastic demand and a piecewise-linear supply function are used, both can be changed easily, e.g. to a Golombek style production function or a constant elasticity of substitution (CES) demand function. Due to the usage of mixed complementary programming (MCP) the model additionally allows for the simulation of strategic behaviour of different players in the gas market, e.g. the gas producers.

The Evolving Role of LNG in the Gas Market

Energy Technology Data Exchange (ETDEWEB)

De Jong, D.; Van der Linde, C.; Smeenk, T.

2010-09-15

The global energy scene is changing rapidly. Producing countries are tightening their grip on the development of their resources, emerging (and other) economies are taking a direct political interest in securing supplies, politics and business are increasingly integrated in international energy deals, and energy is on the political agenda of every government. Compounding this, prices of energy skyrocketed over the four years leading up to August 2008. As a result more gas resources became economical to develop, creating more supply potential than before. However, the severe crisis in international financial markets and national banking systems is now changing this outlook. Prices have come down, and this, combined with the current decline in economic activity, is likely to affect the timing of investment decisions on new pipeline and liquefied natural gas (LNG) projects. The impact on national economies on energy demand, and on the relative position of gas in the energy market could be considerable. At the same time, some consuming countries are also reviewing the environmental effect of their energy policies and the security of their energy supply. Any change in these policies could affect the place of gas in the energy mix. These developments are still unfolding; it is difficult to say at this stage in what ways and to what extent the position of natural gas will change. Nevertheless, some expect further globalization of the gas business, with different market structures, more fragmented value chains, more flexibility in supplies to markets, and shorter term contracts. In this respect, LNG is regarded as the major potential game changer. Indeed the LNG business model has been changing over recent years into one of greater flexibility, promising producers higher rewards, albeit in return for higher risks. More recently the perspective of high rewards in a market hungry for supplies has changed radically, at least for the next few years. A global crisis, lower oil

The Evolving Role of LNG in the Gas Market

International Nuclear Information System (INIS)

De Jong, D.; Van der Linde, C.; Smeenk, T.

2010-01-01

The global energy scene is changing rapidly. Producing countries are tightening their grip on the development of their resources, emerging (and other) economies are taking a direct political interest in securing supplies, politics and business are increasingly integrated in international energy deals, and energy is on the political agenda of every government. Compounding this, prices of energy skyrocketed over the four years leading up to August 2008. As a result more gas resources became economical to develop, creating more supply potential than before. However, the severe crisis in international financial markets and national banking systems is now changing this outlook. Prices have come down, and this, combined with the current decline in economic activity, is likely to affect the timing of investment decisions on new pipeline and liquefied natural gas (LNG) projects. The impact on national economies on energy demand, and on the relative position of gas in the energy market could be considerable. At the same time, some consuming countries are also reviewing the environmental effect of their energy policies and the security of their energy supply. Any change in these policies could affect the place of gas in the energy mix. These developments are still unfolding; it is difficult to say at this stage in what ways and to what extent the position of natural gas will change. Nevertheless, some expect further globalization of the gas business, with different market structures, more fragmented value chains, more flexibility in supplies to markets, and shorter term contracts. In this respect, LNG is regarded as the major potential game changer. Indeed the LNG business model has been changing over recent years into one of greater flexibility, promising producers higher rewards, albeit in return for higher risks. More recently the perspective of high rewards in a market hungry for supplies has changed radically, at least for the next few years. A global crisis, lower oil

Russian gas in the west European market

International Nuclear Information System (INIS)

Nikitin, B.A.

1996-01-01

The paper relates to the Russian supply of natural gas to the west European market. Following themes are discussed: The resource basis of the gas industry; analysis of the European gas market; projects for Russian gas supply to Europe; international co-operation

The European gas market at the 2008 prospects

International Nuclear Information System (INIS)

2004-11-01

Because of the opening of European energy markets to competition and to the dynamism of gas consumption, the natural gas market has become very attractive. In parallel, the development of infrastructures (in particular for the LNG industry) offer setting up possibilities to newcomers. Moreover, the synergies linked to the gas/electricity convergence diminish the boundary between electricity and gas markets. In this context, the historical operators of European gas markets have to face the offensive of oil and electric power companies. This study tackles the following questions: what are the gas demand evolution prospects? What are the most attractive consumption areas? How gas prices will change in mid-term? What is the competitive intensity of national markets? Which commercial positioning is to be adopted? What future for dual offers? What is the advantage of regulated activities for operators? Who are the best positioned actors? What will be the mid-term role of Gazprom? What are the mid-term prospects of European market reconfiguration? This study analyses the strategy and positioning of the main European gas operators and shows their forces and weaknesses. It includes a financial comparison of the 20 main groups present in the European natural gas market. This analysis allows to propose 4 scenarios of mid-term evolution for this market. (J.S.)

Energy in Southeast Asia: from Networks to Markets Integration

International Nuclear Information System (INIS)

Cornot-Gandolphe, Sylvie

2017-01-01

Southeast Asia is one of the world's most dynamic regions and experiences strong economic and energy demand growth rates. In this context, the Association of Southeast Asian Nations (ASEAN) is seeking to interconnect the electric grids and gas networks of the countries through two initiatives, the Asean Power Grid and the Trans-Asean Gas Pipeline, in order to pool resources and optimize energy markets integration in the region

Natural gas for power generation : issues and implications : an energy market assessment

International Nuclear Information System (INIS)

2006-06-01

This report presented a historical examination of trends in natural gas-fired generation as well as a perspective on the issues and potential implications of increasing reliance on natural gas. Potential changes to Canadian energy consumers were reviewed in addition to natural gas infrastructure and services. Electricity prices relating to natural gas generation were examined. A broad regional and continental perspective was employed to account for energy market integration and the fact that gas trends reflect developments outside of Canada. The report was divided into 2 sections: (1) an examination of the trend toward natural-gas fired generation of electricity in North America; and (2) an examination of issues in closer detail from a regional perspective followed by a discussion of the changes in generation and natural gas markets in western, eastern, and central North America. Questions arising from the analysis of specific regional supply, demand and infrastructure situations were also examined. Recommendations were presented for issues concerning the current gas market and the appropriate role of the government in ensuring adequate generation. Uncertainties in future natural gas supply were also considered. It was concluded that rapid industrial growth will continue to increase demand for natural gas and electricity supply. 5 figs

Rising prices squeeze gas marketer

Energy Technology Data Exchange (ETDEWEB)

Lunan, D.

2000-06-19

Apollo Gas, a Toronto-based gas marketer, is considering options to enhance unit holder value, including sale of its 21,000 gas supply contracts, just weeks after it was forced out of the Alberta market by rising gas prices. Although the company had reported first quarter revenues of more than $15 million and earnings through that period of about $2.1 million, increases of 33 per cent and 38 per cent respectively over the same period in 1999, the company is resigned to the fact that such performance markers are not likely to be reached again in the foreseeable future, hence the decision to sell. About 95 per cent of Apollo's current transportation service volumes are matched to existing fixed-price supply contract which are due to expire in November 2000. After that, it is about 75 per cent matched for the balance of the term of its customer contracts (mostly five years). This means that the company is exposed to market prices that are likely to continue to increase. If this prediction holds true, Apollo would be forced to purchase the unhedged volumes of gas it needs to service its customers in the spot market at prices higher than prices the company is charging to its customers.

Rising prices squeeze gas marketer

International Nuclear Information System (INIS)

Lunan, D.

2000-01-01

Apollo Gas, a Toronto-based gas marketer, is considering options to enhance unit holder value, including sale of its 21,000 gas supply contracts, just weeks after it was forced out of the Alberta market by rising gas prices. Although the company had reported first quarter revenues of more than $15 million and earnings through that period of about $2.1 million, increases of 33 per cent and 38 per cent respectively over the same period in 1999, the company is resigned to the fact that such performance markers are not likely to be reached again in the foreseeable future, hence the decision to sell. About 95 per cent of Apollo's current transportation service volumes are matched to existing fixed-price supply contract which are due to expire in November 2000. After that, it is about 75 per cent matched for the balance of the term of its customer contracts (mostly five years). This means that the company is exposed to market prices that are likely to continue to increase. If this prediction holds true, Apollo would be forced to purchase the unhedged volumes of gas it needs to service its customers in the spot market at prices higher than prices the company is charging to its customers

Electric power and gas markets

International Nuclear Information System (INIS)

2001-01-01

These two days organized by EFE in Paris, dealt with the european market of the gas and the electrical power. The first day developed the actual situation and the tendencies. The french market deregulation, the possibility of a united market and the energy transportation sector are discussed. The second day dealt with the new commercial technologies, the convergence of Gas and Electricity and the competing in a change world, the opportunities of the NTIC (new technologies of the information and communication). (A.L.B.)

The drivers behind the globalization of natural gas markets

International Nuclear Information System (INIS)

Ahmed El Hachemi Mazighi

2006-01-01

Today, the globalisation of natural gas markets is a topic much discussed amongst gas industry practitioners, policy makers and academics. If there is a consensus on a tendency towards the ''commoditisation'' of natural gas markets, there is less agreement on the certainty of the global approach to gas marketing. The aim of this paper is to untangle the main drivers behind the globalisation of natural gas markets, both on the demand and supply sides, and to discuss problems related to the market structure, such as price arbitrages and organised markets. The paper will conclude that the globalisation of natural gas markets cannot be approached as a deterministic problem and as a consequence, there is still no precise answer as to when the different regional gas markets will forge a global one. (author)

The natural gas futures markets - is it still inefficient?

International Nuclear Information System (INIS)

Herbert, J.H.

1994-01-01

The natural gas futures market is fundamental to the current natural gas market both as means of price discovery and for price hedging. Thus, the informational efficiency of the futures market is an important issue. This article re-examines the informational efficiency of the natural gas futures market. In this re-examination several cash price series are considered. It is found that the natural gas futures market is informationally efficient for only one of the cash markets. The characteristics of the current natural gas market that might explain the estimated results are also discussed. (author)

Surveillance report 2015-2016. Functioning of the wholesale electricity, CO_2 and natural gas markets

International Nuclear Information System (INIS)

2016-01-01

After a presentation of some key figures regarding the electric power and natural gas markets, this reports, illustrated by many data tables, discusses the integration of wholesale market surveillance in the European system: a complete and operational framework, constitution of a European register of participants, data reporting at the European level, link with financial regulation, and surveillance of wholesale agents. In the second part, it gives an overview of the context of the energy markets: drop in raw material prices, temperatures above normal with a particularly mild winter, sharp drop in the price of emission allowances. The third section proposes an analysis of wholesale electricity markets: fundamentals (evolutions of production and consumption, of production sources, D-7 nuclear availability), wholesale prices, major growth in exchanged volumes. The last section addresses wholesale natural gas markets: review of the gas system (evolution of demand and supply), evolution of gas prices, evolution of trading (global deliveries, spot and forward market)

Market integration in the crustaceans market

DEFF Research Database (Denmark)

Ankamah-Yeboah, Isaac; Bronnmann, Julia

2018-01-01

are substitutes. Price determination processes for the shrimp markets vary with the level of the value chain. The results imply that the wild and farmed crustaceans markets are interacting through substitution effects. Hence, the markets have the capability to shield volatile and rising prices that would emanate......In this paper the price dynamics and the degree of market integration in the German crustaceans market is examined using cointegration methods. The study focuses on wild caught cold water shrimp, farmed warm water shrimp as well as lobster and derives implications for the fisheries sector....... In the analysis, both the import market and the retail market price reactions are distinguished. Therefore, it is evaluated how price changes affect competing commodities within and between the value chain of a given crustaceans commodity. Evidence of partial market integration is found for all species under...

Evolution and perspectives of gas market

International Nuclear Information System (INIS)

Russo, S.

1998-01-01

The gas market in Europe, and thus in Italy, will see great changes as regards the market, the deployment of forces on the ground, the structure of the demand and, in the longer term, that of the offer. It is important to look at the future after having gone through, although in brief, the stages of the development of the gas market in Europe and in Italy, from the origins, in the years 1950-60, up today. It is not difficult to see how the organization of the market, up to now, has been oriented prevailingly at the development and at the security of supplies to the consumer. The future will focus on the improvement of the global efficiency of the gas system with the aim of reducing costs, yet for the final users. The realization of this transition has already begun and it is demonstrated by the evolution of both the institutional and regulatory framework already under way, in Europe with the just approved gas directive, and in Italy with the appointment of the market regulation Authority. It is difficult challenge to which the gas industry will answer adequately [it

European gas oil markets

International Nuclear Information System (INIS)

Long, D.

1991-04-01

The developments over the past five years of the bulk markets for gas oil in Europe are examined using advanced econometric techniques to study the related issues of pricing efficiency and hedge efficiency. The study attempts to preserve the fluctuations of the actual data as these provide insights into the process of price discovery. The markets studied include the spot, forward and futures markets and looks for evidence of differentiated markets. (UK)

The European Gas Market. A Reality Check

International Nuclear Information System (INIS)

Parmigiani, Laura

2013-01-01

With the approach of the 2014 deadline for the completion of a truly European liberalised energy market, there is growing concern on the adequacy of the market structure with the changed economic and geopolitical environment. Market-based and short-term approaches have been fostered for both gas and electricity markets. Energy and climate policies have therefore a primary function in designing the basic rules for these markets to develop. This study addresses two key issues related to the market design envisaged for the gas sector in Europe. The first raises questions about the adequacy of the market design proposed for the gas market with respect to security of supply. In fact, despite a higher dependence to external gas sources, the gas system has been developing all over Europe and it is becoming a key component of the European energy mix, in particular thanks to its back-up role for intermittent electricity generation and its lower content of CO 2 emissions with respect to coal. The external dimension of the gas market is thus taking a greater place in the approach to gas supply strategies. Security of supply is a key component in the gas sector and cannot be ignored in the creation of a European gas market. Moreover, the oligopolistic characteristic of the supply side has to be carefully assessed as it is well recognized that two countries (Norway and Russia) provide up to almost 60% of total external supplies. The study therefore investigates to what extent the gas market design and its implementation rules take into consideration this dimension. It will be argued that the gas target model envisaged by regulators and the EC, by aiming at increasing the number of market exchanges based on market hubs or virtual exchange points, will not significantly contribute to security of supply. On the contrary, a greater concentration could be an undesired outcome of this process. The second issue thus relates to the more practical on-going reforms that establish common

The Italian gas market

International Nuclear Information System (INIS)

Ferrari, A.

2004-01-01

The first meeting of the French gas association (AFG) of the year 2004 was devoted to the Italian gas market. Two experts of this market were invited: A. Ferrari, general director of the Italian gas and electricity regulation authority, and D. Dispenza, vice-general director of Eni Division Gas and Power. This conference was the occasion to compare the French and Italian gas industries. France and Italy have a border in common and also a series of common structural characteristics: the dependence with respect to foreign supplies, the position of the public company, the sensitiveness with respect to the security of supplies, to the role of storage and to the public utility. The French and Italian decisions are inter-dependent. The liberalization taking place with an unpredictable rate, it is necessary for the gas industry to anticipate its effects. When the political, legal and regulatory decisions are enforced, the initiative comes back to the hands of the industry. In this context, the trend of the transfrontier industries becomes particularly important for the regulatory authority. (J.S.)

Toward a new, integrated interactive electric power and natural gas industry

International Nuclear Information System (INIS)

Anon.

1995-01-01

The movement toward a new, integrated interactive electric power and natural gas industry is discussed. This movement envisions more competition and fewer competitors. The key capabilities of the new market are described. It is concluded that what will make an energy business succeed is the ability to aggregate supply and markets, to optimize routing, to improve load factors, and to provide added levels of reliability through diversity. The strong organization that is able to deal in all forms of energy is a necessary part of this new paradigm of the integrated energy market

Managing gas plant margins through the financial commodities market

International Nuclear Information System (INIS)

Peters, D.; Lafferty, L.

1995-01-01

Gas processors invest capital in gas plants to condition raw natural gas for market. They also attempt to upgrade the value of natural gas streams by removing gas liquids contained in these streams and selling them for a profit. Unfortunately, this is not always possible. Gas processing profit margins swing up and down in line with the volatility of the natural gas and gas liquids markets. Consequently the return on gas processors invested capital also swings up and down through ''good years'' and ''bad years''. Until recently, gas processors have had to bear the risk associated with these swings in margins. While an efficient market exists for products like crude oil on the New York Mercantile Exchange, no similar market has been available for gas liquids. The NYMEX propane contract has not developed sufficient liquidity for year round hedging of propane, much less the other gas liquids. Processors in regions without access to the Belvieu market encounter an even more difficult task attempting to use the NYMEX contract to hedge. Today this inability to manage risk is beginning to change. The natural gas markets have led the way since their deregulation with an actively traded over-the-counter forwards market firmly established. An over-the-counter forwards market for gas liquids has also started to emerge. It is through these new and emerging markets that a gas plant's profitability can be hedged

Canadian natural gas market: dynamics and pricing -- an energy market assessment

International Nuclear Information System (INIS)

2000-11-01

This publication is part of the Energy Market Assessment Program of the National Energy Board. It focuses on identifying factors that affect natural gas prices and describe the current functioning of domestic regional markets in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and in the Atlantic provinces.The report emphasizes the growth in demand for natural gas throughout North America, and the aggressive response by producers to the current high price environment with increased drilling programs. The report also predicts a supply and demand adjustment over time, and an accompanying relief in natural gas prices, although the Board is not able to predict with certainty any movements in commodity markets. The Board's findings indicate that domestic users of natural gas paid less than export customers until 1998, at which point the two prices have converged. The end result of the convergence was that Canadians have had access to natural gas under terms and conditions which were no less favourable than those in effect for export customers. The influence of electronic trading systems is reviewed, noting that spot markets and futures markets such as the NYMEX and AECO-C/NIT have had a significant impact on the pricing of natural gas, mostly by allowing market participants to manage price volatility by forward contracting. 1 tab., 42 figs., 1 glossary

The drivers behind the globalization of natural gas markets

Energy Technology Data Exchange (ETDEWEB)

Ahmed El Hachemi Mazighi [Sonatrach Commercialisation, Algiers (Algeria)

2006-06-15

Today, the globalisation of natural gas markets is a topic much discussed amongst gas industry practitioners, policy makers and academics. If there is a consensus on a tendency towards the ''commoditisation'' of natural gas markets, there is less agreement on the certainty of the global approach to gas marketing. The aim of this paper is to untangle the main drivers behind the globalisation of natural gas markets, both on the demand and supply sides, and to discuss problems related to the market structure, such as price arbitrages and organised markets. The paper will conclude that the globalisation of natural gas markets cannot be approached as a deterministic problem and as a consequence, there is still no precise answer as to when the different regional gas markets will forge a global one. (author)

Modelling gas markets - a survey

International Nuclear Information System (INIS)

1997-01-01

This report reviews research of relevance to the analysis of present and future developments of the European natural gas market. The research activities considered are confined to (1) numerical models for gas markets, (2) analyses of energy demand, and (3) analyses of behaviour and cost structures in the transmission and distribution sector. Most of the market models are strictly micro economic and assume perfect competition or a game-theoretical equilibrium. They use sophisticated solution concepts, but very simplified specifications of supply and demand functions. Most of the research on demand is econometric analyses. These have more detailed model specification than have the aggregated market models. It is found, however, that the econometric literature based on neo-classical economics has not yielded unambiguous results and the specifications disregard important real world aspects of gas demand. The section on demand concludes that the extent of the gas grid is an important determinant for gas demand, but there has been virtually no research on what determines this variable. Data about transmission and distribution of gas in Europe is scarce and only a few non-econometric and virtually no econometric analyses are available. However, some conclusions can be made from relevant North American literature: (1) there has been significant autonomous technical progress in the transmission industry, (2) distribution costs strongly depend on geographical and other conditions, and (3) ownership, whether private or public, may be important for distribution costs and pricing policies. 56 refs., 3 figs., 1 tab

Modelling gas markets - a survey

Energy Technology Data Exchange (ETDEWEB)

NONE

1997-12-31

This report reviews research of relevance to the analysis of present and future developments of the European natural gas market. The research activities considered are confined to (1) numerical models for gas markets, (2) analyses of energy demand, and (3) analyses of behaviour and cost structures in the transmission and distribution sector. Most of the market models are strictly micro economic and assume perfect competition or a game-theoretical equilibrium. They use sophisticated solution concepts, but very simplified specifications of supply and demand functions. Most of the research on demand is econometric analyses. These have more detailed model specification than have the aggregated market models. It is found, however, that the econometric literature based on neo-classical economics has not yielded unambiguous results and the specifications disregard important real world aspects of gas demand. The section on demand concludes that the extent of the gas grid is an important determinant for gas demand, but there has been virtually no research on what determines this variable. Data about transmission and distribution of gas in Europe is scarce and only a few non-econometric and virtually no econometric analyses are available. However, some conclusions can be made from relevant North American literature: (1) there has been significant autonomous technical progress in the transmission industry, (2) distribution costs strongly depend on geographical and other conditions, and (3) ownership, whether private or public, may be important for distribution costs and pricing policies. 56 refs., 3 figs., 1 tab.

Marketing activities of a natural gas company

Energy Technology Data Exchange (ETDEWEB)

Goldammer, D [Thyssengas G.m.b.H., Duisburg (Germany, F.R.)

1978-01-01

The last 10 years have produced an extra ordinary upswing in the gas industry. Natural gas could, in part, satisfy the demands in fields previously reserved for heating oil. However, after these successes it seems necessary to analyze the new initial situation for future marketing activities and to find a new strategy. This investigation is concerned with those tasks. Crucial points are dealt with that represent interesting of activities for gas-supply initiatures, and the author tries to show by what means these efforts can be crowned with success. All important sectors of the market are discussed, new technological developments are dealt with briefly, and finally the special case of opening up new areas for natural gas-supply is examined. It is regarded as an absolute necessity that marketing information for new activities should be appreciably improved by market surveys. The whole article describes the activites that have arisen from the co-operation between Thyssen gas and the gas supply undertakings supplied by Thyssen gas.

The Integration of Corporate Non-Market and Market Strategies

DEFF Research Database (Denmark)

Xie, Peihong; Li, Xin; Xie, Xuemei

2014-01-01

Purpose: This paper aims to systematically examine the key notion of integration of non-market and market strategies in the increasingly popular study of corporate non-market strategies. Design/methodology/approach: This paper is based on a brief literature review of the non-market strategy (NMS...... explore how to seamlessly coordinate non-market and market strategies in order to gain maximal synergies. Originality/value: This paper is the first to examine the key notion of integration in a systematic manner. It is the first to propose a three-question solution to systematic understanding......) research that shows the existing literature does not offer a clear and systematic account of the key notion of integration. It suggests any systematic account of integration should address at least three interrelated questions, i.e. why, what and how to integrate non-market and market strategies? Findings...

The new East Coast natural gas market

International Nuclear Information System (INIS)

MacLean, I.; Cowan, N.

1998-01-01

Market demand for natural gas in Canada's Maritime provinces was discussed. The Atlantic market represents the largest potential region, currently without access to natural gas in Canada or the United States. Maritimes and Northeast Pipelines and the Sable Offshore Energy partners have made great efforts to introduce and market natural gas as well as to provide pipeline transportation services in the Maritimes and New England markets. Maritimes and Northeast Pipelines is a partnership project with Westcoast Energy, Mobil Oil, and Duke Energy. Theirs is the first pipeline project to deliver gas, but it will certainly not be the last gas project in the region. Maritimes and Northeast Pipelines now has 180,000 MMBtu/day of phased-in Canadian load committed to firm service agreements for delivery in the first 24 months of operation. In addition to these firm service agreements, an additional 60,000 MMBtu/day is signed for future lateral extensions to service emerging markets. figs

Gas markets: A promising tomorrow starts today

International Nuclear Information System (INIS)

Safrance, C.F.

1991-01-01

The current state of the natural gas market and the new opportunities provided by the high availability and low price in Ontario are reviewed. Direct purchase opportunities have stimulated renewed interest in natural gas for large-volume users, and aggressive promotion by brokers in central markets has seen expanded use of natural gas by clients who would otherwise be using alternative energy sources. New market segments expected to realize significant gains are outlined. These include gas-fired cogeneration or combined cycle power generation, which could represent an incremental gas load of 100-150 billion ft 3 in the short to medium term. Such a development will be aided by a recently announced Ontario Hydro target of increasing non-utility generation from 2,100 MW to 3,100 MW by the year 2000, and by a government policy to replace electric heating in social housing projects with gas heating. Other market opportunities are in natural gas cooling systems and in the transportation sector, where natural gas fuelled vehicles are being introduced to urban transit systems, taxis, and courier fleets

Natural gas market - Market opening in Switzerland and a selection of European Union countries

International Nuclear Information System (INIS)

Wild, J.; Vaterlaus, S.; Worm, H.; Spielmann, Ch.; Finger, M.

2007-02-01

This comprehensive report for the Swiss Federal Office of Energy (SFOE) takes a look at the situation in Switzerland and Europe as far as the liberalisation of the natural gas market is concerned. Comparisons are made between the situation for natural gas and electricity markets. The report discusses the economical and technical characteristics of the gas business such as gas sources, transport, storage and trading as well as the associated investment risks. The gas and electricity supply systems are compared from the supply and demand viewpoints and as far as trading and the increasing of efficiency are concerned. The Swiss gas market is compared with those of selected European countries. Market structures and regulatory aspects are examined and the resulting effects on the market and gas prices are reviewed. The effects of market opening are discussed from both the supplier and consumer points of view

Retail markets. Electricity and natural gas retail markets Observatory 2. Quarter 2014

International Nuclear Information System (INIS)

2014-06-01

The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

Retail markets. Electricity and natural gas retail markets Observatory 1. Quarter 2015

International Nuclear Information System (INIS)

2015-03-01

The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

Retail markets. Electricity and natural gas retail markets Observatory 3. Quarter 2015

International Nuclear Information System (INIS)

2015-09-01

The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

Retail markets. Electricity and natural gas retail markets Observatory 4. Quarter 2015

International Nuclear Information System (INIS)

2015-12-01

The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

Retail markets. Electricity and natural gas retail markets Observatory 1. Quarter 2016

International Nuclear Information System (INIS)

2016-03-01

The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

Retail markets. Electricity and natural gas retail markets Observatory 2. Quarter 2015

International Nuclear Information System (INIS)

2015-06-01

The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

Retail markets. Electricity and natural gas retail markets Observatory 4. Quarter 2013

International Nuclear Information System (INIS)

2013-12-01

The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

Retail markets. Electricity and natural gas retail markets Observatory 1. Quarter 2014

International Nuclear Information System (INIS)

2014-03-01

The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

Retail markets. Electricity and natural gas retail markets Observatory 3. Quarter 2014

International Nuclear Information System (INIS)

2014-09-01

The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

Retail markets. Electricity and natural gas retail markets Observatory 3. Quarter 2013

International Nuclear Information System (INIS)

2013-09-01

The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

Retail markets. Electricity and natural gas retail markets Observatory 4. Quarter 2014

International Nuclear Information System (INIS)

2014-12-01

The retail markets Observatory aims to provide general monitoring indicators of electricity and natural gas retail markets in France. This Observatory is updated on a Quarterly basis and published on CRE's web site (www.cre.fr). The first part of the report summarises the highlights of the electricity market (situation, market shares, suppliers, sales, dynamic analysis, regulated prices). The natural gas market is detailed in the second part

The future gas market in Europe

International Nuclear Information System (INIS)

Lindberg, P.

1992-01-01

The views of a major North Sea gas producer on the future development of the European markets for natural gas will be presented by Statoil. The paper focuses on the anticipated growth of the demand for gas in Europe and discuss the main driving forces, such as environmental concerns, gas demand for power generation, diversity of energy supply and the emerging opportunities in Eastern/Central Europe. Further more the views from a supplier and a gas seller observing the possible, future structural changes of the European gas market now subject to discussion and definition in the European Community will be presented. In conclusion, the consequences for Norway as a gas supplier is discussed

Regulation and development of the Argentinean gas market

International Nuclear Information System (INIS)

Ponzo, Ricardo; Dyner, Isaac; Arango, Santiago; Larsen, Erik R.

2011-01-01

Gas markets are becoming increasingly important around the world and the long-term evolution of these markets is of strategic importance for many countries. This makes it essential to understand how regulation and intervention in these markets affects the long-term prospect for the secure supply of gas. We use Argentina as a case to illustrate some of the issues and consequences of gas regulation. Argentina is a country that has had a significant increase in the use of gas over the years, and where a potential gas deficit looms large in the present and the future. Based on a simulation model developed to understand the supply of gas in Argentina, we discuss how regulation will influence the long-term supply of gas in both Argentina and surrounding countries. Using the model, we develop a series of scenarios to highlight the consequences of different current and possible future interventions in the market by the Regulator. Finally, we discuss short-term regulatory options to reduce the impact of a gas deficit, and the possibility of securing the long-term supply of gas in Argentina. - Research Highlights: →This study show that even short intervention in markets can have long term impact. →Simulation can help to understand the evolution of the Argentinean gas markets. →Scenarios highlight the gas shortage.

Increased use of gas in the country: Norway as a part of an European gas market

International Nuclear Information System (INIS)

Bjoerndalen, Joergen; Nese, Gjermund

2005-06-01

Norwegian authorities want natural gas to be increasingly used in Norway. The development and establishment of a Norwegian market for gas demands large investments in infrastructure. These investments would have to be done with a large uncertainty attached to future gas prices and - volumes in such a market. As a consequence of Norwegian gas participating in an international market many of the frame conditions for the extension of a future internal market for gas would be set by the international development. In this article several factors connected to the market structure and pricing principles in the European gas market are pointed out. The focus is on the historical development and on what is viewed as essential facts in the development of a future European gas market. The development seems firstly to influence the development in the EU work for an internal market for gas through a gradual liberalisation of the national markets. This work has apparently had a reducing effect on the gas prices to the customers in the liberalised parts of the markets. It is however, stressed that the approach of gradual liberalisation may prove to have some negative consequences for the development of efficient competition in the gas markets. Another aspect mentioned is the development towards spot markets for gas the so-called ''gas hubs'' and more short-term competition types. This type of gas trade is expected to more and more replace the traditional long-term take-on-pay-contracts. In reality it would be the prices noted in the ''gas hubs'' that represent the alternative profits for the Norwegian gas producers and therefore mainly would determine the prices on the future internal gas market. Consequently the Norwegian authorities may play a main role in determining the conditions for an increased use of gas in Norway but the price of gas and consequently the extent of such an internal market as to sold gas volume would mainly be determined by the development in the European

Achieving energy security through integrated Canadian-American markets

Energy Technology Data Exchange (ETDEWEB)

Moens, A. [Fraser Inst., Vancouver, BC (Canada); Rastin, T.; O' Keefe, G. [Simon Fraser Univ., Burnaby, BC (Canada)

2006-07-01

The oil and gas sector in the United States and Canada has become increasingly integrated over the last 2 decades, and competitive market forces have displaced attempts at government intervention in both countries. Regulatory measures in both countries are often geared to optimize free-market exchanges. As a result, trade in oil, gas, and electricity is flourishing between Canada and the United States. This paper argued that the relationship between the United States and Canada is under increasing pressure to change. In Canada, energy nationalism and the rising importance of Alberta's oil sands deposits may cause other regions to look at political methods to redistribute wealth or redirect trade flows. The extraction methods used by the oil sands industry as well as Arctic, offshore oil and coalbed methane (CBM) industries are more detrimental to the environment than traditional methods of energy source development, and may attract critics who will call for freezes on production and excessive government intervention. Data on energy production, consumption and trade in North America was provided as well as a history of the evolution of market and regulatory conditions. Challenges and opportunities in the oil and gas sector were outlined. It was recommended that governments in both countries emphasize their commitment to market-based solutions and attempt to remove uncertainties arising from environmental restrictions and First Nations claims. 104 refs.

Achieving energy security through integrated Canadian-American markets

International Nuclear Information System (INIS)

Moens, A.; Rastin, T.; O'Keefe, G.

2006-01-01

The oil and gas sector in the United States and Canada has become increasingly integrated over the last 2 decades, and competitive market forces have displaced attempts at government intervention in both countries. Regulatory measures in both countries are often geared to optimize free-market exchanges. As a result, trade in oil, gas, and electricity is flourishing between Canada and the United States. This paper argued that the relationship between the United States and Canada is under increasing pressure to change. In Canada, energy nationalism and the rising importance of Alberta's oil sands deposits may cause other regions to look at political methods to redistribute wealth or redirect trade flows. The extraction methods used by the oil sands industry as well as Arctic, offshore oil and coalbed methane (CBM) industries are more detrimental to the environment than traditional methods of energy source development, and may attract critics who will call for freezes on production and excessive government intervention. Data on energy production, consumption and trade in North America was provided as well as a history of the evolution of market and regulatory conditions. Challenges and opportunities in the oil and gas sector were outlined. It was recommended that governments in both countries emphasize their commitment to market-based solutions and attempt to remove uncertainties arising from environmental restrictions and First Nations claims. 104 refs

Opening of the French gas market

International Nuclear Information System (INIS)

Syrota, J.

2002-01-01

A report on the opening of the French gas market has been established, on the request of both the French minister of economy, finances and industry and the state secretary of industry, as expressed in their respective letters addressed to the president of the commission of electric power regulation (CRE). This report follows the step report on the opening of the French gas market published on January 15, 2002. It presents a status of the French gas market since August 2000, date of the enforcement of the European Union directive 98/30/CE, and expresses some recommendations about the main questions that should fall into the field of the future gas regulation. This report was elaborated before the project of law relative to the energy markets and published on October 24, 2002. These recommendations will have to be adapted to the dispositions of the law. This article presents some excerpts of the synthesis report. (J.S.)

Which way for Europe's gas storage market?

International Nuclear Information System (INIS)

Hureau, Geoffroy; Cornot-Gandolphe, Sylvie

2013-06-01

This slide show presents in a first part the 2013 Situation of the European gas storage market (Capacity, Gas Demand vs. Gas Storage, Spreads and Volatility, LNG effect, Storage Price, Utilization of Storage Facilities, Security of supply). The future of European Gas Demand and Supply are presented in a second part (Demand and Supply Factors, Market Liberalization, Estimates of European UGS Needs by 2030, Planned Working Gas Capacities in Europe)

The gas market

International Nuclear Information System (INIS)

2015-01-01

A first part proposes an overview of the current situation of the gas market and predictions regarding gas consumption and turnovers of gas producers and dealers, indication of important recent events, and a dashboard of the sector activity. A second part proposes an annual report on trends and on the competition context. It describes the activity structure (sector organisations, gas types, main customers, heating modes in French housing, tariff offers), indicates the main determining factors for the sector activity, describes the context (temperature evolution, thermal electricity production, production of the chemical industry, housing stock, natural gas consumption), analyses the evolution of the sector activity (trends, indicators), describes the sector economic structure (upstream sector, gas supply), and gives an overview of actors: historical suppliers, alternate suppliers, highlights of the sector, company rankings, and financial performance

The entry of China to the gas market: constraints and opportunities

International Nuclear Information System (INIS)

Locatelli, C.

2004-01-01

In the next 20 years, China will emerge as a major importer of gas and thus shape the energy exchanges and markets in Asia. But different constraints must be overcome. The increase of natural gas share in the Chinese energy balance will depend on the country's capacity to create a unified gas market in place and instead of the fragmented exchange's. This implies several economic and institutional reforms (such as the energy price reform). One important element that will determine the growth of the Chinese gas industry concerns the role of international investors. The growth of the Chinese gas demand would lead to a radical change oi the country's energy policy, which up until now has been dominated by the search for self-sufficiency. From this point of view, the question of the choices of the main gas suppliers is essential concerning the Chinese energy security. Different countries are in competition. But the choices of the main suppliers are very linked with the way in which China perceives its integration at the international level and in the Asian region. (author)

The relationship between the political authorities and the commercial actors in the European natural gas market

International Nuclear Information System (INIS)

Mjelde, Jarle Christian

1998-01-01

In summarizing the reasons for the fall of the Roman empire one has found about 210 significant ones. Without too much comparison the Roman empire and the EU natural gas market have similarities in connections between political authorities and the commercial actors in the European natural gas market. The area has consisted of several independent markets with different solutions that from 1988 has been tried integrated in an inner energy market. Several governmental and private actors have interest in this sector and both inhabitants and businesses are affected by alterations in a national natural gas market. This process is not yet finished. The thesis gives a broad description of the topic by including as many as possible of the EU member states. The topic is large and complex and the author has had to make a choice which parts to emphasize. There are chapters on the theoretical basis, the natural gas industry, what factors may explain the relationship between the political authorities and the commercial actors in the national natural gas market in each EU member and how does the EU Commission goals regarding free competition in the energy market affect the relationship between the political authorities and commercial actors in the national natural gas market

The Maritimes natural gas market overview and assessment : an energy market assessment

International Nuclear Information System (INIS)

2003-06-01

The National Energy Board continually monitors the supply of all energy commodities in Canada along with the demand for Canadian energy commodities in domestic and export markets. This report provides an assessment of the functioning of the natural gas market in the Maritimes and discusses several issues facing the market. The focus of the report is on the existing markets served by the Maritimes and Northeast Pipeline (M and NP) in Nova Scotia and New Brunswick. It also includes Prince Edward Island, another Maritime market that may be served by the pipeline before the end of the decade. Since the initiation of the Sable Offshore Energy (SOE) Project more than 3 years ago, pipeline facilities have been built off the mainline M and NP system to serve Halifax and Point Tupper in Nova Scotia, and Saint John, Moncton, and St. George in New Brunswick. Enbridge Gas New Brunswick has built distribution facilities in Fredericton and Oromocto, New Brunswick to serve large industrial, commercial and residential consumers. A distribution system has not been set up for residential or commercial customers in Nova Scotia. Approximately 20 per cent of the Scotian production is being consumed in the Maritimes, while 80 per cent of the gas produced from the SOE Project is being exported to the United States. Despite the high export, the Board is satisfied that the market is working to the benefit of Canadians because energy users in the Maritimes already have access to a variety of fuels at competitive prices. The Maritimes also benefited from the development of the natural gas industry and the export market has provided a large anchor market necessary for the development of offshore reserves. Domestic demand has also grown due to a pipeline system policy that has maintained low transportation rates to domestic users. The challenges facing the Maritimes gas market include the fact than many of the markets in the Maritimes are small, thereby reducing the economics of serving these

Eesti Gas, Estonia. Sales and marketing course

International Nuclear Information System (INIS)

1994-01-01

A weekly sales and marketing course was organized by the Dansk Olie and Naturgas (the National Oil and Gas Company of Denmark) in Denmark for the Eesti Gas representatives. The program encompassed a survey of the Danish natural gas marketing, sales to the gas utilities and to industry, use of the natural gas in cogeneration plants and the gas pricing as an instrument of economic and environmental policy. Examples of negotiations with Danish industrial and municipal consumers were presented. Competitiveness of natural gas compared to other energy sources was discussed, taxation principles considered. (EG)

Energy market reform and greenhouse gas emission reductions

International Nuclear Information System (INIS)

Anon.

1999-01-01

The report reviews micro-economic reform in the energy market and measures the impact that energy market reform is expected to have on greenhouse gas outcomes. It indicates that reform in the electricity and gas industries is delivering what was promised, an efficient market with lower energy prices and, over the longer term, will deliver a gradually reducing rate of greenhouse gas emissions per unit of energy produced. It also recognises that energy market reform has removed some barriers to the entry of less greenhouse gas intense fuels. These trends will result in reduced greenhouse gas intensity in the supply of energy and significant reductions in the growth in greenhouse gas emissions compared to what may have been expected without the reforms

Market integration and market concentration in horizontally differentiated industries

OpenAIRE

Eckel, Carsten

2001-01-01

This paper derives the impact of market integration on equilibrium firm size and market concentration in horizontally differentiated industries. We show that market concentration (measured by the number of firms) can rise as a consequence of market integration if firms engage in R&D competition. We also demonstrate that whether concentration occurs or not depends on the R&D production function and on consumer preferences. This result implies that the welfare effects of market integration are ...

Wholesale gas market indicators - December 2013

International Nuclear Information System (INIS)

2013-12-01

The wholesale gas market indicators publication aims to provide general monitoring indicators about: wholesale gas prices, gas trade between France and neighboring countries, infrastructures availability and utilisation

Wholesale gas market indicators - September 2013

International Nuclear Information System (INIS)

2013-09-01

The wholesale gas market indicators publication aims to provide general monitoring indicators about: wholesale gas prices, gas trade between France and neighboring countries, infrastructures availability and utilisation

Market brief : the oil and gas market in Bolivia

Energy Technology Data Exchange (ETDEWEB)

NONE

2004-03-01

This report presents a market overview of the oil and gas sector in Bolivia and describes the potential for Canadian suppliers to enter into joint ventures to establish local production facilities and transfer technology expertise. Bolivia has an estimated 54.9 trillion cubic feet of natural gas reserves and 440.5 million barrels of proven oil reserves. The main hope for future economic growth in Bolivia hinges on increasing natural gas exports. Opportunities for Canadian companies exist in exploration, production and pipeline construction. There is also a demand for drilling machinery equipment, pipeline components and services for the expansion of the proposed Bolivia-Brazil pipeline. The largest energy company in Bolivia is Repsol YPF which operates through its subsidiary Empress Petrolera Andina. The largest end-users of oil and gas equipment and services include domestic upstream operators and international oil majors and international exploration and production companies. This report describes the key factors shaping market growth along with the competitive environment, local capabilities, international competition and the Canadian position. Considerations for market-entry in Bolivia were also outlined.

Medium-Term Oil and Gas Markets 2011

Energy Technology Data Exchange (ETDEWEB)

NONE

2011-06-16

Oil and gas markets have been marked by an increased divergence in recent months. On the one hand, oil market developments have generated an unpleasant sense of deja vu: rapid demand growth in emerging markets eclipsed sluggish supply growth to push prices higher even before the conflict in Libya tightened supplies still further. Oil prices around $100/bbl are weighing down on an already-fragile macroeconomic and financial situation in the OECD, pressuring national budgets in the non-OECD and causing price inflation of other commodities, as well as political concerns about speculation. There is an uncanny resemblance to the first half of 2008. On the other hand, in the world of natural gas an amazing disconnect has developed as demand recovered to well above pre-financial-crisis levels in most major regions. Gas markets have tightened in Europe and Asia, where prices are about twice the level seen in the United States, as the unconventional gas revolution is in full swing. From the upstream implications of the Arab Spring to the macroeconomic consequences of the eurozone crisis, energy markets are experiencing one of the most uncertain periods in decades. This publication provides a comprehensive outlook for oil and gas fundamentals through 2016. The oil market analysis covers demand developments on a product-by-product and key-sector basis, as well as a detailed bottom-up assessment of upstream and refinery investments, trade flows, oil products supply and OPEC spare capacity. The gas market analysis offers a region-by-region assessment of demand and production, infrastructure investment, price developments and prospects for unconventional gas. It also examines the globalising LNG trade.

How can natural gas markets be competitively organized

International Nuclear Information System (INIS)

Funk, C.

1992-01-01

In this paper it will be discussed how to most effectively give room to competitive forces in natural gas markets, given the traditional merchant pipeline as point of departure. Alternative models of organizing the market will be reviewed: we first consider decreasing barriers to entry and then analyze advantages and drawbacks of a third party access system. In this context different forms of implementing a competitive market for transportation capacity and coordinating it with gas trade are discussed, among them a simultaneous auction of gas and transmission capacity. Finally a hub system of point markets in conjunction with third party access will be suggested to allow for competitive markets for gas and transportation service. 33 refs

Natural gas market assessment: Long-term Canadian natural gas contracts

International Nuclear Information System (INIS)

1992-08-01

A descriptive analysis is presented of the changes which have occurred and the developing trends in the long-term Canadian contracts governing the sale of western Canadian gas into the domestic and export markets from 1985 to 1991. The report is limited to domestic and export contracts for Canadian gas and does not include imported gas under contract. Contract structures prior to deregulation, the changing role of long-term contracts, size and duration of long-term contracts, and terms and conditions of long-term contracts are discussed. Important changes since the mid-1980s include: increased flexibility in long-term contracts enabling the parties to respond more readily to changing supply and demand conditions; greater balance between the buyer's obligation to purchase and the seller's obligation to deliver; flexible and increasingly simple pricing terms that track competitive market conditions; shorter contract terms; reduced contract volumes as smaller end-users and producer/marketers enter the market; and unbundling of gas sales and transportation service providing a wider range of contracting choices and options. 36 figs., 2 tabs

The emergent natural gas markets

International Nuclear Information System (INIS)

Dewert, F.; Meeder, J.

1998-01-01

A 30% increase of natural gas consumption worldwide is expected to occur since the year 2010. This development will concern countries located outside the traditional markets, in particular in central and eastern Europe, Asia, Africa and south America. This paper summarizes the talks given by the different representatives of these regions who explain the expected evolutions of the natural gas market in these areas: reserves, production, consumption, demand, competition with other energy sources, financial aspects.. (J.S.)

Integrated energy markets and varying degrees of liberalisation: price links, bundled sales and CHP production exemplified by Northern European experiences

International Nuclear Information System (INIS)

Jacobsen, H.K.; Fristrup, P.; Munksgaard, J.

2006-01-01

Liberalisation of energy markets has during the last 20 years been gradually introduced in many countries. The liberalisation has led to concerns regarding the markets' state of competition and fears that market power existence can result in less efficiency gains than what is expected from liberalisation. Concerns have also been raised as to whether specific consumer groups will be affected by limited competition in markets. Much of the concern has been concentrated on the electricity markets, but the development of energy sectors with integration of activities within natural gas, electricity and the oil sector creates the need to examine market power aspects across these markets. This paper examines the concentration trends in the Northern European markets for electricity and natural gas, combined with regional district heating aspects, especially with respect to the situation in Denmark. The situation with natural gas companies supplying to both small-scale CHP and to retail heat customers is discussed, for instance, which changes of regulatory regime for domestic heating customers should be considered when the natural gas market is being liberalised? The interlinked nature of the energy markets is described and examples of impacts from one market with limited competition to other markets with seemingly well-functioning competition are given. The specific case of large CHP production facilities with output on the regulated district heating market and the competitive Nordic electricity market is examined. How much of the fluctuations in price experienced in electricity markets should be reflected in the price of heating supplies? To which degree do the heating customers have to bear the burden of low-electricity market prices? Regulation of liberalised markets is discussed focusing on the interaction between one regulated market and the related energy markets that are liberalised. Existing regulation on the markets are compared to a situation where liberalisation

Integrated energy markets and varying degrees of liberalisation: Price links, bundled sales and CHP production exemplified by Northern European experiences

International Nuclear Information System (INIS)

Klinge Jacobsen, Henrik; Fristrup, Peter; Munksgaard, Jesper

2006-01-01

Liberalisation of energy markets has during the last 20 years been gradually introduced in many countries. The liberalisation has led to concerns regarding the markets' state of competition and fears that market power existence can result in less efficiency gains than what is expected from liberalisation. Concerns have also been raised as to whether specific consumer groups will be affected by limited competition in markets. Much of the concern has been concentrated on the electricity markets, but the development of energy sectors with integration of activities within natural gas, electricity and the oil sector creates the need to examine market power aspects across these markets. This paper examines the concentration trends in the Northern European markets for electricity and natural gas, combined with regional district heating aspects, especially with respect to the situation in Denmark. The situation with natural gas companies supplying to both small-scale CHP and to retail heat customers is discussed, for instance, which changes of regulatory regime for domestic heating customers should be considered when the natural gas market is being liberalised? The interlinked nature of the energy markets is described and examples of impacts from one market with limited competition to other markets with seemingly well-functioning competition are given. The specific case of large CHP production facilities with output on the regulated district heating market and the competitive Nordic electricity market is examined. How much of the fluctuations in price experienced in electricity markets should be reflected in the price of heating supplies? To which degree do the heating customers have to bear the burden of low-electricity market prices? Regulation of liberalised markets is discussed focusing on the interaction between one regulated market and the related energy markets that are liberalised. Existing regulation on the markets are compared to a situation where liberalisation

Natural gas markets in the Pacific Rim

International Nuclear Information System (INIS)

Hertzmark, D.I.

1991-01-01

In the 1980s, Asian energy markets expanded at a rapid rate to meet the surge in demand from Japan, South Korea, and Taiwan. This demand boom coincided with an increase in non-OPEC oil production in the region. As oil production stabilizes, demand appears to be surging again, but this time in the Southeast Asian countries. Natural gas will play a key role in this expansion of energy use and could start to lead rather than follow the oil market. This will be especially true as compressed natural gas and oxygenates start to take significant shares of the transportation fuel markets, while the role of residual fuel oil is increasingly usurped by gas for environmental reasons. Many new gas sources such as Papua New Guinea, Siberia, China, and Canada will fight for market share while domestic demand in Indonesia and Malaysia takes up increasing proportions of those countries' gas production. Extensive regional transportation schemes are likely to direct more of the gas output of Southeast Asia to intra-ASEAN uses. 2 tabs

Gas markets and pricing in Asia

International Nuclear Information System (INIS)

Mashayekhi, A.; Law, P.L.

1992-01-01

The issues of natural gas market development and pricing are reviewed within the context of specific Asian countries where gas plays an important role. Within Southeast Asia, Malaysia's Penninsular Gas Utilization project signals a new era in pipeline gas trade with an agreement to supply Singapore. There is now also an opportunity to extend Malaysian pipeline supplies to Thailand, which is actively seeking natural gas from neighboring countries. The prospects for LNG are dominated by the high growth markets of Japan, South Korea, and Taiwan. LNG trade has tended to bind the region together through close economic ties. Due to the increasing damand within the supplier countries themselves and their close neighbors, it is likely that LNG consumers will increasingly need to look beyond their traditional Southeast Asian suppliers in the future, perhaps to higher cost LNG schemes outside the region. In Southeast Asia, reduction of the high volumes of associated gas currently flared from the Bombay High Field in India will not only make big contribution to meeting the country's future gas demand, but will also prove environmentally beneficial. Pakistan, in order to control its developing gas markets, has raised gas prices to consumers substantially, with beneficial effects on supply and demand. In Bangladesh, economic pricing has been important in allocating gas resources efficiently. At both the regional and global level, the link between gas use and the environment is becoming stronger, raising the question of relating gas and energy prices to environmental costs and benefits

Maritimes natural gas market : an overview and assessment

International Nuclear Information System (INIS)

Booth, G.

2003-01-01

In 1987, Canada's National Energy Board (NEB) adopted a market-based procedure (MBP) to assess long-term gas exports. The MPB included monitoring and assessment of Maritimes natural gas markets. The NEB is responsible for interprovincial and international oil and gas pipelines as well as tolls and tariffs on NEB-regulated pipelines. The NEB is also responsible for electricity and natural gas exports and exploration programs on federally regulated lands not covered by an Accord agreement. The province of New Brunswick requested a new set of rules for the export of natural gas from the Maritimes to ensure competitiveness with other jurisdictions. The NEB decided that the public interest is best served by allowing the market to work. It also decided that the developing Maritimes market faces several challenges not faced by buyers in the export market. It was concluded that the market is working reasonably well to meet the needs of domestic consumers. 20 per cent of Scotian gas is being used in the Maritimes and many laterals have been constructed to extend service. Most major population centres have natural gas. However, there is no residential or commercial natural gas service in Nova Scotia, and only limited penetration of natural gas in residential and commercial markets in New Brunswick. Maritimers have a long history of using other fuel options and must make capital investment to switch to natural gas. They must, therefore, be convinced that investment will pay off in fuel savings and other benefits. The NEB will have to improve price transparency and strive for regulatory efficiency and cooperation with other jurisdictions. 2 figs

Price discovery in European natural gas markets

International Nuclear Information System (INIS)

Schultz, Emma; Swieringa, John

2013-01-01

We provide the first high-frequency investigation of price discovery within the physical and financial layers of Europe's natural gas markets. Testing not only looks at short-term return dynamics, but also considers each security's contribution to price equilibrium in the longer-term. Results show that UK natural gas futures traded on the Intercontinental Exchange display greater price discovery than physical trading at various hubs throughout Europe. - Highlights: • We use intraday data to gauge price discovery in European natural gas markets. • We explore short and long-term dynamics in physical and financial market layers. • Results show ICE's UK natural gas futures are the main venue for price discovery

Wholesale electricity, CO2, and gas market functioning. 2012-2013 report

International Nuclear Information System (INIS)

2013-10-01

The Energy Regulatory Commission (CRE) monitors transactions by participants on the French wholesale electricity and gas markets since 2006 and it monitors CO 2 trading since late 2010 in cooperation with the AMF. This power is granted by Articles L. 131-2 and L. 131-3 of the Energy Code. Therefore, in the context of its monitoring mission, CRE ensures that wholesale energy market prices are consistent with the technical and economic fundamentals of these markets. In particular, CRE strives to verify that no market power is exercised in such a way that a participant abuses its situation to attain abnormal prices, notably with regard to its costs. This mission is now also part of the European Regulation on Energy Market Integrity and Transparency of 25 October 2011 (REMIT). The REMIT organises wholesale energy market monitoring, prohibits market abuse (insider trading and market manipulation), and requires market participants to disclose any inside information they hold. It entrusts market monitoring, at European level, to the Agency for the Cooperation of Energy Regulators (ACER) in cooperation with national regulatory authorities responsible for national investigations and sanctions. The Brottes law of 15 April 2013 expressly entrusted CRE with the mission of ensuring REMIT implementation and CoRDis jurisdiction to sanction any breaches of the regulation. The energy markets are experiencing major change. The emergence of unconventional hydrocarbons in North America has profoundly changed the global balance of gas and oil production. American gas market prices dropped due to abundant supply causing a significant decline in imports of liquefied natural gas (LNG) from across the Atlantic and a strong incentive to produce electricity in gas-fired plants to the detriment of coal-fired plants. This significant decline in demand for coal in the United States significantly weakened global coal prices. World energy demand is mainly driven by emerging markets, particularly

Market Integration of Fish in Europe

NARCIS (Netherlands)

Nielsen, M.; Smit, J.G.P.; Guillen, J.

2009-01-01

This paper examines market integration between fish species in Europe, taking international market integration into account. Based on Juselius (2006), market integration is found both on the fresh and frozen markets. The Law of One Price is in force on the fresh market within the segments of

How can natural gas markets be competitively organized

International Nuclear Information System (INIS)

Funk, C.

1992-01-01

In this paper it will be discussed how to most effectively give room to competitive forces in natural gas markets, given the traditional merchant pipeline as point of departure. Alternative models of organizing the market will be reviewed: we first consider decreasing barriers to entry and then analyse advantages and drawbacks of a third party access system. In this context different forms of implementing a competitive market for transportation capacity and coordinating it with gas trade are discussed, among them a simultaneous auction of gas and transmission capacity. Finally a hub system of point markets will be suggested to improve the currently implemented third party access system and to allow for competitive markets for gas and transportation service. 33 refs., 6 figs

Ideas and suggestions for marketing natural gas

Energy Technology Data Exchange (ETDEWEB)

Goldammer, D [Thyssengas G.m.b.H., Duisburg (Germany, F.R.)

1980-04-01

The changes in the situation on the world energy market have also affected the gas supply business. This led to a re-examination of the marketing concept for natural gas. The impetus to this came from the procurement situation, the rational use of energy, the appearance of new technologies and the need to arrive at a pricing policy in line with the market. All this required a great deal of PR work and more extensive cooperation. Clarification of some points will require a market analysis to show how long-term plans will have to be established. Sales promotion activities for natural gas will have to show that the aim is to use natural gas as a substitute in high-efficiency applications rather than to increase the consumption of energy. The various activities must be closely coordinated.

The liberalization of gas markets in Europe

International Nuclear Information System (INIS)

Lecarpentier, A.

2006-01-01

On June 22, 1998 all EU Member States unanimously approved Directive 98/30/EC, the so-called Gas Directive, which paved the way for far-reaching changes in the European gas sector and for the establishment of an internal gas market. Five years have elapsed since it was transposed into national law and although markets have started to open up, their rate of progress varies. The next milestone in achieving a fully competitive European market is July 1, 2007, but there are still many obstacles to overcome. (author)

The liberalization of gas market in Europe

International Nuclear Information System (INIS)

Lecarpentier, Armelle

2006-01-01

On June 22, 1998, all EU Member States unanimously approved Directive 98/30/EC, the so-called Gas Directive, which paved the way for far-reaching changes in the European gas Sector and for the establishment of an internal gas market. Five years have elapsed since it was transposed into national law and although markets have started to open up, their rate of progress varies. The next milestone in achieving a fully competitive European market is July 1, 2007, but there are still many obstacles to overcome [it

United States natural gas markets, contracts and risks: What lessons for the European Union and Asia-Pacific natural gas markets?

International Nuclear Information System (INIS)

Talus, Kim

2014-01-01

The article examines the natural gas markets of the United States, the European Union and the Asia-Pacific region and their regulation and contractual structures. The article's main focus is on the United States natural gas markets. The European Union and Asia-Pacific markets are compared to this more developed market. By comparing the physical and ideological characteristics of, and differences between, the three main international gas markets, the article exposes the limits of regulatory and contractual transplants in this area of law and policy. Each of these markets is unique, which limits the opportunities for modelling certain market institutions on the basis of the more developed markets in the United States. This applies for both the EU and the Asia-Pacific region. - Highlights: • Differences in the physical markets impact regulation. • Regulatory transplants have risks. • The approach in energy policy should be based on “Law-in-Context” approach

RedeGasEnergia - gas and energy excellence network: a strategy for development the Brazilian natural gas market; RedeGasEnergia - rede de excelencia de gas e energia: uma estrategia para o desenvolvimento do mercado do gas natural no Brasil

Energy Technology Data Exchange (ETDEWEB)

Santos, Antonio L.F. dos [PETROBRAS, Rio de Janeiro, RJ (Brazil). Gerencia de Tecnologia do Gas Natural; Freire, Luiz G.M. [PETROBRAS, Rio de Janeiro, RJ (Brazil). Coordenacao de Tecnologia da RedeGasEnergia

2004-07-01

The present work aims at to present a new methodology of Excellency Net of Natural Gas - RedeGasEnergia for the development do natural gas market no Brazil, through in the application do model management for technologies associates different segments da economy: residential, commercial, industrial, Vehicle and of cogeneration, in accord with the Strategical Planning of the PETROBRAS. The developed methodology is based on the interaction enters the technological lines of direction of the segments of the economy and marketing lines of direction, inside of a corporative environment enters the some agents of the productive chain of the Natural Gas, which is: University, the delivering and transporting Institutions of Research and Technologies (technological arm) and companies of NG, municipal, state and federal equipment manufacturers (enterprise arm) and agencies, trade associations (governmental arm) to which of integrated and articulated form carry through a sustainable development of the Natural Gas market in Brazil. A study of case of the methodology will be shown, from the analysis of the current scenes of the use of the natural gas in light vehicles and weighed, locomotives and boats, as well as the available infrastructure for the Vehicle applications. (author)

European gas market developments. Opportunities and threats

International Nuclear Information System (INIS)

Van Oostvoorn, F.

1998-09-01

The paper is based on two studies conducted by ECN, namely a study entitled 'An analysis of the West-European gas market: a company approach' and another entitled 'Developments of gas markets across Europe' to be published in November 1998. The paper addresses the past driving factors responsible for the increasing share of gas in the EU energy demand. Furthermore it very briefly discusses the rising dependency of the European Union (EU) on gas imports from non-EU sources such as Russia and the expected gas-to-gas competition in a large number of EU countries in the next decades. 25 refs

Prospects of the European gas market

International Nuclear Information System (INIS)

Kjarstad, J.; Johnsson, F.

2007-01-01

This paper discusses prospects for increased consumption of natural gas within the European Union (EU) up to 2030. Particular emphasis is on the power generation sector, where the main growth in demand is expected to occur, on supply and infrastructural constraints and on future price of natural gas. It can be concluded that EU gas-import needs will increase substantially up to 2010, driven by a combination of rapid increase in demand in southern Europe and declining production in northern Europe. As a result there will be an increased import dependency which will affect security of supply, not only in the gas sector but also in the electricity sector. Gas demand after 2010 will partially depend on the level of continued CO 2 emission restrictions, a possible nuclear phase-out in the UK, Germany and Belgium and to what extent the option to store CO 2 in subsurface reservoirs will be applied. However, supplies of gas are plentiful, at least in the medium-term up to 2010/2015, and a number of new countries will emerge as substantial suppliers to the European gas market, increasing competition and possibly leading to a situation of oversupply between 2008 and 2012 which in turn may create a downward pressure on gas prices. In addition, the US market may, pending on demand and indigenous production, experience considerable oversupply between around 2008 and 2015, reducing the possibilities of conducting arbitrage between the two main markets in the Atlantic basin and further contributing to a downward pressure on the gas price. On the other hand, the oil price will continue to be a major determinant of the gas price and a tight oil supply/demand balance will create an upward pressure on the gas price. Global liquefaction and regasification capacity is expected to more than double between now and 2010 leading to a more flexible and global gas trading and increasing spot sales and although the cost of LNG has decreased substantially over the past three decades it is

Natural gas market assessment. Canadian natural gas market mechanisms: Recent experiences and developments

International Nuclear Information System (INIS)

1993-11-01

The increase in natural gas demand and the associated expansions of most of the pipeline systems serving western Canada have reduced the excess deliverability or excess productive capacity that existed at the time of deregulation of the natural gas industry in 1985. Based on an industry survey, the responses of natural gas buyers and sellers to recent supply difficulties are described. Specific production, transportation, and contractual difficulties were encountered in winter 1992/93 as production was stretched to meet record levels of demand during periods of very cold temperatures and as short-term spot prices reached very high levels. Problems at this time included wellhead freezeups, pipeline outages, and inadequate contract terms and conditions. Methods used to maintain gas flows to end users are reviewed, including a discussion of force majeure, spot gas purchases, storage, supply curtailment, and special loan arrangements. In 1992/93, in most instances where the responsibility fell on the end-user to solve the supply problem, the difficulty was shifted to local distribution companies who have traditionally had more experience with such situations. No cases were identified where either a firm or interruptible end-user was forced to curtail gas consumption because of inadequate supply. New market mechanisms are emerging that will enable buyers and sellers of western Canadian gas to avoid many of the problems encountered in 1992/93. These include prearranged backstopping arrangements, short-term spot markets, access to other gas basins, standardized gas contracts, electronic trading, and price risk management tools. 11 figs

Gas/electric convergence: the role of marketers

Energy Technology Data Exchange (ETDEWEB)

Merritt, M. [Westcoast Gas Services, Vancouver, BC (Canada)

1997-04-01

The role of marketers in the convergence of the gas and electric power industry was discussed. Marketers are a byproduct of deregulation. They create competition, increase industry efficiency and lower customer and regulatory costs. To stay in business, marketers must provide customers with what they want. To achieve this, electricity, which is now fully bundled (capacity, generation, energy, transmission, VAR`s, and reliability) must be unbundled. This means that the marketer must strip down the bundle and repackage the components into bundles that meet the customers` needs. The nature of convergence (retailing efficiencies of scale, leveraged growth, price correlation, risk management, arbitrage opportunities) and the forces driving it (the emergence of natural gas as the fuel of choice, marketer`s requirements to manage risk, the influence of arbitrage, consumer-driven price, and the demand for choice) were reviewed. Two practical illustrations, one from Alberta and one from the California/Oregon border area of how gas/electric convergence works in the real world, were described. 4 figs.

The players on the European gas market - 2008 edition

International Nuclear Information System (INIS)

Lecarpentier, Armelle

2008-02-01

In a context of growing dependence on extra-European sources, a growth potential in gas use for power generation and the acceleration of the liberalization process, the 2008 Edition of 'The Players on the European Gas Market' offers a unique detailed review of the positioning of players in both the upstream (production, reserves) and downstream (wholesale and retail supply) sectors of the gas chain. This 140-pages report, includes 55 tables and 29 figures, and presents an in-depth description of the European gas industry by country. The Survey 'The Players on the European Gas Market' provides: - The analysis of new upstream areas and production growth prospects, - Company rankings in terms of reserve and production volumes, - The complete overview of the whole European gas market (market characteristics, supply sources, consuming outlets, effective competition), - Strategies and key facts of the wholesale suppliers to Europe, - An in-depth review of national market structures, - The detailed positioning and analysis of national market power of the numerous companies involved in gas supply

Marketing BTUs: Gas, electricity lead oil in innovation

International Nuclear Information System (INIS)

Krapels, E.N.

1996-01-01

The transformation in relations between energy providers and users--powered by reform of electric utilities and by continuation of natural gas deregulation--is challenging several fundamental precepts of how oil companies managed their deregulation. In the wake of the price decontrol completed by the Reagan administration in 1981, oil companies (1) retreated from national business structures, (2) focused on limited range core businesses, and (3) provided minimal oil price risk management services for their customers. By contrast, the electric and natural gas industry is consolidating for the purpose of playing a role in ever-larger markets, diversifying its products and services, and providing innovative hedging instruments to itself as well as its customers. From Enron, one can purchase physical and paper energy, delivered in whatever form desired, nationwide and internationally, with or without mechanisms to manage price risk. What will impede the newly integrated energy companies--which are composite electric plus natural gas firms--from also delivering products and services now rendered by the oil companies? Could utilities organize gasoline consumers better than oil companies? If the Price Club can sell gasoline at 10 cents below market, why can't the new energy companies do so? The paper discusses what consumers want, procurement and costs, and innovations and lessons

The European Market for Seasonal Gas Storage

International Nuclear Information System (INIS)

Mahan, A.

2006-02-01

European demand for gas will grow in the years to come. Simultaneously, gas production in Europe will decrease and imported gas will be needed to replace indigenous production. Gas demand is not constant during the year. There are variations in demand on different timescales ranging from seasonal to hourly. Variations in demand are characterised by two main parameters: working volume and deliverability. Working volume - the amount of gas that can be supplied above the baseload production volume during a long (cold) period- is primarily needed to cope with the summer-winter pattern of gas consumption. Most of the summer-winter pattern comes from the temperature sensitive gas consumption by households and service industries. Gas usage by industry and the power sector are more evenly spread throughout the year and need less working volume. Deliverability - the amount of gas per hour that can be generated on a (very) cold day above the baseload capacity - is the ability to produce large volumes during short periods, e.g. for extremely cold days, or during peak periods during a day. In this paper we argue that a large amount of additional working volume will be required over the coming years. First, flexible European production will be replaced by long-distance import gas, and second, the gas market is expected to grow further. Todays market appears focus mainly on cavems for storage volume. Cavems have little working volume but are ideal for trading purposes. Consequently, Europe may be facing a deficit in working volume, i.e. the ability to cope with seasonal changes in demand. This paper aims to widen the discussion of this matter and give rise to this concern by setting out a broad analysis, exploring the market drivers for seasonal storage and identifying the public interest issues for this market. Chapter 2 gives an overview of demand for and supply characteristics of gas flexibility. Chapter 3 describes the role of gas storage facilities in the gas market

Gas and electricity 2001: new market mechanisms

International Nuclear Information System (INIS)

2001-11-01

This document brings together 15 testimonies of experts about the opening of gas and electricity markets: 1 - from the opening of the electricity market to the future deregulation of the gas market: what are the new rules of the world energy market? Gaz de France's strategy in front of the opening of the market. The problem of the gas supplies in Europe in the framework of the opening of markets; 2 - Is the access to the network the same for everybody: the regulation authority as catalyst of the electricity market; the technical network constraints and the conditions of access to the transport and interconnections; the regulatory and contractual framework of the access to interconnections; how a foreign producer can warrant the supply of electricity in France; 3 - which global offer and which new services to be supplied to clients today: what is the global offer of a new actor? Power supply and associated services: what is the global offer of new actors to answer the client's needs? 4 - What are the expectations and choices of consumers in a de-regulated environment; definitions and implementations of new European strategies of purchase: how the purchaser work has changed? 5 - What is the place of the energy trade: the implementation of the electricity stock exchange in France: Powernext. How to manage risks associated to a gas/electricity assets portfolio? (J.S.)

Natural gas - Market and environmental needs

International Nuclear Information System (INIS)

Beyer, R.

1995-01-01

The paper discusses the natural gas market and environmental needs with topics as follow: Importance of the North Sea region; sustainable development on the balance between economic use and environmental protection; role of natural gas in meeting energy demand: market needs, technologies, environmental aspects. According to the author, natural gas causes minimal pollutants because it contains virtually no pollutant-forming substances such as heavy metals, sulphur, chlorine or fluorine. No solid residues exist in the combustion space such as ash, slag, dust or soot, and the formation of thermal NO x through natural gas combustion has decreased to a very large extent as a result of technical advances. Natural gas can make a significant contribution towards reducing CO 2 emissions due to its very high hydrogen content. 12 figs

Integrated marketing communications at solar energy equipment market

OpenAIRE

I.L. Litovchenko; I.A. Shkurupskaya

2013-01-01

The aim of the article. The article is devoted to the development of the concept of «integrated marketing communications», as well as its adaptation to a specific market of solar energy equipment. The theoretical development of foreign and domestic scholars in the field of IMC is considered. The aim of the article is to define the concept of «integrated marketing communications» and use them in the market of solar еnergy equipment in an information economy. The author's definition of the c...

Natural gas pipelines: emerging market challenges

International Nuclear Information System (INIS)

Smart, A.; Balfe, P

2001-01-01

The Australian gas industry has come a long way in recent years. Most of the formerly government owned gas transmission, distribution and retail businesses have been privatised; major utility companies have been fundamentally restructured; the convergence of energy markets has seen many companies stepping outside the boundaries of their traditional businesses; and national competition policy has led to profound changes in the regulatory landscape. Yet despite the magnitude of these changes, it is clear that the journey of competitive reform has a long way to go. The Australian Gas Association's Industry Development Strategy identifies the potential for gas to increase its share of Australia's primary energy market, from around 18 percent at present to 22 percent by 2005, and 28 percent by 2015. Our analysis, using ACIL's Eastern Australian Gas Model, clearly shows that in the absence of major new sources of gas, these challenging targets will not be met and, indeed, there will be an increasing supply shortfall. However, with the emergence of new competitive supply sources such as Papua New Guinea and the Timor Sea, our modelling suggests that most of this demand can be satisfied at prices which will maintain gas' competitiveness in energy markets. Such developments provide both opportunities and challenges for the industry. In particular, they will profoundly affect the owners and operators of transmission pipeline systems. (Authors)

Supply disruptions and regional price effects in a spatial oligopoly. An application to the global gas market

International Nuclear Information System (INIS)

Growitsch, Christian; Hecking, Harald; Panke, Timo

2013-01-01

Supply shocks in the global gas market may affect countries differently, as the market is regionally interlinked but not perfectly integrated. Additionally, high supply-side concentration may expose countries to market power in different ways. To evaluate the strategic position of importing countries with regard to gas supplies, we disentangle import price components into increasing and decreasing factors. Due to the complexity of the interrelations in the global gas market, we use an equilibrium model programmed as a mixed complementarity problem (MCP) and simulate the blockage of LNG ows through the Strait of Hormuz. This enables us to account for the oligopolistic nature and the asymmetry of the gas supply. We find that Japan faces the most severe price increases, as the Japanese gas demand completely relies on LNG supply. In contrast, European countries such as the UK benefit from good interconnection to the continental pipeline system and domestic pricetaking production, both of which help to mitigate an increase in physical costs of supply as well as in the exercise of market power.

Energy market for energy. Natural gas and electricity

International Nuclear Information System (INIS)

Van Scherpenzeel, H.; De Boer, I.

2000-10-01

The aim of the title market study is to provide insight into the energy market in Argentina for the Dutch industry and business sector, focusing on the structure of the natural gas and electricity sector and the market for equipment for the production and processing of natural gas and equipment for electricity generation

Product Market Integration, Comparative Advantages and Labour Market Performance

DEFF Research Database (Denmark)

Andersen, Torben M.; Rose Skaksen, Jan

2003-01-01

Product Market Integration, Comparative Advantages andLabour Market Performance@*In a two-country model with trade driven by comparative advantages, it is considered howimperfectly competitive labour markets are affected by lower frictions in international goodstrade. Easier goods trading...... is equivalent to increased mobility of employment acrosscountries and thus a change in the trade-off between wages and employment faced by wagesetters. While the effects of product market integration on the trade-off between wages andemployment in general is ambiguous, it is shown that product market...... integration works like ageneral improvement in productivity via the specialization it allows through trade.Unambiguously, real wages and employment and welfare improve upon reductions in tradefrictions, and therefore workers are better off irrespective of whether the market power ofunions is enhanced or muted...

Wholesale gas market indicators - 4. Quarter 2012

International Nuclear Information System (INIS)

2013-01-01

The wholesale gas market indicators publication aims to provide general monitoring indicators about: wholesale gas prices, gas trade between France and neighboring countries, infrastructures availability and utilisation

Market, Country and World Effects on Regional Equity Market Integration

Directory of Open Access Journals (Sweden)

Chee Wooi Hooy

2014-08-01

Full Text Available This study explores the fundamental driving forces of regional equity market integration in a trading bloc. The determinant factors are categorized into market attribute, economic fundamentals and world information. Our sample consists of 26 equity markets of ive regional trading blocs, namely AFTA, CER, EFTA, EU and NAFTA over the period of January 1999 to  August  2005.  We  measure  market  integration  based  on  pricing  errors  as  proposed  by Korajczyk (1996 and Levine and Zervos (1998. Using panel regressions, our results show that  equity  integration  in  these  trading  blocs  is  driven  internally,  where  only  individual-market  volatility  and  economic  fundamentals  play  a  signiicant  role  in  the  process.  Intra-bloc  trade  is  found  to  enhance  regional  equity  market  integration,  supporting  the  notion that  regional  convergence  extends  beyond  the  trade  sector  that  is  promoted  in  the  trade agreements.  We  also  document  regime  shifting  effects  during  stock  market  crises,  where most  of  these  markets  became  strongly  integrated  after  a  regional  crisis,  but  integration was signiicantly weakened during a crisis that affected the world markets. Also, the level of equity market integration differs across trading blocs, where the blocs with a smaller number of country members are relatively more integrated. ";} // -->activate javascript

Liberalization of the Swiss electricity and gas market

International Nuclear Information System (INIS)

Cattin, J.

1999-01-01

The Swiss government intends to liberalize the electricity and gas market. Competition is to be introduced in the electricity sector first because the European Union is also giving priority to this industry. Moreover, electricity prices in Switzerland are too high. The principle of market liberalization is not contested, but the route to be taken to achieve this goal is a matter of heated controversy. Opinions on the power line network, non-amortizable investments, hydropower plants or the pace of market liberalization still differ too widely. Liberalization of the gas market is also in preparation, but the problems here are less complex. This is because competition already exists on the heating market. In addition, domestic gas prices are not much higher than those charged in other countries. (author)

The 'new' gas market

International Nuclear Information System (INIS)

Walker, Vornel

2000-01-01

The use of computer-aided 3-dimensional design tools to overcome problems associated with extraction of gas from unconventional gas deposits such as shale, sand and coal gas fields in landlocked nations is examined, and the economics of land based gas exploration in the USA, and the transport of the product to market are considered. The use of 3D design tools by the Pearl Development Company for providing engineering solutions for the recovery of natural gas liquids (NGL) for the Thunder Creek Gas Services company servicing the Powder River Basin in Wyoming and utilisation of the CADWorx/PIPE 3D piping design tool are reported. The benefits of the software package which allows easy visualisation of designs and produces 2D drawings from multi-discipline plant models are outlined

Natural Gas Market Hubs

Data.gov (United States)

Department of Homeland Security — A hub is a physical transfer point for natural gas where several pipelines are connected. A market center is a hub where the operator offers services that facilitate...

Impacts of market liberalisation on the EU gas industry

International Nuclear Information System (INIS)

Van Oostvoorn, F.; Boots, M.G.

1999-10-01

The paper presents an analysis of tbc effects of tbc European Union (EU) Gas Directive on the EU natural gas industry in the next ten years. First, it briefly reviews the current driving factors for increasing competition in the EU gas markets. Second, the different directions of implementation of EU Gas Directive are discussed. Finally we give an assessment of impacts of the different directions of implementation of the Gas Directive, thereby focusing on structural changes of the gas industry and the scope for reduction of consumer gas prices. Note that our assessment of the impacts is partly based on an analysis of recent trends in the EU gas market and partly on calculations with a recently developed model of the EU gas market on company level. The paper summarises the main observations of a study conducted by the Netherlands Energy Research Foundation (ECN) last year in the framework of a larger scenario study for the European Committee, Directorate-General 17, in the Shared Analysis Project, 'Economic Foundations for Energy Policy in Europe to 2020' managed by FhG-ISI. For the complete results of the ECN study, see report 'Impacts of Market Liberalisation on the EU Gas Industry', September 1999, forthcoming. Note that the analysis is limited to the gas market and does not include other impacts, i.c. on energy conservation, emissions, etc. 21 refs

Target-oriented marketing. Marketing in public gas utilities

Energy Technology Data Exchange (ETDEWEB)

Hebestreit, B [Stadtwerke Nienburg (Germany, F.R.); Symank, R [Gewerkschaften Brigitta und Elwerath Betriebsfuehrungsgesellschaft m.b.H., Hannover (Germany, F.R.)

1979-01-01

As natural gas supply and its planning are long-term matters, it is necessary to show already today the effects of the development and of the change in the structures of the energy market and to prepare necessary measures. A market research model is introduced which gives supply companies the possibility to plan sales, investments and organization in detail and to realise these by sales promotional measures.

Review of the timetable for gas and electricity market liberalisation

International Nuclear Information System (INIS)

2000-01-01

The findings of the review undertaken by PA Consulting Group on behalf of the Ministry of Economic Affairs into the feasibility of accelerating electricity and gas market liberalisation in the Netherlands are set out. The main purpose of the review was to assess the technical and organisational requirements for the two markets and to consider the time required to deliver them. The chosen market models for electricity and gas liberalisation, as set out in the Electricity Act and the draft Gas Act, were to be taken as given. A review of the market models chosen and consideration of how the markets should be delivered were excluded from the study. The results of this review have been used by the Ministry of Economic Affairs as input into the decision making process regarding the revised opening dates for the electricity and gas markets for both medium size and small customers. The report includes: A description of the market models for electricity and gas; The technical and organisational requirements and progress to date; The time required to deliver each of the two markets; and The benefits and disadvantages of synchronising gas and electricity market openings and recommended timescales

Integration of the North American energy market

International Nuclear Information System (INIS)

Lapointe, A.

2002-07-01

The US energy policy of President Bush administration proposes to develop a North American energy framework with a greater energy integration between Canada, the USA and Mexico in the respect of the sovereignty of each country. This article tries to evaluate the integration status of the energy sector in Northern America with respect to the North American free-exchange agreement and to the deregulation process observed in the natural gas and electric power sectors. The commercial energy fluxes between Canada, Mexico and the US show that the integration is a reality and that it is in constant progress. This integration is particularly important in the case of Canada and the USA while major constraints remain in Mexico where the property and exploitation of natural resources is a government monopoly. For this reason, Mexico could never exploit the full potentialities of its resources and suffers from a chronical under-investment in its energy infrastructures which limits the energy trade. Despite this, there is a strong will from the Mexican authorities to ensure the modernization of its energy sector and to contribute more to the integration process of the north American energy market. A series of reforms, and in particular the fiscal reform started by the government should reduce the excessive dependence of the government incomes with the dividends from the energy sector. This should allow the different government companies to reinvest more its benefits in order to improve the existing infrastructures and to increase the capacities (in particular in the gas and electricity sectors). Finally, the recent will of the government to open the gas sector should allow the development of this energy source. (J.S.)

LDC gas buyers adjusting to vastly changed market

International Nuclear Information System (INIS)

Share, J.

1997-01-01

In a just-released study, RKS Research and Consulting reported that while power and gas marketing firms may become key players in the deregulated energy business, few of their customers and seeing a national leader emerge. The report said while 75% of large customers interviewed already use energy marketers, only 25% evidence a clear understanding of these firms' skills and product /offerings. The study found that the energy users considered reliable energy supply, service dependability and quality/reliability of fuel sources their top three criteria and apply that to utilities and energy marketing firms. The marketers may offer some unique services, such as a commanding market presence, fuel diversity, skill in using financial derivatives and record of successful risk management, but those offerings are generally at the bottom of the list that energy users use when considering power and gas marketers, the study said. What does this all mean to the gas utilities, both in terms of buying supplies as well as providing gas against their newly emerging competitors? The author asked gas buyers from five LDCs to discuss the challenges they face in doing their jobs today. Their comments are relevant because it is not only an example of a new way of doing business, but is also indicative of the choices and problems one will endure in buying energy in an increasingly deregulated environment. And remember this: the utilities are still the predominant buyers of gas

Norwegian gas supplies for the European market

International Nuclear Information System (INIS)

Hansen, B.L.

1994-01-01

The conference paper deals with the Norwegian key role in the European gas market with increasing market shares. The supply capacity in a long-term perspective can be 65-70 bcm/year or more if export prices support the development of new and more costly gas resources. The main challenges for the Norwegian shelf are discussed. 5 figs

Dis-harmony in European natural gas market(s). Discussion of standards and definitions

Energy Technology Data Exchange (ETDEWEB)

Karasz, Michael [The Energy House GmbH, Muenchen (Germany); Pustisek, Andrej [Hochschule fuer Technik, Stuttgart (Germany); Drasdo, Peter

2013-06-15

The European Union attempts to harmonise the European natural gas market(s). In general, this is supported on national levels. Nevertheless, such harmonisation is not yet fully accomplished: neither for the rules nor for the quality specifications nor for the physical quantities and their units. Even if the current economic impact of such dis-harmony is negligible, i.e. that market participants for the time being do not have to bear additional costs caused by the lack of harmonisation, participants in the commodity market are exposed to contractual risks. Potentially, this might lead to reduced competition and reduced liquidity of each single and the European internal market for natural gas. However, as the costs for a potential harmonisation of European gas markets are estimated to be significant, the dilemma is evident and the 'political' solution of the 'harmonisation problem' will necessarily deviate from the traders' one. (orig.)

Towards a convergence of world gas markets?

International Nuclear Information System (INIS)

Legros, E.

2002-01-01

This 7. summit of the world natural gas industry leaders was jointly organized by Petrostrategies, IFP-ENSPM (French institute of petroleum and national upper school of petroleum and engines), and SPTEC consulting. Three themes were debated: the natural gas market in Europe at the eve of the second directive (while the first directive has not been fully enforced), the world development of LNG market, the gas-electric power convergence and the effects of a growing up interdependence between both energy sources. (J.S.)

Liquefied natural gas (LNG) market and Australia

Science.gov (United States)

Alam, Firoz; Alam, Quamrul; Reza, Suman; Khurshid-ul-Alam, S. M.; Saleque, Khondkar; Ahsan, Saifuddin

2017-06-01

As low carbon-emitting fossil fuel, the natural gas is mainly used for power generation and industrial applications. It is also used for heating and cooling in commercial and residential buildings as well as in transport industry. Although the natural gas reaches the end-user mainly through pipelines (if gas is available locally), the liquefied form is the most viable alternative to transport natural gas from far away location to the end user. The economic progress in Asia and other parts of the world creates huge demand for energy (oil, gas and coal). As low carbon-emitting fuel, the demand for gas especially in liquefied form is progressively rising. Having 7th largest shale gas reserve (437 trillion cubic feet recoverable), Australia has become one of the world's major natural gas producers and exporters and is expected to continue a dominating role in the world gas market in foreseeable future. This paper reviews Australia's current gas reserve, industries, markets and LNG production capabilities.

The pricing of natural gas in US markets

International Nuclear Information System (INIS)

Brown, S.P.A.; Yucel, M.K.

1993-01-01

Our econometric evidence indicates that changes in natural gas prices are unequal in the long run. Nonetheless, all downstream prices change by at least as much as the average well-head price. Statistically, residential and commercial prices change as much as the city gate price. In the face of persistent shocks, however, market institutions and market dynamics can lead to lengthy periods in which the residential and commercial prices of natural gas adjust less than the wellhead or city gate prices. Electrical and industrial users of natural gas rely heavily on spot supplies and can switch fuels easily. Their ability to switch fuels may be related to the development of a spot market to serve them. Reliance on the spot market may explain why these end users have seen a greater reduction in natural gas prices than have the LDCs over the past seven years. The ability to switch fuels may account for electrical and industrial prices being the source of shocks in their relationships with the wellhead price. It also may explain why prices in these end-sue markets are quick to adjust. Commercial and residential customers cannot switch fuels easily and rely heavily on LDCs for their natural gas. The inability of these end users to switch fuels probably contributes to the reluctance of LDCs to purchase spot supplies of gas. Reliance on contract supplies may explain why the city gate price has not declined as much as electrical and industrial prices of natural gas over the past seven years. Furthermore, the LDCs administer prices in the commercial and residential markets under state regulation

Development of gas markets in developing countries and in countries in economical transition

International Nuclear Information System (INIS)

Roze, J.; Guegan, G.; Guerrini, Y.; Marzeau, J.M.

2000-01-01

The WOC 10 working committee of the CMG 2000 worldwide gas congress was devoted to the study of gas markets in developing countries and in countries in economical transition. This committee comprises three group of studies covering the following topics: natural gas in the less developed countries (environment protection, power production, institutional framework and cooperation), natural gas in countries in economical transition (situation in Eastern Europe, reforms and investments, prices and tariffs, towards the integration to the European Union), natural gas in developing countries (financing and technology transfers, down-side gas development, economical viability, technology transfers, projects financing, recommendations), inter-region development and power production (South America, Asia, role of the worldwide bank). (J.S.)

Emerging natural gas markets in the East Asian countries - Challenges for market development and international cooperation

International Nuclear Information System (INIS)

Ozaki, Hiroshi

1997-01-01

Energy and natural gas demand as well as the natural gas market in East Asia is analyzed. Gas distribution and long distance gas transmission pipelines are considered. International cooperation is outlined for meeting the market challenges in the region. (R.P.)

Essays on the economics of energy markets. Security of supply and greenhouse gas abatement

International Nuclear Information System (INIS)

Dieckhoener, Caroline

2013-01-01

determined by investment decisions and significantly affect the level of greenhouse gas emissions. Major investment decisions of households concern investments in heating systems and in dwelling insulation. The investment decision of heterogenous households is not strictly driven by monetary objectives but also by non-monetary preferences. Hence, understanding household behavior is crucial for the development of targeted policies in greenhouse gas abatement. In the third paper of the thesis, micro-economic greenhouse gas abatement curves are derived theoretically and numerically by applying the dynamic microsimulation model (DIscrHEat) for the residential heating market, which integrates a discrete choice estimation of household behavior by using data on actual heating choices. The last paper is a panel data analysis of the effectiveness of subsidies on residential investments in energy efficiency and on energy consumption applying a differences-in-differences-in-differences approach.

Essays on the economics of energy markets. Security of supply and greenhouse gas abatement

Energy Technology Data Exchange (ETDEWEB)

Dieckhoener, Caroline

2013-02-01

determined by investment decisions and significantly affect the level of greenhouse gas emissions. Major investment decisions of households concern investments in heating systems and in dwelling insulation. The investment decision of heterogenous households is not strictly driven by monetary objectives but also by non-monetary preferences. Hence, understanding household behavior is crucial for the development of targeted policies in greenhouse gas abatement. In the third paper of the thesis, micro-economic greenhouse gas abatement curves are derived theoretically and numerically by applying the dynamic microsimulation model (DIscrHEat) for the residential heating market, which integrates a discrete choice estimation of household behavior by using data on actual heating choices. The last paper is a panel data analysis of the effectiveness of subsidies on residential investments in energy efficiency and on energy consumption applying a differences-in-differences-in-differences approach.

Northeast natural gas market outlook

International Nuclear Information System (INIS)

Denhardt, R.

2001-01-01

This power point presentation included several charts and graphs depicting the major pipeline projects, including the Alliance Pipeline, to move gas from the U.S. midwest (14.5 Bcfd) to the northeast (11.6 Bcfd). Alliance is expected to add 1.6 Bcfd of capacity and supplies could ultimately expand to 4 Bcfd. The addition of the Vector Pipeline could create excess capacity to eastern Canada. The major cause for increased power demand is power generation. For example, proposed gas combined cycle plants in Ontario equal 3.2 GW about 720 MMcfd at 90 per cent capacity, while environmental regulations have put 9.4 GW of coal at risk in Michigan. It was noted that U.S. northeast market growth is not likely to absorb all the proposed pipeline capacity, but potential capacity additions to the New England market are very significant compared to the market size. tabs., figs

Decoupling the Oil and Gas Prices. Natural Gas Pricing in the Post-Financial Crisis Market

International Nuclear Information System (INIS)

Kanai, Miharu

2011-01-01

This paper looks into natural gas pricing in the post-financial crisis market and, in particular, examines the question whether the oil-linked gas pricing system has outlived its utility as global gas markets mature and converge more rapidly than expected and as large new resources of unconventional gas shift the gas terms-of-trade. Two opposing natural gas pricing systems have coexisted for the last two decades. On the one hand, there is traditional oil-linked pricing, used in pipeline gas imports by Continental European countries and in LNG imports by the countries in Far East. The other is the system led by futures exchanges in deregulated, competitive markets largely in the UK and the US. World gas markets are changing and the basis and mechanisms of price formation are changing with them. There is no reason to expect a revolution in gas pricing, but formulas designed to address the challenges of the 1970's will need to adjust to the realities of the present and expectations for the 21. century. Because such changes will imply a redistribution of costs and benefits, vested shareholders will defend the status quo. But hopefully and ultimately, appropriately regulated markets will assert themselves and shareholders along the entire value chain will have their interests served

Optimizing the structure of the natural gas market using an agent-based modeling framework

Energy Technology Data Exchange (ETDEWEB)

Van Benthem, M.

2010-01-14

applications of the modeling framework. It contains a series of seven increasingly complex models, detailing the functionality of the modeling framework. Some general conclusions are drawn based on these models. In addition, the possibilities of using the framework as a tool for educational gaming are explained. In Chapter 6, two models of the Dutch natural gas market are developed, one of which corresponds to the pre-liberalization structure of the Dutch market and one to its post-liberalization structure. The performance of both models is then compared to assess the impact of liberalization on the Dutch market. In Chapter 7, the post-liberalization model of the Dutch natural gas market is used to perform a scenario study, in which three trends are extrapolated to the future and their impacts are studied. These trends are the transition to a sustainable energy system, the integration of the Dutch market within a single European market, and the behavioral changes induced by the liberalized market. Finally, Chapter 8 summarizes the previous chapters and provides some overall conclusions and recommendations regarding the design and implementation of natural gas policy. The study ends with some ideas for the further development of the modeling framework.

Optimizing the structure of the natural gas market using an agent-based modeling framework

International Nuclear Information System (INIS)

Van Benthem, M.

2010-01-01

applications of the modeling framework. It contains a series of seven increasingly complex models, detailing the functionality of the modeling framework. Some general conclusions are drawn based on these models. In addition, the possibilities of using the framework as a tool for educational gaming are explained. In Chapter 6, two models of the Dutch natural gas market are developed, one of which corresponds to the pre-liberalization structure of the Dutch market and one to its post-liberalization structure. The performance of both models is then compared to assess the impact of liberalization on the Dutch market. In Chapter 7, the post-liberalization model of the Dutch natural gas market is used to perform a scenario study, in which three trends are extrapolated to the future and their impacts are studied. These trends are the transition to a sustainable energy system, the integration of the Dutch market within a single European market, and the behavioral changes induced by the liberalized market. Finally, Chapter 8 summarizes the previous chapters and provides some overall conclusions and recommendations regarding the design and implementation of natural gas policy. The study ends with some ideas for the further development of the modeling framework.

The efficiency of natural gas futures markets

International Nuclear Information System (INIS)

Mazighi, A.E.H.

2003-01-01

Recent experience with the emergence of futures markets for natural gas has led to many questions about the drivers and functioning of these markets. Most often, however, studies lack strong statistical support. The objective of this article is to use some classical statistical tests to check whether futures markets for natural gas (NG) are efficient or not. The problem of NG market efficiency is closely linked to the debate on the value of NG. More precisely, if futures markets were really efficient, then: 1) spot prices would reflect the existence of a market assessment, which is proof that speculation and the manipulation of prices are absent; 2) as a consequence, spot prices could give clear signals about the value of NG; and 3) historical series on spot prices could serve as ''clean'' benchmarks in the pricing of NG in long-term contracts. On the whole, since the major share of NG is sold to power producers, the efficiency of futures markets implies that spot prices for NG are driven increasingly by power prices. On the other hand, if futures markets for natural gas fail the efficiency tests, this will reflect: 1) a lack of liquidity in futures markets and/or possibilities of an excess return in the short term; 2) a pass-through of the seasonality of power demand in the gas market; 3) the existence of a transitory process, before spot markets become efficient and give clear signals about the value of NG. Using monthly data on three segments of the futures markets, our findings show that efficiency is almost completely rejected on both the International Petroleum Exchange in London (UK market) and the New York Mercantile Exchange (US market). On the NYMEX, the principle of ''co-movement'' between spot and forward prices seems to be respected. However, the autocorrelation functions of the first differences in the price changes show no randomness of price fluctuations for three segments out of four. Further, both the NYMEX and the IPE fail, with regard to the

Economic reform in Europe: integrating and liberalizing the market for services

International Nuclear Information System (INIS)

Newbery, David M.

2001-01-01

The European Union faces challenges in reforming the Gas and Electricity Directives to implement the single market in electricity and gas. The paper argues that there is unfinished business in the areas of regulation, restructuring, encouraging proper risk management through contracting, and designing markets and regulation to ensure effective and sustainable competition in the services supplied over the networks. Regulators often lack critical information and appropriate power to act. Restructuring is problematic, requiring forceful competition authorities with a clear agenda to achieve desirable structural reforms. A key issue is striking the right balance between complete liberalisation and ensuring adequate capacity and investment. Finally, proactive competition policies will be necessary to resist the powerful forces for vertical and horizontal integration visible in the Union. (Author)

Modelling the role of transmission companies in the downstream European gas market

International Nuclear Information System (INIS)

Boots, M.A.; Rijkers, F.A.M.

2000-07-01

This paper describes the empirical model GASTALE and shows several analyses of the European gas market using this model. These analyses are mainly focused on the role of the downstream transmission companies. Producers of natural gas are assumed to form an oligopoly throughout the paper. Considering an oligopolistic transmission structure our model results show that the level of transmitters' profits strongly depends on the possibilities of discrimination on the border prices. If price discrimination by producers is allowed, these producers collect the main part of the margins on end-use prices. Without price discrimination the transmission companies collect most of the margins. Assuming an oligopolistic downstream structure, end-use prices converge to prices corresponding to perfect competition when the number of transmitters increases. Given the oligopolistic structure of the upstream industry, it is of importance to prevent (or abolish) monopolistic structures in the downstream gas market. In the case where oligopolistic competition between downstream gas companies cannot be prevented, vertical integration should be supported (or at least not be discouraged). 14 refs

Natural gas liquids: market outlook

International Nuclear Information System (INIS)

Heath, M.

1996-01-01

Future market outlook for natural gas liquids was discussed. It was shown that Canadian natural gas and natural gas liquid (NGL) production levels have experienced extraordinary growth over the past few years due to an increased U.S. demand for Canadian natural gas. Recent supply and demand studies have indicated that there will be growing surpluses of NGLs in Canada. By 1996, the majority of NGL surplus that is forecast to be available is ethane (64%), followed by propane (22%), butane (12%) and pentane plus (2%). Throughout the forecast period, the ratio of incremental ethane to the total NGL surplus, over and above forecast demand, was expected to continue to rise. The viability of producing and processing that ethane and transporting it to market, will be crucial. Development of a large ex-Alberta C2+ pipeline from Empress to Mont Belvieu under the reference case supply projection is a possibility, but only if total tariff and fractionation charge on the line is less than or equal to 10 US cents/USG (currently 16-22 US cents/USG). 11 figs

Examining market power in the European natural gas market

International Nuclear Information System (INIS)

Egging, R.G.; Gabriel, S.A.

2006-01-01

In this paper, we develop a mixed complementarity equilibrium model for the European natural gas market. This model has producers as Cournot players with conjectured supply functions relative to their rivals. As such, these producers can withhold production to increase downstream prices for greater profits. The other players are taken to be perfectly competitive and are combined with extensive pipeline, seasonal, and other data reflecting the current state of the market. Four market scenarios are run to analyze the extent of market power by these producers as well as the importance of pipeline and storage capacity. (author)

Examining market power in the European natural gas market

International Nuclear Information System (INIS)

Egging, Rudolf G.; Gabriel, Steven A.

2006-01-01

In this paper, we develop a mixed complementarity equilibrium model for the European natural gas market. This model has producers as Cournot players with conjectured supply functions relative to their rivals. As such, these producers can withhold production to increase downstream prices for greater profits. The other players are taken to be perfectly competitive and are combined with extensive pipeline, seasonal, and other data reflecting the current state of the market. Four market scenarios are run to analyze the extent of market power by these producers as well as the importance of pipeline and storage capacity

MEMS device for mass market gas and chemical sensors

Science.gov (United States)

Kinkade, Brian R.; Daly, James T.; Johnson, Edward A.

2000-08-01

in the house. Internet grocery delivery services could check for spoiled foods in their clients' refrigerators. City emissions regulators could monitor the various emissions sources throughout the area from their desk to predict how many pollution vouchers they will need to trade in the next week. We describe a new component architecture for mass-market sensors based on silicon microelectromechanical systems (MEMS) technology. MEMS are micrometer-scale devices that can be fabricated as discrete devices or large arrays, using the technology of integrated circuit manufacturing. These new photonic bandgap and MEMS fabricataion technologies will simplify the component technology to provide high-quality gas and chemical sensors at consumer prices.

Natural gas as a public utilities' generator for market orientation

International Nuclear Information System (INIS)

Delnoij, J.

1995-01-01

The forthcoming free market for the energy sector in Europe is discussed. The author (retiring chairman of KVGN) advocates strengthening the collective market position of energy distribution companies and of the total gas sector, e.g. by continuing the combination of gas distribution and gas purchase and by increased tuning of research and market developments. Energy distribution companies have to strengthen the relation with their customers and set explicit quality objectives. The author also supported competition between the different forms of energy on the energy market and the strive of the gas sector to substitute polluting energy carriers, and electricity generated from these low-efficient energy carriers, by gas

A report on the futures market in natural gas

International Nuclear Information System (INIS)

Davis, R.R.

1991-01-01

The New York Mercantile Exchange (NYMEX) natural gas futures contract was introduced on April 3, 1990, offering natural gas producers, marketers, and end users an important new tool to manage price risk. Each NYMEX natural gas contract unit consists of 10,000 million Btu and trades over twelve consecutive months. The NYMEX delivery location is at the Henry Hub in Erath, Louisiana. The contracts are designed to align with certain industry practices, including pipeline nomination deadlines and traditional bid-week pricing. Contract volume has grown to an average daily figure of nearly 1,400 in the first 18 months of contract trading. A peak volume of 8,739 contracts was achieved on June 24, 1991. End-users currently represent under 2% of the futures market. The ratio of open interest to volume is very low, indicating the high concentration of commercial vs investor interest in the natural gas futures market. Gas marketers are the most active users of the futures market, making up over 60% of reportable open interest. Many producers, end-users, and local distribution companies hedge indirectly through marketers. The next largest holders of open interest are producers. A few local distribution companies are also entering the futures market, and interest in this market from all segments of the industry is increasing. 3 figs

European Union gas market liberalization: a windfall effect for Russia?

International Nuclear Information System (INIS)

Riviere, Nicolas

2013-01-01

Natural gas has a growing importance in the European Union energy. However, because of the lack of resources in its territory, the EU is highly dependent on imports to meet its gas needs. In parallel, since 1998 the EU seeks the creation of a single and liberalized natural gas market. The aim of this thesis is to investigate whether the gas market liberalization can create a risk for importers' bargaining power and more widely to the gas security of supply of the EU. The first chapter provides an overview of the European gas market. It deals with the implementation of the process of gas market liberalization, the external dependency of the EU and the weakness of gas supply diversity. Using findings from the previous chapter, the second one proposes a model from the cooperative game theory to analyze the effects of the EU natural gas market liberalization on importers' bargaining power. It shows that the liberalization weakens importers' bargaining power vis-a-vis external suppliers, where Russia is the leader. It also shows that the implementation of a European gas purchasing agency offers a counter-power to the EU that balances bargaining power. The third chapter focuses on the development of LNG in the world and more specifically in the EU market. The development of LNG in Europe allows the entry of new operators on the upstream and, thus, increases competition among the EU's suppliers for the benefit of importers' bargaining power. The last chapter analyzes the impact of US shale gas development on the EU gas market. Thus, it shows that development is accompanied by an uncertainty about the future gas demand in the EU and by a reconsideration of the EU's long-term contracts. (author)

Natural gas contracts in an emerging competitive market

International Nuclear Information System (INIS)

Sutherland, R.J.

1992-01-01

Natural gas is being viewed by many as the fuel of the 1990s and beyond because of its environmental qualities, relatively low cost and significant domestic resource base. However, in the Fall of 1991, a group of electric utility executives met with then Deputy Secretary of Energy Henson Moore and asserted that an inability to obtain long term gas contracts meant that supplies are unreliable and construction of gas-fueled generating stations is being discouraged. This study was requested by the Deputy Secretary to address the issues surrounding long-term gas contracts and supply reliability. The relationship between supply reliability and contracts is explained in terms of the number of buyers and sellers in a market. With the appropriate state regulatory policies, utilities can contract for gas and obtain reliable supplies at competitive market prices. Public utility commissioners are encouraged to permit utilities a free choice in signing gas contracts, but to allow only competitive market prices to be reflected in allowable fuel costs

Natural gas contracts in an emerging competitive market

Energy Technology Data Exchange (ETDEWEB)

Sutherland, R.J.

1992-11-01

Natural gas is being viewed by many as the fuel of the 1990s and beyond because of its environmental qualities, relatively low cost and significant domestic resource base. However, in the Fall of 1991, a group of electric utility executives met with then Deputy Secretary of Energy Henson Moore and asserted that an inability to obtain long term gas contracts meant that supplies are unreliable and construction of gas-fueled generating stations is being discouraged. This study was requested by the Deputy Secretary to address the issues surrounding long-term gas contracts and supply reliability. The relationship between supply reliability and contracts is explained in terms of the number of buyers and sellers in a market. With the appropriate state regulatory policies, utilities can contract for gas and obtain reliable supplies at competitive market prices. Public utility commissioners are encouraged to permit utilities a free choice in signing gas contracts, but to allow only competitive market prices to be reflected in allowable fuel costs.

Natural gas contracts in an emerging competitive market

Energy Technology Data Exchange (ETDEWEB)

Sutherland, R.J.

1992-01-01

Natural gas is being viewed by many as the fuel of the 1990s and beyond because of its environmental qualities, relatively low cost and significant domestic resource base. However, in the Fall of 1991, a group of electric utility executives met with then Deputy Secretary of Energy Henson Moore and asserted that an inability to obtain long term gas contracts meant that supplies are unreliable and construction of gas-fueled generating stations is being discouraged. This study was requested by the Deputy Secretary to address the issues surrounding long-term gas contracts and supply reliability. The relationship between supply reliability and contracts is explained in terms of the number of buyers and sellers in a market. With the appropriate state regulatory policies, utilities can contract for gas and obtain reliable supplies at competitive market prices. Public utility commissioners are encouraged to permit utilities a free choice in signing gas contracts, but to allow only competitive market prices to be reflected in allowable fuel costs.

Natural gas transits and market power. The case of Turkey

Energy Technology Data Exchange (ETDEWEB)

Weiser, Florian; Schulte, Simon

2017-08-15

Turkey is a key country in order to realize the Southern Gas Corridor (SGC) due to its geographical location. However, as the main transit country within the SGC, Turkey could potentially exert market power with gas transits. Whether Turkey exerts market power or not, is crucial for an economic assessment of the SGC. Hence, the article investigates this issue quantitatively using a global partial equilibrium gas market model. An oligopolistic and a competitive supply structure in Europe in 2030 are considered in the model. If the European gas market in 2030 is characterized by an oligopolistic supply, Turkey is able to exert market power resulting in higher prices compared to competitive transits, in particular in South Eastern Europe. In a competitive market structure, however, the importance of the SGC and thus the potential of Turkish transit market power is limited.

Natural gas transits and market power. The case of Turkey

International Nuclear Information System (INIS)

Weiser, Florian; Schulte, Simon

2017-01-01

Turkey is a key country in order to realize the Southern Gas Corridor (SGC) due to its geographical location. However, as the main transit country within the SGC, Turkey could potentially exert market power with gas transits. Whether Turkey exerts market power or not, is crucial for an economic assessment of the SGC. Hence, the article investigates this issue quantitatively using a global partial equilibrium gas market model. An oligopolistic and a competitive supply structure in Europe in 2030 are considered in the model. If the European gas market in 2030 is characterized by an oligopolistic supply, Turkey is able to exert market power resulting in higher prices compared to competitive transits, in particular in South Eastern Europe. In a competitive market structure, however, the importance of the SGC and thus the potential of Turkish transit market power is limited.

AlintaGas perspective on evolving competition in the Western Australian energy market

International Nuclear Information System (INIS)

Harvey, Ph.

1999-01-01

The author discusses the evolving competition in the Western Australian energy market, with a clear focus on gas. Before considering the future energy market, he puts today's market in perspective and set the framework within which the development of the future markets should be considered. What is a competitive market? It is a market where there are enough producers and enough users for competition between them to determine prices, which are set prices, not costs. An example of a competitive gas market in Western Australia is the Pilbara. There are enough producers and enough users in the Pilbara area that gas prices are set by the normal forces of supply and demand and transport costs are essentially negligible. There is no need for regulation or any external price setting - the forces of supply and demand determine prices. In the south west gas market there are the same gas suppliers, but a different and larger group of customers. This market differs from the Pilbara market because now there are transport costs involved. The transport element is a natural monopoly - and it is important to ensure transport prices do not distort the competitive market established between producers and users. Hence, third party access to the Dampier to Bunbury Natural Gas Pipeline (DBNGP), under properly regulated access arrangements to ensure there is no market distortion, allows the forces of competition to set prices in the south west gas market. Western Australia is fortunate - and unique among the Australian states - in that it has a number of gas producers keen to sell into Western Australian gas markets. Hence, gas on gas competition - as well as inter-fuel competition - is setting prices. For historic reasons - and they are good reasons - energy markets in Western Australia are not yet completely open. There is however a program of market deregulation that commenced on I January 1995 and will be completed on July 2002, which means that all gas customers, even residential

The French wholesale electricity and natural gas markets. 2008 report

International Nuclear Information System (INIS)

2009-12-01

This second report on the operation of French wholesale electricity and natural gas markets deals with CRE wholesale market surveillance activities. It follows on from the different work undertaken or announced in the first surveillance report and in the proceedings of the CRE deliberation held on the 8 January 2009. It capitalizes on the experience gained in this area since the Law of the 7 December 2006 gave the CRE market surveillance powers. It is also based on feedback from discussions and interaction with the different stakeholders, through the public consultations held by CRE in 2008 and 2009. market surveillance applies to: - electricity and gas, - bilateral transactions, trading on exchanges and cross-border transactions, - all maturities, from short-term markets to long-term contracts, - all French wholesale market counter-parties, whatever nationality they may have, - contracts for physical delivery, as well as to financial products. The Law also allows extensive surveillance of market participants' behaviour, in that the CRE can oversee not only transactions between operators but also their bids and the correspondence between the prices charged and the position of each operator. In order to address these different subjects, the electricity and gas sections of this report are divided into four main chapters dealing with the development of trading, wholesale market price trends, the fundamentals (generation, infrastructures) and, finally, the analysis of electricity transactions and the supply of alternative gas operators. Contents: A - Methodology notice, Introduction, Summary of the report; B - Section 1 - Wholesale electricity markets: The development of the main wholesale market segments, Monitoring of price formation in France in terms of fundamentals and in comparison with the main interconnected European markets, Analysis and transparency of generation, The analysis of transactions; C - Section 2 - Wholesale natural gas markets: The

Security of supply and retail competition in the European gas market

Energy Technology Data Exchange (ETDEWEB)

Abada, Ibrahim, E-mail: ibrahim.abada@polytechnique.edu [IFP Energies nouvelles, 1 et 4 avenue de Bois Preau, 92852 Rueil-Malmaison (France); EDF Research and Development, 1 avenue du General de Gaulle, 92140 Clamart (France); EconomiX-CNRS, University of Paris Ouest (France); Massol, Olivier, E-mail: olivier.massol@ifpen.fr [Center for Economics and Management, IFP School, 228-232 av. Napoleon Bonaparte, 92852 Rueil-Malmaison (France); Department of Economics, City University London, Northampton Square, London EC1V 0HB (United Kingdom)

2011-07-15

In this paper, we analyze the impact of uncertain disruptions in gas supply upon gas retailer contracting behavior and consequent price and welfare implications in a gas market characterized by long-term gas contracts using a static Cournot model. In order to most realistically describe the economical situation, our representation divides the market into two stages: the upstream market that links, by means of long-term contracts, producers in exporting countries (Russia, Algeria, etc.) to local retailers who bring gas to the consuming countries to satisfy local demands in the downstream market. Disruption costs are modeled using short-run demand functions. First we mathematically develop a general model and write the associated KKT conditions, then we propose some case studies, under iso-elasticity assumptions, for the long-short-run inverse-demand curves in order to predict qualitatively and quantitatively the impacts of supply disruptions on Western European gas trade. In the second part, we study in detail the German gas market of the 1980s to explain the supply choices of the German retailer, and we derive interesting conclusions and insights concerning the amounts and prices of natural gas brought to the market. The last part of the paper is dedicated to a study of the Bulgarian gas market, which is greatly dependent on the Russian gas supplies and hence very sensitive to interruption risks. Some interesting conclusions are derived concerning the necessity to economically regulate the market, by means of gas amounts control, if the disruption probability is high enough. - Highlights: > We model retail competition using a Nash-Cournot framework. > Risk-neutral retailers decide their import policy among a set of risky producers. > Case 1: the German gas trade of the 1980s to understand the gas sources' choices. > Case 2: the current Bulgarian gas trade to study the market properties. > Conclusions about the market regulation for welfare optimization reasons.

Security of supply and retail competition in the European gas market

International Nuclear Information System (INIS)

Abada, Ibrahim; Massol, Olivier

2011-01-01

In this paper, we analyze the impact of uncertain disruptions in gas supply upon gas retailer contracting behavior and consequent price and welfare implications in a gas market characterized by long-term gas contracts using a static Cournot model. In order to most realistically describe the economical situation, our representation divides the market into two stages: the upstream market that links, by means of long-term contracts, producers in exporting countries (Russia, Algeria, etc.) to local retailers who bring gas to the consuming countries to satisfy local demands in the downstream market. Disruption costs are modeled using short-run demand functions. First we mathematically develop a general model and write the associated KKT conditions, then we propose some case studies, under iso-elasticity assumptions, for the long-short-run inverse-demand curves in order to predict qualitatively and quantitatively the impacts of supply disruptions on Western European gas trade. In the second part, we study in detail the German gas market of the 1980s to explain the supply choices of the German retailer, and we derive interesting conclusions and insights concerning the amounts and prices of natural gas brought to the market. The last part of the paper is dedicated to a study of the Bulgarian gas market, which is greatly dependent on the Russian gas supplies and hence very sensitive to interruption risks. Some interesting conclusions are derived concerning the necessity to economically regulate the market, by means of gas amounts control, if the disruption probability is high enough. - Highlights: → We model retail competition using a Nash-Cournot framework. → Risk-neutral retailers decide their import policy among a set of risky producers. → Case 1: the German gas trade of the 1980s to understand the gas sources' choices. → Case 2: the current Bulgarian gas trade to study the market properties. → Conclusions about the market regulation for welfare optimization

Natural gas in the Asian Pacific region: market behavior and the Japanese electricity market

International Nuclear Information System (INIS)

Jonsson, Bo

2001-04-01

This dissertation consists of four main chapters, all related to the Asian Pacific natural gas market, and the role of the Japanese electricity sector. The natural gas market in Asia Pacific is heavily dependent on the demand from Japan, which imports around 75% of the gas traded as LNG (liquefied natural gas) in the region. The demand for natural gas in Japan is, in turn, almost exclusively driven by the electricity industry that consumes around 70 % of the imported natural gas. On the supply side we find seller concentrations with only six countries exporting LNG in the region. The first main chapter analyzes the market structure of the Asian Pacific natural gas market, the next two relate to the usage of natural gas in the Japanese fossil-fueled electricity production, and the final study investigates the demand for electricity in the residential sector in Japan. The first chapter argues that the buyers in Japan, through cooperation, have the potential to exert the market power that their large market share provides them with. This could be offset by the monopoly power that the six present sellers have. In the chapter four, the solutions for the four imperfect competition cases of, monoposony, monopoly, bilateral monopoly, and the Cournot model are simulated. Neither of the model solutions comes close to both the actual market price, and the actual gas volumes. The model that best mimics the actual price is the bilateral monopoly model, while the monoposony model comes closest to the actual volumes. Giving some mixed evidence of how the Asian LNG market works. Given the indication of market power, the second study analyzes the fossil-fuel mix efficiency in the power sector in Japan. If the power sector is able to exert the alleged market power, it may be the case that they minimize costs according to shadow prices instead of actual market prices. Such behavior could cause the fossil-fuel mix used for power generation to be inefficient. The analysis is based on a

Integrated marketing communications in sport organizations

OpenAIRE

Gašović Milan

2011-01-01

Integrated marketing communications represent the unification of organization's marketing and communication activities. Sports organizations have the emphasized need for effective communication with their environment (the public, the media, advertisers, sponsors, and other subjects interested in their offer). Elements of the integrated marketing communications are: advertising, personal selling, sales promotion, publicity, public relations, direct marketing, Internet communications etc. Each ...

European gas markets and Russian LNG. Prospects for the development of European gas markets and model simulations of possible new LNG supplies from year 2000

Energy Technology Data Exchange (ETDEWEB)

Eldegard, Tom [Foundation for Research in Economics and Business Administration, Bergen (Norway)

1996-07-01

The study aims at clarifying the framework for possible LNG exports from Northern Russia and focuses on the European natural gas markets. The first stage provides general background information on the market structure and related topics. In the second stage this information is used to develop a formal market model and subject it to simulations with various assumptions of the future gas supply. The model is described and results from simulations are given. In the first stage facts from the history of the European natural gas market are outlined. Underlying conditions for the development of natural gas markets in Europe are addressed. The EU has been promoting trade liberalisation in the energy sector but most counties resist freer gas trade across the boarders. New infrastructure development for natural gas are either underway or planned. Some important projects are mentioned. Gas in a global perspective is discussed. The cost structure of the LNG chain is mentioned and an overview of existing LNG export capacities world-wide and major reception terminals in Europe and the USA is given. The second stage employs a scenario analysis to evaluate the economic effects of hypothetical LNG deliveries from Northern Russia. The model is developed for the analysis of West European natural gas markets and designed to allow users to create a structural system of interconnected producers and market regions. Basic assumptions for the evolution of natural gas markets till 2005 is developed and base case scenarios calculated for the years 2000 and 2005 and used as a point of reference for the alternative scenarios considered. According to the analysis the introduction of a new LNG supplier in the European gas market will inflict a substantial loss upon all the existing producers. The primary keys to this result are the assumptions made for gas demand and supply capacity. The LNG alternative will hardly be approved for purely economic reasons as long as the Russians maintain

European gas markets and Russian LNG. Prospects for the development of European gas markets and model simulations of possible new LNG supplies from year 2000

International Nuclear Information System (INIS)

Eldegard, Tom

1996-01-01

The study aims at clarifying the framework for possible LNG exports from Northern Russia and focuses on the European natural gas markets. The first stage provides general background information on the market structure and related topics. In the second stage this information is used to develop a formal market model and subject it to simulations with various assumptions of the future gas supply. The model is described and results from simulations are given. In the first stage facts from the history of the European natural gas market are outlined. Underlying conditions for the development of natural gas markets in Europe are addressed. The EU has been promoting trade liberalisation in the energy sector but most counties resist freer gas trade across the boarders. New infrastructure development for natural gas are either underway or planned. Some important projects are mentioned. Gas in a global perspective is discussed. The cost structure of the LNG chain is mentioned and an overview of existing LNG export capacities world-wide and major reception terminals in Europe and the USA is given. The second stage employs a scenario analysis to evaluate the economic effects of hypothetical LNG deliveries from Northern Russia. The model is developed for the analysis of West European natural gas markets and designed to allow users to create a structural system of interconnected producers and market regions. Basic assumptions for the evolution of natural gas markets till 2005 is developed and base case scenarios calculated for the years 2000 and 2005 and used as a point of reference for the alternative scenarios considered. According to the analysis the introduction of a new LNG supplier in the European gas market will inflict a substantial loss upon all the existing producers. The primary keys to this result are the assumptions made for gas demand and supply capacity. The LNG alternative will hardly be approved for purely economic reasons as long as the Russians maintain

Gas pricing in Europe. Pt. 1. Wholesale markets

International Nuclear Information System (INIS)

Donath, R.

1996-01-01

The article investigates gas pricing in the European procurement market and the wholesale markets of the most important EU consumer markets. It demonstrates that value-oriented pricing principles override cost-oriented pricing principles. For one thing, and independently of pricing principles, two- or three-part demand price systems or basic price systems are common. For another, the frequently encountered opportunities for the differentiation of prices show that as long as there is merely substitution competition instead of direct competition, gas suppliers have a certain degree of freedom in fixing their prices. By contrast, the introduction of direct competition in Great Britain has reduced suppliers' individual price fixing margins, because short-term supply and demand variations in the now created spot market are decisive for gas pricing. (orig.) [de

Pricing Natural Gas. The Outlook for the European Market (Summary)

International Nuclear Information System (INIS)

2008-01-01

Long-term gas supply contracts contain price formulae, in which the gas price is usually linked to the price of another commodity, or to the spot price of gas in a particular market. In continental Europe the gas price in international long-term supply contracts is predominantly linked to oil products. At the same time, spot markets for gas in which gas prices are determined by supply and demand are developing in various EU markets. This paper addresses the question of to what extent the traditional form of oil-based price indexation is sustainable and/or will be sustained by the market players. It discusses the considerations the market players may have in favour of one or the other form of indexation, the external forces that may influence the choice of indexation in the short and longer terms and the consequences of change. It argues that pricing systems are a fundamental part of a market organisation, and that a shift to different pricing structures only happens if and when the main actors are convinced that they understand and accept the consequences of such change. It concludes that there is no strong evidence that the current hybrid situation, in which both forms of gas pricing co-exist, cannot continue. There are also no overriding reasons to intervene in the market practices of price formation. Both systems have their advantages and disadvantages under different market conditions, and to some extent complement each other in the current markets. Different types of risk and the appreciation thereof by the trading parties will determine particular choices of pricing rules and contracting conditions. More importantly, in today's market, in which new supplies are slow to come forward, the choice should be left to the market parties, particularly as sellers and buyers do not seem to be in strong disagreement

Electricity and gas market observatory. 3. quarter 2006

International Nuclear Information System (INIS)

2006-01-01

Since July 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: practical information for eligible customers: consumer guide, list of suppliers, communications regarding markets running, CRE annual activity report. (author)

Electricity and gas market observatory. 1. quarter 2006

International Nuclear Information System (INIS)

2006-01-01

Since July 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: practical information for eligible customers: consumer guide, list of suppliers, communications regarding markets running, CRE annual activity report. (author)

Electricity and gas market observatory. 1. 2005 quarter

International Nuclear Information System (INIS)

2005-01-01

Since July 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: practical information for eligible customers: consumer guide, list of suppliers, communications regarding markets running, CRE annual activity report. (author)

Electricity and gas market observatory. 2. quarter 2006

International Nuclear Information System (INIS)

2006-01-01

Since July 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: practical information for eligible customers: consumer guide, list of suppliers, communications regarding markets running, CRE annual activity report. (author)

Electricity and gas market observatory. 4. 2005 quarter

International Nuclear Information System (INIS)

2005-01-01

Since July 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: practical information for eligible customers: consumer guide, list of suppliers, communications regarding markets running, CRE annual activity report. (author)

Electricity and gas market observatory. 2. 2005 quarter

International Nuclear Information System (INIS)

2005-01-01

Since July 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: practical information for eligible customers: consumer guide, list of suppliers, communications regarding markets running, CRE annual activity report. (author)

Electricity and gas market observatory. 3. 2005 quarter

International Nuclear Information System (INIS)

2005-01-01

Since July 2004, all electricity and gas consumers can be eligible according to their consumption site, as long as all or part of the electricity or gas consumed is designed for non-residential use. The purpose of the observatory is to provide the general public with indicators for monitoring market deregulation. It both covers the wholesale and retail electricity and gas markets in Metropolitan France. This observatory is updated every three months and data are available on CRE web site (www.cre.fr). It completes the information already published by CRE: practical information for eligible customers: consumer guide, list of suppliers, communications regarding markets running, CRE annual activity report. (author)

Gas market. Fuelling the future

International Nuclear Information System (INIS)

Thomas, M.

1996-01-01

The article relates to the natural gas market in Europe. The continued surge in European gas demand into the next century raises serious questions over the future security of supplies into the region. Around 72% of the total gas volumes consumed are imported from countries outside the region, the most important of which are Russia and Algeria. Natural gas has played a key role in reducing dependence on oil and will increasingly become the fuel of choice for environmental reasons, especially for power generation. Themes like liberalization plans, total production increase, and innovative delivery alternatives are discussed. 1 fig

Time Varying Market Integration and Expected Rteurns in Emerging Markets

NARCIS (Netherlands)

de Jong, F.C.J.M.; de Roon, F.A.

2001-01-01

We use a simple model in which the expected returns in emerging markets depend on their systematic risk as measured by their beta relative to the world portfolio as well as on the level of integration in that market.The level of integration is a time-varying variable that depends on the market value

Trend of the gas market and relaxation of regulation in major countries. Activities in Europe and America and problems of the gas industry in Japan; Shuyokoku no gas shijo to kisei kanwa no doko. Obei no ugoki to Nippon gas jigyo no kadai

Energy Technology Data Exchange (ETDEWEB)

Saita, A; Okaya, Y [Institute of Energy Economics, Tokyo (Japan)

1994-11-24

Recently, relaxation of regulation has been promoted in the gas markets of Europe and America. In Japan as well, an amendment to gas industry law including relaxation of regulation has been conducted, and it is to be effectuated from March 1995. In this report, position of gas in the energy market, consolidation status of infrastructure, market structure, and trend of regulation relaxation and competition promotion plan are compared in major countries. The future direction of the gas industry in Japan is discussed. Although there is vertical integration composed of producer, carrier and distributor in the traditional gas industry organization of major countries, Japan`s gas industry organization composes only of distributors. For the regulation relaxation in the U.K. and U.S.A., a third party access (TPA) system has been introduced, in which transportation net is opened to the third party. In Germany and France as well, regulation relaxation and liberation are discussed. For the regulation relaxation of gas market in Japan, it is pointed out that the poor consolidation of infrastructure, such as transportation net should be taken into account. 48 figs., 6 tabs.

Market liberalization in the European Natural Gas Market. The importance of capacity constraints and efficiency differences

Energy Technology Data Exchange (ETDEWEB)

Brakman, S. [University of Groningen, Faculty of Economics, Department of International Economics and Business, P.O. Box 800, 9700 AV Groningen (Netherlands); Van Marrewijk, C.; Van Witteloostuijn, A. [Utrecht University, Utrecht School of Economics, Janskerkhof 12, 3512 BL Utrecht (Netherlands)

2009-06-15

In the European Union, energy markets are increasingly being liberalized. A case in point is the European natural gas industry. The general expectation is that more competition will lead to lower prices and higher volumes, and hence higher welfare. This paper indicates that this might not happen for at least two reasons. First, energy markets, including the market for natural gas, are characterized by imperfect competition and increasing costs to develop new energy sources. As a result, new entrants in the market are less efficient than incumbent firms. Second, energy markets, again including the market for natural gas, are associated with capacity constraints. Prices are determined in residual markets where the least efficient firms are active. This is likely to lead to price increases, rather than decreases.

US natural gas markets: how efficient are they?

International Nuclear Information System (INIS)

Herbert, J.H.; Kreil, Erik

1996-01-01

In this communication we discuss some key features of the natural gas cash and futures markets for natural gas in the USA. We also summarize some important and interesting problems in these markets. For example, the market does not appear to be informationally efficient throughout the USA. This lack of efficiency has been addressed by the establishment of a second futures contract market. There is also a very active unregulated derivatives market in which options and swaps are bought and sold. Although the market has changed significantly to better respond to changes in market conditions there are still problems in the way that pipeline space is allocated by pipeline companies, who still own the pipe, to those companies that have rights to this space. There are also problems in that prices for gas and transport are not transparent to many buyers and sellers. Moreover, there are also important idiosyncracies and industry practices that impede progress. None the less, the different parts of the industry with different interests and expertise and the regulatory authority continue to work at crafting rules to improve business behaviour and performance. (Author)

Evolving natural gas markets: LNG possibilities for a hydrothermal power system

Energy Technology Data Exchange (ETDEWEB)

Correia, Tiago B.; Resende, Joao P.; Costa, Agnes M. [Brazilian Ministry of Mines and Energy, Brasilia, DF (Brazil)

2008-07-01

The latest advancements in the natural gas - NG industry have brought new opportunities for the resource's application, especially in the power industry. On the one hand, rapid growth in demand and falling costs of transportation over long distances, particularly as liquefied natural gas - LNG, should lead to a more integrated NG world market. On the other, the deregulation of electricity markets and the growth of independent power producers - IPPs using NG as a fuel for generating peak load power have increased the demand for more flexible NG supply contracts. These factors have allowed a shift in the timing of investment and contract negotiation in NG market. Traditionally, firms searched for trading partners and signed long-term contracts before investing in infrastructure. In the evolving LNG market, producers invest in infrastructure before they have buyers for all their expected outputs, while buyers undertake investment before having firm contracts for all their expected NG needs. These technological and market changes may foster greater participation of a fully flexible NG power plants in the Brazilian electricity market. Nowadays, thermal power long-term capacity contracts customized and negotiated in the local electricity pool (ACR) require power producer to award guarantees of NG firm supply, substantially increasing their cost. A combination of flexible LNG supply contracts and electricity pool contracts may present a solution to the lack of competitiveness of NG power plants in the Brazilian power industry. (author)

INTEGRATED MARKETING COMMUNICATION IN POLITICS?

Directory of Open Access Journals (Sweden)

Ovidiu-Aurel GHIUŢĂ

2009-06-01

Full Text Available The current study has practical applicability in politic al domain and theoretical involvement at politicalmarketing communication level. The type of the research is a qualitative one, using as survey methods scientificobservation and documentary search. The aim of the research is to prove the applicability of marketing communicationconcept integrated in political marketing and global marketing communication. There are also exceptions, justanalyzing the industry – politics, in which integrated communication can’t be considered global communication.The subject of integrated marketing communication is relatively a new one in marketing (two decades, but itsapplicability in political domain and the specifications that assumes this application represents o new vision atEuropean and worldwide level. This study clearly presents the differences between the integrated marketingcommunication and global marketing communication.In documentary research, the author used studies belonging to Anglo – Saxons theoreticians and practitioners(Americans, Canadians, British but also Europeans (French, Belgians, Romanians. The main reason is the fact that inmarketing domain on extremely narrow scientific sections the visions belonging to these two main orientations aren’talways equable. Also, in scientific observation, t he research analyses political events from United States of America,France and Romania. Due to this reason, we can affirm that the current study has not only a regional applicability butalso a global one.

Time-Varying Market Integration and Expected Returns in Emerging Markets

OpenAIRE

de Jong, Frank; de Roon, Frans

2001-01-01

We use a simple model in which the expected returns in emerging markets depend on their systematic risk as measured by their beta relative to the world portfolio as well as on the level of integration in that market. The level of integration is a time-varying variable that depends on the market value of the assets that can be held by domestic investors only versus the market value of the assets that can be traded freely. Our empirical analysis for 30 emerging markets shows that there are stro...

Time Varying Market Integration and Expected Rteurns in Emerging Markets

OpenAIRE

Jong, F.C.J.M. de; Roon, F.A. de

2001-01-01

We use a simple model in which the expected returns in emerging markets depend on their systematic risk as measured by their beta relative to the world portfolio as well as on the level of integration in that market.The level of integration is a time-varying variable that depends on the market value of the assets that can be held by domestic investors only versus the market value of the assets that can be traded freely.Our empirical analysis for 30 emerging markets shows that there are strong...

Natural gas market review 2007. Security in a globalising market to 2015

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-05-03

Natural gas heats our homes, powers our factories, and increasingly generates electricity, safely and cleanly. Over recent decades, it has been an important element of secure, affordable, and environmentally responsible energy supply. But as production from IEA member countries declines, supplies will have to come from sources in more distant regions. What aspects of OECD gas markets need to be improved to deliver greater security and efficiency? What are the risks of increasing reliance on imports from Russia and the Middle East? Are strategic stocks of natural gas - similar to emergency oil stocks - a viable safety net to a supply disruption? Will there be enough investment in pipeline gas or will more need to be spent on LNG? What are the impacts of gas security on oil markets and power generation security? What do changes in the LNG industry mean for traditional contract terms? This publication, the second issue in a new IEA publications series, addresses key questions in this dynamic market. It offers a global appraisal of current trends in the light of the most recent historical data, including supply and demand projections to 2015.

The World gas model. A multi-period mixed complementarity model for the global natural gas market

International Nuclear Information System (INIS)

Egging, Ruud; Holz, Franziska; Gabriel, Steven A.

2010-01-01

We provide the description, mathematical formulation and illustrative results of the World Gas Model, a multi-period complementarity model for the global natural gas market with explicit consideration of market power in the upstream market. Market players include producers, traders, pipeline and storage operators, LNG (liquefied natural gas) liquefiers and regasifiers as well as marketers. The model data set contains more than 80 countries and regions and covers 98% of world wide natural gas production and consumption. We also include a detailed representation of cross-border natural gas pipelines and constraints imposed by long-term contracts in the LNG market. The model is calibrated to match production and consumption projections from the PRIMES [EC. European energy and transport: trends to 2030-update 2007. Brussels: European Commission; 2008] and POLES models [EC. World energy technology outlook - 2050 (WETO-H2). Brussels: European Commission; 2006] up to 2030. The results of our numerical simulations illustrate how the supply shares of pipeline and LNG in various regions in the world develop very differently over time. LNG will continue to play a major role in the Asian market, also for new importers like China and India. Europe will expand its pipeline import capacities benefiting from its relative proximity to major gas suppliers. (author)

Integrated Marketing Communications

Science.gov (United States)

Black, Jim

2004-01-01

Integration has become a cliche in enrollment management and student services circles. The term is used to describe everything from integrated marketing to seamless services. Often, it defines organizational structures, processes, student information systems, and even communities. In Robert Sevier's article in this issue of "College and…

Marketing advisors and their role for junior gas producers

Energy Technology Data Exchange (ETDEWEB)

Maffitt, D.W. [Phoenix Gas Marketing Consultants Inc., Calgary, AB (Canada)

1997-05-01

The role of marketing advisors in the new deregulated natural gas industry was discussed. These producer-oriented marketing consultants are specialists in providing affordable marketing services to junior gas producers on an `as-needed` basis. The most important service provided by marketing advisors is helping the client identify management problems, analyze such problems and recommend solutions. Accordingly, the marketing advisor should be independent and objective, with no conflict of interests. He/she should be prepared to invest a lot of time and effort in providing the junior producer with a customized diagnosis of its marketing problems. 5 refs., 3 figs.

Marketing advisors and their role for junior gas producers

International Nuclear Information System (INIS)

Maffitt, D.W.

1997-01-01

The role of marketing advisors in the new deregulated natural gas industry was discussed. These producer-oriented marketing consultants are specialists in providing affordable marketing services to junior gas producers on an 'as-needed' basis. The most important service provided by marketing advisors is helping the client identify management problems, analyze such problems and recommend solutions. Accordingly, the marketing advisor should be independent and objective, with no conflict of interests. He/she should be prepared to invest a lot of time and effort in providing the junior producer with a customized diagnosis of its marketing problems. 5 refs., 3 figs

The European Gas Market Looking for its Golden Age?

International Nuclear Information System (INIS)

Aoun, Marie-Claire; Cornot-Gandolphe, Sylvie

2015-10-01

The EU gas policy has to deal with a new landscape on the supply and demand sides. This study examines five major recent evolutions of the EU gas market: the relations with Russia, LNG coming back to Europe, the decrease of Groningen production, the contrasted evolutions of shale gas and the perspectives of EU natural gas demand. The European energy market has to face numerous challenges to achieve a successful energy transition, preserve its competitiveness and ensure its security of supply. While the EU Communication on Energy Union published in February 2015 has today given new impetus to Europe's gas policy, this policy has to deal with a new environment both in terms of supply and demand. On the supply side, the new strategy must henceforth deal with complex relations with Russia. Tensions between Russia and Ukraine along with economic sanctions against Russia have led Gazprom - the EU's leading supplier - to review its strategy towards Europe. While the 'Power of Siberia' project is already underway, Russia's own pivot towards Asia as announced by Vladimir Putin is turning out to be more difficult than expected: China and Russia have still not been able to find an agreement on the Western route. For some time, Gazprom seemed to want to cut its involvement in European gas assets significantly, due to problems with market liberalization rules. Today, Moscow is sending mixed messages to Europe, first by announcing the Turkish Stream project to deliver gas to Europe's gates, and then by extending the Nord Stream pipeline. The renewed interest in the EU market by Gazprom is indicative of the importance of this market, which provides the Russian company with the bulk of its gas revenues. Europe also has to deal with faster than expected declines in its own output. The Groningen field in the Netherlands, the EU's main gas producer, has suffered major restrictions since January 2014, due to significant earthquake risks. The Dutch government has to ensure the safety

The French wholesale electricity and natural gas markets. 2009-2010 Report

International Nuclear Information System (INIS)

2010-10-01

This report on the operation of French wholesale electricity and natural gas markets deals with CRE wholesale market surveillance activities. It capitalizes on the experience gained in this area since the Law of the 7 December 2006 gave the CRE market surveillance powers. It is also based on feedback from discussions and interaction with the different stakeholders through public consultations. Market surveillance applies to: - electricity and gas, - bilateral transactions, trading on exchanges and cross-border transactions, - all maturities, from short-term markets to long-term contracts, - all French wholesale market counter-parties, whatever nationality they may have, - contracts for physical delivery, as well as to financial products. The Law also allows extensive surveillance of market participants' behaviour, in that the CRE can oversee not only transactions between operators but also their bids and the correspondence between the prices charged and the position of each operator. In order to address these different subjects, the electricity and gas sections of this report are divided into four main chapters dealing with the development of trading, wholesale market price trends, the fundamentals (generation, infrastructures) and, finally, the analysis of electricity transactions and the supply of alternative gas operators. Contents: A - Introduction, Summary of the report; B - Section 1 - The wholesale electricity markets: The development of the main segments of the wholesale market, Electricity prices, Analysis of generation and its transparency, Analysis of transactions; C - Section 2 - The wholesale gas markets: The development of gas trading, Gas prices, The gas infrastructures, The supply of players/new entrants; D - Section 3 - Appendices: Glossary, Index to graphs, Index to tables, Index to boxes

Integrated marketing communications in sport organizations

Directory of Open Access Journals (Sweden)

Gašović Milan

2011-01-01

Full Text Available Integrated marketing communications represent the unification of organization's marketing and communication activities. Sports organizations have the emphasized need for effective communication with their environment (the public, the media, advertisers, sponsors, and other subjects interested in their offer. Elements of the integrated marketing communications are: advertising, personal selling, sales promotion, publicity, public relations, direct marketing, Internet communications etc. Each of these elements has some specifics which marketing specialists in sports organizations need to understand.

Market screening of natural gas reformers

International Nuclear Information System (INIS)

Themsen, J.; Pagh Nielsen, M.; Knudsen Kaer, S.

2005-01-01

This report presents results from the project: Market screening of natural gas reformers. The project objective was to screen the natural gas reformers available on the international market. The technology is developing rapidly, and the results from this project will assist in determining the focus for the future Danish activities and in setting up ambitious and realistic targets. The reformer screening is partly based on AAU and Dantherm's experiences from previous studies, and the screening has been further extended with a number of activities, including seminars and contact with some of the most interesting suppliers. (BA)

Middle East natural gas - getting it to markets

International Nuclear Information System (INIS)

Skinner, R.

1996-01-01

Middle East gas reserves, production, and consumption were presented graphically, along with the demand for 'piped' or liquefied natural gas in the Middle East itself, in Asia and in Europe. The European gas market outlook was examined, taking into account economic growth, EEC restructuring, crude oil prices and their effects on net-backs, deregulation and competitive grid-based energy, upstream and midstream investments under conditions of price uncertainty, and environmental and social influences. Middle East pipeline proposals (17 projects) for a total of 34,943 kilometres of pipeline, were reviewed. The general conclusion was that (1) the Middle East has lots of gas, (2) both Asia and Europe will be substantial markets for Middle East LNG despite the 'tyranny of distance', and (3) pipelines to these markets will be built in the longer-term. tabs., figs

Countdown to open competition in the UK gas market

International Nuclear Information System (INIS)

Jackson, K.

1996-01-01

As the deregulation of the United Kingdom's domestic gas market approaches, marketing campaigns aimed at the domestic gas customers in the pilot areas of Cornwall, Devon and Somerset, some 60,000 gas users, are being bombarded with sales information from various media sources. The changes expected following the introduction of new suppliers are set out, together with likely effects on prices and regulatory frameworks. New gas producers will still have to use TransCo, British Gas' transport arm, to pipe their product to customers. (UK)

Proceedings of the 11. annual North American natural gas and electricity market conference and trade show : GasFair power 2002. CD-Rom ed.

International Nuclear Information System (INIS)

2002-01-01

The electricity market is undergoing changes, from deregulation to competition and convergence. This conference provided an opportunity for North American natural gas and electricity industries representatives and stake holders to share their views concerning the many challenges, issues and opportunities in this field. Emerging market developments, issues and strategies are some of the topics discussed during this conference and trade show. The organizers placed emphasis on energy purchasers and managers, and the opportunities facing them for the improvement of their company's financial health by means of savings on natural gas costs and electricity purchases. In addition, there are several opportunities for improved energy efficiency and technologies and integrated energy and risk management programs which were all discussed. The economic challenges and opportunities arising from the supply, demand, marketing and pricing for gas and power products and services facing energy marketers, traders, producers, utilities and transporters were addressed. A detailed and practical examination of ways by which energy consumers can address issues of volatile gas and power prices was provided. Effective, cost saving purchasing options and risk management strategies and tools, contracting, outsourcing, aggregating and cost-effective energy management programs were also explored. In all, approximately 900 delegates attended the conference and trade show from all across Canada and the United States. refs., tabs., figs

Testing market integration for Kenyan pineapples. | Onyuma ...

African Journals Online (AJOL)

The market structure was found to be oligopsonistic in nature with aspects of collusion amongst the urban middlemen and local market traders thus barring further entry by other potential actors. There was little market integration between urban markets and producing markets, and very low or no integration between the ...

North American Natural Gas Markets

International Nuclear Information System (INIS)

1989-02-01

This report summarizes die research by an Energy Modeling Forum working group on the evolution of the North American natural gas markets between now and 2010. The group's findings are based partly on the results of a set of economic models of the natural gas industry that were run for four scenarios representing significantly different conditions: two oil price scenarios (upper and lower), a smaller total US resource base (low US resource case), and increased potential gas demand for electric generation (high US demand case). Several issues, such as the direction of regulatory policy and the size of the gas resource base, were analyzed separately without the use of models

North American Natural Gas Markets

International Nuclear Information System (INIS)

1988-12-01

This report sunnnarizes the research by an Energy Modeling Forum working group on the evolution of the North American natural gas markets between now and 2010. The group's findings are based partly on the results of a set of economic models of the natural gas industry that were run for four scenarios representing significantly different conditions: two oil price scenarios (upper and lower), a smaller total US resource base (low US resource case), and increased potential gas demand for electric generation (high US demand case). Several issues, such as the direction of regulatory policy and the size of the gas resource base, were analyzed separately without the use of models

Gas Markets in Asia. Current situation, prospects and challenges

International Nuclear Information System (INIS)

Lecarpentier, Armelle

2013-01-01

Past and recent factors point to a remarkable growth of the Asian market in the medium and long term. This growth will depend on structural and institutional evolutions on the Asian market. Some regulatory and liberalization reforms have already been initiated to support the development of gas but this will require a long process. Oil-indexing will prevail for a long time (but which slope?) Supply flexibility must be improved (relaxation of destination clauses, quantity tolerances) to create a competitive gas market. Marketing innovations expected in new long-term contracts to enhance flexibility whilst preserving investment security. A growing portfolio approach (LNG portfolio, pipeline imports, unconventional gas) is implemented. In conclusion, regional cooperation among Asian buyers is very important

Which strategic challenges for the gas markets in the 21. century

International Nuclear Information System (INIS)

Moncel, V.

2000-01-01

During the CMG 2000 worldwide gas congress, a round table about the worldwide strategies of gas markets was organized. This article summarizes the debates that took place between experts in this domain: opportunities and challenges for the natural gas markets (resources, growing markets, natural gas uses, long term uses); how to develop natural gas markets in developing or almost developed countries (future challenges, opportunities, technology transfers); the worldwide gas industry: the technological needs (transport and petrochemical production, technology impacts, environment protection); the essential technological challenges for the new century; information as driving force of technology (energy choice, role of R and D, information dissemination, on line trade); the challenges in developed countries. (J.S.)

Product Market Integration, Comparative Advantages and Labour Market Performance

DEFF Research Database (Denmark)

Andersen, Torben M.; Rose Skaksen, Jan

2004-01-01

of the specialization gains are similar to anincrease in labour productivity, whereas the labour market reform effectis similar to an increase in the degree of competition in the labourmarket. Wages, employment and welfare increase as a result of furtherproduct market integration. It is interesting to note......In this paper, we set up a two-country general equilibrium modelwhere trade unions have wage bargaining power. We show that adecrease in trade distortions inducing further product market integrationgives rise to specialization gains as well as a labour market reformeffect. The implications...... that the labourmarket reform effect of product market integration is achieved despitean increase in the wage level.JEL Classification: F15, J30, J50.Keywords: Trade frictions, wage formation, employment, welfaregains....

The paradigm change in international natural gas markets and the impact on regulation

International Nuclear Information System (INIS)

Van der Linde, Coby; Correlje, Aad; De Jong, Jacques; Toenjes, Christoph

2006-04-01

CIEP was strongly involved in the preparation of the discussions on the regulation of gas markets at the World Gas Conference in Amsterdam, 6-9 June 2006. CIEP's new study on gas market regulation served as the starting note for the strategic panel discussion 'The art of regulation'. It combines a theoretical foundation for the discussion on gas market regulation with the outcomes of a series of workshops, which addressed gas market regulation in various parts of the world. In particular, the authors aimed at examining whether changing circumstances in international gas markets require adaptations in current regulatory regimes.The study highlights that the regulation of gas markets, made up of elements such as international agreements, licensing and permitting procedures, competition policy, consumer protection and network access regulation, needs to take the specific regional circumstances of the gas market in question into account. There is no 'one size fits all' solution that is applicable to all gas markets in order to bring about the investments necessary

Markets slow to develop for Niger delta gas reserves

International Nuclear Information System (INIS)

Thomas, D.

1995-01-01

Nigeria produces a very high quality, light, sweet crude oil but with a large percentage of associated gas derived from a high gas-to-oil ratio. Official proved gas reserves, both associated and nonassociated, are 120 tcf. Proved and probable reserves are estimated as high as 300 tcf. The internal market for gas has only begun to develop since the 1980s, and as a result approximately 77% of associated gas production is flared. Domestic gas consumption is currently approximately 700 MMcfd and is projected to have a medium term potential of 1.450 bcfd. The article discusses resource development, gas markets, gas flaring, gas use programs, the Bonny LNG scheme, the gas reserve base, LNG project status, competition, and energy opportunities

Transformations in gas shipping : Market structure and efficiency

NARCIS (Netherlands)

Engelen, Steve; Dullaert, Wout

This article aims to improve understanding of the gas shipping markets which, contrary to the main merchant markets- namely the dry, the tanker and the container markets- have not been subject to the same scrutiny. We examine the fundamentals and segment these versatile markets in which expanding

A case study from Turkey: Turkish auto-gas market towards sustainability

International Nuclear Information System (INIS)

Mme Kaya

2008-01-01

Turkish auto-gas market grew uncontrollably trough its initial years, leading to auto-gas product, retrofit cars, auto-gas filing stations and conversion shops in compliance with standards. Moreover, standards were not even adequate for a healthy market. Auto-gas accidents occurred due to mis-applications. Consequently, real benefits of auto-gas could not come into the picture, and general public as well as auto-gas customers came to perceive auto-gas as an inferior, unsafe and low-performance fuel. Today's market is really different than the markets in its initial years and it has covered a long way towards sustainability. To exemplify, the standards and inspections are well established and more strict than before. The image of auto-gas has improved considerably and now customers know that auto-gas is not only economic but also environment-friendly safe and good performance. The critical factor, bringing the market into sustainability and healthiness, are the developments in 4 crucial areas, namely, the government, LPG distribution companies, OEMs and auto-gas conversion firms and lastly, customers. Another important key success factor is cooperation between these 4 forces. The presentation will mainly focus on developments in these areas. (author)

The functioning of the electricity, CO2 and natural gas wholesale markets in 2011-2012

International Nuclear Information System (INIS)

2012-11-01

The Commission for Energy Regulation (CRE) monitors electricity and natural gas transactions carried out between suppliers, traders and producers, transactions carried out on the organised markets as well as cross-border trades. CRE's mission of monitoring wholesale markets aims to ensure that wholesale market energy prices are consistent with the technical and economic fundamentals of these markets. In particular, CRE strives to verify that no market power is exercised in such a way that a participant abuses its situation to attain abnormal prices, notably with regard to its costs. This task is now also in line with the Regulation on Energy Market Integrity and Transparency known as REMIT. This fifth surveillance report of the CRE presents and analyses the developments of wholesale markets in France in 2011 and the first semester of 2012 for electricity, gas and CO 2 . It also details the investigations carried out in relation to the behaviour of stakeholders or in case of particular market events. On the electricity market, the average spot price increased slightly and was established at euro 49/MWh (base-load), i.e. an increase of 3% compared with 2010; the price of the Calendar 2013 product increased following the German moratorium on nuclear energy before gradually decreasing over the second half of the year. The announcement of the moratorium also resulted in a price differential reversal with Germany (German prices becoming more expensive) until February 2012. Volumes traded also remained stable despite a drop in trade on the futures market. On the gas market, the LNG offer in Europe and France clearly fell on account of trade-offs with the Asian market where demand greatly increased following the accident of Fukushima, with gas replacing nuclear in electricity generation. Gas prices rose on average but remained more stable than in 2010 both on spot markets and futures markets. They progressed, however, at a lower rate than oil products on which long

The development of European gas markets. Environmental, economic and political perspectives

International Nuclear Information System (INIS)

Estrada, J.; Moe, A.; Martinsen, K.D.

1996-01-01

By reviewing past history and developments in the European gas markets and European energy policy, this book identifies the driving forces for future market development. Topics covered include future gas demand and potential supplies, inter-fuel competition and the likely structure of gas markets in Europe in the future. (UK)

Gas analysis modeling system forecast for the Energy Modeling Forum North American Natural Gas Market Study

International Nuclear Information System (INIS)

Mariner-Volpe, B.; Trapmann, W.

1989-01-01

The Gas Analysis Modeling System is a large computer-based model for analyzing the complex US natural gas industry, including production, transportation, and consumption activities. The model was developed and first used in 1982 after the passage of the NGPA, which initiated a phased decontrol of most natural gas prices at the wellhead. The categorization of gas under the NGPA and the contractual nature of the natural gas market, which existed at the time, were primary factors in the development of the basic structure of the model. As laws and regulations concerning the natural gas market have changed, the model has evolved accordingly. Recent increases in competition in the wellhead market have also led to changes in the model. GAMS produces forecasts of natural gas production, consumption, and prices annually through 2010. It is an engineering-economic model that incorporates several different mathematical structures in order to represent the interaction of the key groups involved in the natural gas market. GAMS has separate supply and demand components that are equilibrated for each year of the forecast by means of a detailed transaction network

Heating up the gas cooling market

International Nuclear Information System (INIS)

Watt, G.

2001-01-01

Gas cooling is an exciting technology with a potentially bright future. It comprises the production of cooling (and heating) in buildings and industry, by substituting environmentally-friendlier natural gas or LPG over predominantly coal-fired electricity in air conditioning equipment. There are currently four established technologies using gas to provide cooling energy or conditioned air. These are: absorption, both direct gas-fired and utilising hot water or steam; gas engine driven vapour compression (GED); cogeneration, with absorption cooling driven by recovered heat; and desiccant systems. The emergence of gas cooling technologies has been, and remains, one of evolution rather than revolution. However, further development of the technology has had a revolutionary effect on the performance, reliability and consumer acceptability of gas cooling products. Developments from world-renowned manufacturers such as York, Hitachi, Robur and Thermax have produced a range of absorption equipment variously offering: the use of 100 percent environmentally-friendly refrigerants, with zero global warming potential; the ideal utilisation of waste heat from cogeneration systems; a reduction in electrical distribution and stand-by generation capacity; long product life expectancy; far less noise and vibration; performance efficiency maintained down to about 20 percent of load capacity; and highly automated and low-cost maintenance. It is expected that hybrid systems, that is a mixture of gas and electric cooling technologies, will dominate the future market, reflecting the uncertainty in the electricity market and the prospects of stable future gas prices

The evolution of gas price: gas assessment and perspectives; The evolution of gas price on the American, Asian and European markets; Assessment of the organised gas market; Assessment of gas market opening; Gas price: the point of view of consumers and providers; Tariff, the formula which cannot be found: a new stage in an endless history; The diversity of the world gas industry: the Mediterranean situation on prices

International Nuclear Information System (INIS)

Malherbe, Herve; Corbeau, Anne-Sophie; Lu, Long; Maire, Jacques; Verdier, Catherine; Bros, Thierry; Nyouki, Evariste; Astruc, Pierre; Katz, Richard; Jamme, Dominique; Rosier, Philippe; Salanson, Damien; Saniez, Thierry; Moraleda, Pedro; Le Gourrierec, M.

2012-01-01

After a brief introduction, this document contains the various contributions and interventions during round tables dealing with the evolution of gas price on American, Asian and European markets, an assessment of the organised gas market (model, references, members, and so on), an assessment of market gas opening, the point of view of consumers and providers on gas price. Then three articles address the issue of gas pricing in France, the developments of gas industry in the world (consumptions, production, perspectives for LNG) and the Mediterranean situation with respect to gas prices (trends and challenges)

GASTALE. An oligopolistic model of production and trade in the European gas market

International Nuclear Information System (INIS)

Boots, M.G.; Rijkers, F.A.M.; Hobbs, B.F.

2003-08-01

The empirical model GASTALE is described and used to analyse the European natural gas market. These analyses focus primarily on the role of the downstream trading companies and their interaction with gas producers. By default, producers of natural gas are assumed to form an oligopoly in the paper. Meanwhile, downstream within-country traders of gas are represented in different versions of the model as local oligopolists or perfect competitors. The model therefore has a two-level structure, in which producers engage in competition a la Cournot, and each producer is a Stackelberg leader with respect to traders, who may be Cournot oligopolists or perfect competitors. The case of Cournot traders results in a new form of energy model, that of successive oligopoly. The model is formulated as a complementarity problem, and is solved by nonlinear programming. Considering this oligopolistic market structure, several tentative conclusions emerge. First, our model results show that successive oligopoly (so-called 'double marginalisation') yields significantly higher prices and lower consumer welfare than if oligopoly exists only on one level. Second, oligopoly in the trading market (because of the high concentration of traders) results in more distortion than oligopoly in production. Third, the level of traders' profits depends on the possibilities of discrimination on the border prices. If price discrimination by producers is allowed, these producers collect a greater share of the margins on end-use prices. Fourth, when the number of traders increases and assuming an oligopolistic downstream structure, end-use prices converge to prices corresponding with perfect competition. Thus, it is important to prevent (or abolish) monopolistic structures in the downstream gas market. In the case where oligopolistic competition among downstream gas companies cannot be prevented, vertical integration should be supported (or at least not be discouraged), especially if it would result in a

Shale gas. Opportunities and challenges for European energy markets

Energy Technology Data Exchange (ETDEWEB)

De Joode, J.; Plomp, A.J.; Ozdemir, O. [ECN Policy Studies, Petten (Netherlands)

2013-02-15

The outline of the presentation shows the following elements: Introduction (Shale gas revolution in US and the situation in the EU); What could be the impact of potential shale gas developments on the European gas market?; How may shale gas developments affect the role of gas in the transition of the power sector?; and Key messages. The key messages are (1) Prospects for European shale gas widely differ from US case (different reserve potential, different competition, different market dynamics); (2) Shale gas is unlikely to be a game changer in Europe; and (3) Impact of shale gas on energy transition in the medium and long term crucially depends on gas vs. coal prices and the 'penalty' on CO2 emissions.

Shippers and Network Capacity Booking in the Dutch Gas Market

NARCIS (Netherlands)

Bucura, C.; Lukszo, Z.

2012-01-01

The main objectives of the Third Gas Directive (2009/73EC) approved by the European Union are: unbundling, creating an independent Transport Service Operator (TSO) and ensuring free access to the market. The separation of gas trading from transportation activities required new market rules and gas

The tenth CERI [Canadian Energy Research Institute] international oil and gas markets conference

International Nuclear Information System (INIS)

1991-01-01

At a conference on oil and gas markets, papers were presented on oil market instability and its impact on economic development, international energy policy, oil supply and demand, natural gas liquids sales, world gas trade, gas markets in Europe and Asia, petroleum industry activities and their relation to government, oil refining and product market developments, and the North American natural gas market. Separate abstracts have been prepared for 25 papers from this conference

Prospective of the Natural Gas marketing 2002-2011

International Nuclear Information System (INIS)

2002-01-01

According with the 109 Th Article of the Natural Gas Regulations the Secretaria de Energia publishes this prospective of the Natural gas market 2002-2011 which describes and analyses the necessities of Mexico in relation with this industry in the mentioned period. Here aspects such as: the present and future international panorama of the natural gas market, international prices, the world demand with base in the Department of Energy (DOE) turnover of the United States, Advances of the in force regulatory framework, Sales, the National Gas pipeline system, Evolution of the National market, Demand at regional and sectoral scales, Supply analysis, Programs and projects of energy savings, natural gas balance with the high demand scene, the methodology of the Instituto Mexicano del Petroleo for calculating the self-generation demand of the electric energy by sector, a glossary with the more used terms, conversion factors and abbreviations and acronyms used in the document are treated. In the next ten years, the national demand of natural gas will suffer an annual average growth of 7.4% passing from 4358 millions of daily cubic feet (mm pcd) in 2001 to 8883 mm pcd in 2011. (Author)

Stock Market Integration Measurement: Investigation of Malaysia and Singapore Stock Markets

OpenAIRE

B. K. Yeoh; Z. Arsad; C. W. Hooy

2010-01-01

This paper tests the level of market integration between Malaysia and Singapore stock markets with the world market. Kalman Filter (KF) methodology is used on the International Capital Asset Pricing Model (ICAPM) and the pricing errors estimated within the framework of ICAPM are used as a measure of market integration or segmentation. The advantage of the KF technique is that it allows for time-varying coefficients in estimating ICAPM and hence able to capture the varying degree of market int...

Risks in global natural gas markets: Investment, hedging and trade

International Nuclear Information System (INIS)

Egging, Ruud; Holz, Franziska

2016-01-01

Recent supply security concerns in Europe have revived interest into the natural gas market. We investigate infrastructure investment and trade in an imperfect market structure for various possible risks for both supply and demand. We focus on three possible scenarios in a stochastic global gas market model: (i) transit of Russian gas via Ukraine that may be disrupted from 2020 on; (ii) natural gas intensity of electricity generation in OECD countries that may lead to higher or lower natural gas demand after 2025; and (iii) availability of shale gas around the globe after 2030. We illustrate how the timing of investments is affected by inter-temporal hedging behavior of market agents, such as when LNG capacity provides ex-ante flexibility or an ex-post fallback option if domestic or nearby pipeline supply sources are low. Moreover, we find that investment in LNG capacities is more determined by demand side pull – due to higher needs in electric power generation – than by supply side push, e.g. higher shale gas supplies needing an outlet. We focus on Europe, North America, and China that are the world's most important gas consuming and supplying regions. - Highlights: •We use the stochastic variant of the multi-period Global Gas Model. •We investigate the effects of uncertainty in Russian exports, demand, and shale gas. •We find that LNG is preferred as hedging option in anticipation of uncertain events. •Pipelines may be chosen as recourse decision after uncertain events realized. •China will dominate the global natural gas market regardless the scenario.

The strategy of players on the European gas market

International Nuclear Information System (INIS)

Lecarpentier, A.

2006-01-01

One result of opening up the European gas market to competition has been to increase the number and diversity of the players involved, whether producers, suppliers or electric utilities. However, while the gas on offer is still controlled by a handful of market players given the increasing importance of state-owned companies from exporting countries outside Europe, the downstream gas sector continues to show a strong concentration of incumbent operators seeking a dominant position in the supply of gas. (author)

The strategy of players on the European gas market

Energy Technology Data Exchange (ETDEWEB)

Lecarpentier, A

2006-07-01

One result of opening up the European gas market to competition has been to increase the number and diversity of the players involved, whether producers, suppliers or electric utilities. However, while the gas on offer is still controlled by a handful of market players given the increasing importance of state-owned companies from exporting countries outside Europe, the downstream gas sector continues to show a strong concentration of incumbent operators seeking a dominant position in the supply of gas. (author)

The new natural gas futures market - is it efficient?

International Nuclear Information System (INIS)

Herbert, J.H.

1993-01-01

Aspects of the natural gas futures market are discussed. In particular, the efficiency of the natural gas futures market is evaluated using a regression equation. It is found that the market has behaved more like an inefficient market than an efficient one. A variety of tests are applied to the estimated equation. These tests suggest that the estimated equation provides a good summary of the relationship between spot and futures prices for the time period. In addition, the equation is found to produce accurate forecasts. (Author)

Lack of competition in Italian natural gas market

International Nuclear Information System (INIS)

Bozzetto, Fabrizio

2007-01-01

This article analyses the reasons for an evident lack of competition in the Italian natural gas market, after the 2003 full liberalisation of the market. In particular, analysis focuses on dynamics which probably marks mass market and small office segments [it

Gas Markets: Review of 2012 and medium term perspectives

International Nuclear Information System (INIS)

2013-01-01

This series of slides present a review of the 2012 gas markets and of their medium term perspectives. A moderate gas activity is expected worldwide in the short-term (supply risks). The globalization process has been slowing down but a rebound in world gas and LNG demand is expected from the middle of this decade (+ 2.5%/year up to 2020). A new wave of projects and investments is required (40 Mt of new FIDs from non-US projects in the next two years, Market conditions will loosen after 2017). A more globalized and liquid gas market is much-needed by 2020. Oil indexing will be supported by Australian LNG projects and Asian prices will support high levels of European spot prices

North American Natural Gas Markets

Energy Technology Data Exchange (ETDEWEB)

1988-12-01

This report sunnnarizes the research by an Energy Modeling Forum working group on the evolution of the North American natural gas markets between now and 2010. The group's findings are based partly on the results of a set of economic models of the natural gas industry that were run for four scenarios representing significantly different conditions: two oil price scenarios (upper and lower), a smaller total US resource base (low US resource case), and increased potential gas demand for electric generation (high US demand case). Several issues, such as the direction of regulatory policy and the size of the gas resource base, were analyzed separately without the use of models.

North American Natural Gas Markets

Energy Technology Data Exchange (ETDEWEB)

1989-02-01

This report summarizes die research by an Energy Modeling Forum working group on the evolution of the North American natural gas markets between now and 2010. The group's findings are based partly on the results of a set of economic models of the natural gas industry that were run for four scenarios representing significantly different conditions: two oil price scenarios (upper and lower), a smaller total US resource base (low US resource case), and increased potential gas demand for electric generation (high US demand case). Several issues, such as the direction of regulatory policy and the size of the gas resource base, were analyzed separately without the use of models.

A Marketing Perspective on Mergers and Acquisitions : How Marketing Integration Affects Postmerger Performance

OpenAIRE

Homburg, Christian; Bucerius, Matthias

2004-01-01

Previous research on mergers and acquisitions (M&A) has neglected marketing issues by and large. This paper examines the effects of post merger integration (PMI) in marketing (ex tent and speed of marketing integration) on M&A performance mediated by integration outcomes (magnitude of cost savings and market-related performance). Results from a survey of 232 horizontal mergers and acquisitions show that market-related performance after the merger or acquisition has a much stronger impac...

Natural gas prices in the Maritimes : an energy market assessment

International Nuclear Information System (INIS)

2004-03-01

The National Energy Board monitors the supply and price of natural gas in the Maritimes. This report contains the results and analysis of a survey of the wholesale natural gas prices paid by Canadian buyers in the Maritimes from November 2002 to October 2003. The objective of the report is to improve the understanding of the market factors that influence wholesale natural gas prices in the Maritimes. A comparative evaluation of domestic and export prices shows that Canadian buyers have had access to gas at prices similar to the export market at St. Stephen, New Brunswick. Since the number of participants in the domestic market is low, only four large buyers have a major impact on average prices in the region. The challenge for small buyers will be to buy gas from others who can divert some of their own sales of use. However, these sellers may not want to over-commit to new firm sales in case they have to re-purchase the gas during shortages that may occur due to fluctuations in production or shipping. It was noted that a new gas supply into the region would support many buyers and sellers, and could lead to a more transparent Maritime natural gas market. The National Energy Board is satisfied that the Maritime natural gas market is currently performing as well as can be expected, given its young stage of development. 1 tab., 8 figs., 1 appendix

Centre of the European gas market. The European Autumn Gas Conference

International Nuclear Information System (INIS)

Van Hasselt, F.; Van der Wal, W.; Ruinen, H.

1998-01-01

From the results of the 1997 European Autumn Gas Conference in Barcelona, Spain, it appears that the European gas industry is mainly focused on the liberalization of the European energy market. The main topic of the Conference was 'dealing with surplus'. A brief overview is given of the natural gas trade developments in the European countries. 1 ill., 1 tab. 2 ills

The reform in the Turkish natural gas market: A critical evaluation

International Nuclear Information System (INIS)

Cetin, Tamer; Oguz, Fuat

2007-01-01

Turkey is in a strategically advantageous position in terms of its natural gas market. Being in the middle of Europe and energy-rich countries of Central Asia, it can be an energy corridor between these two regions. It can import gas from a number of countries and diversify its sources. This situation may also provide motivation for a competitive gas market. The recent reform in the market, which began in 2001, was an attempt to strengthen the natural gas market to this end. However, the reform has not worked out as expected so far. This article discusses recent restructuring efforts in the Turkish natural gas market. We focus on the legal structure and economic consequences of the legal change within the international economic relations. After presenting a detailed discussion of the legal framework, we draw attention to the problems of the industry and difficulties in the transition to a more competitive market structure. In the end, we touch upon some regulatory issues and potential conflicts. (author)

Natural gas and deregulation in the European Market

International Nuclear Information System (INIS)

Anon.

2000-01-01

The gas market is progressively moving towards new organizations under the effect of deregulation initiated in the United States, the United Kingdom and transposed to other countries, particularly in Europe, at least for the member countries of the European Union. Within the framework provided by this overall trend, Cedigaz proposes a study titled 'Natural Gas and Deregulation' in order to describe the main developments affecting these markets on account of deregulation. This report is structured on the basis of three main topics (market organization, marketing modes, pricing) which appears to be the most cogent in terms of deregulation. This grouping by major topics accordingly offers a relatively synthetic view of the main trends which could be observed in the European market, for example. The analysis is largely based on the example of the American market and, to a lesser extent, on the British situation. Incidentally, it has adapted the terms 'regulated market' to define conventional markets and 'deregulated market' to define markets which have incorporated the principle of Third Party Access (TPA). This is obviously a mere convention, since in both cases, the gas market, a network market, is regulated either by the State or by an independent agency. Also noteworthy is the diversity of the regulation methods for the network markets. While an underlying principle prevails throughout, particularly the introduction of TPA, political and energy considerations alike are liable to condition strongly the final structure of a given market. The apparently comparable British and American experience thus display substantial differences. In other words, one should not imagine a sudden transposition of either case to the European market. The different States preserve considerable leeway to guide market developments in one direction or another. On the whole, deregulation is not a frozen process, but has to adapt permanently to developments in a market stage-managed by

The development of the natural gas market in Morocco

International Nuclear Information System (INIS)

Bencheqroun, A.

1997-01-01

Thanks to the transit royalties gained with the Maghreb-Europe gas pipeline, Morocco will dispose of an important source of energy supply which will allow the development of a local natural gas market, and as part of the rural electrification policy, will dispose of a safe resource of power production. This paper presents the energy and economical situation of Morocco, in particular the development of LPG consumption, nd the perspectives of development of the natural gas market and of gas companies in this country. (J.S.)

The Marketing Plan: An Integrative Device for Teaching Marketing Management.

Science.gov (United States)

Berdine, W. R.; Petersen, James C.

1980-01-01

The importance of the marketing plan is stressed as an integrative device for teaching marketing management, and a structure is presented to assist students in designing a marketing plan. Components of this plan include marketing objectives, targeting market and buying motives, external environment and competition, product, price, and promotion.…

Financial instruments help producers hedge gas deals in volatile market

International Nuclear Information System (INIS)

Lawnin, J.N.; Kupiec, S.L.

1993-01-01

The Natural Gas Policy Act (NGPA) of 1978 and more recently the U.S. Federal Energy Regulatory Commission's Order 636 have changed gas marketing from a totally regulated industry to one that responds to free-market forces. The stable but controlled market in which producers once sold gas has become highly competitive and more efficient. Consequently, prices have become more volatile; they respond more quickly than they did before to changes in supply of and demand for natural gas. Prior to deregulation of the natural gas industry, producers had fewer marketing options than they do today. Under a typical gas sales contract, producers sold gas to the nearest pipeline at regulated prices, which remained relatively stable along the interstate distribution chain. The system, however, failed to generate adequate supply of gas. In an effort to realign supply and demand, Congress initiated the deregulation of natural gas with NGPA, which phased out most wellhead price controls. A series of FERC actions culminating in Order 636 extended the process. Now, independent producers can sell gas directly to end users. Under Order 636, interstate pipelines no longer offer merchant services to gas customers. The paper discusses the change in risk profiles, price protection, futures and options, hedged exposure, setting price floors, off-exchange contracts, risk considerations, types of risks, business controls, back office controls, and credit monitoring

China's gas market under new situations: Trends and countermeasures – Taking Sichuan and Chongqing gas provinces as an example

Directory of Open Access Journals (Sweden)

Zi'ang Jiang

2016-05-01

Full Text Available The world oil and gas market has entered a new period of low oil prices, which has inevitably affected the natural gas market in China. So, it is urgent to timely study the market trends and to actively seek for appropriate countermeasures. In this paper, the development trends of China's gas market under the situations of New Normal and low oil prices were analyzed from the perspective of sustainable development of the natural gas industrial chain and market, by taking the Sichuan and Chongqing gas provinces as an example, which are of representative and of great significance to China in its natural gas market. The following trends were identified. First, the gas market reform will be deepened. Second, the competition among major market players will be intensified. Third, supply will exceed demand. Fourth, export tasks will be difficult. Fifth, higher demand of “guarantees of the minimum GDP, tax and profit” will be raised for local government. And sixth, low-cost strategy will be indispensable to oil and gas enterprises. In order to cater to these trends, some countermeasures were presented during the 13th Five-Year Plan. First, to improve the natural gas market system, to strengthen the supply-side reform, to complete market development modes, and to promote the introduction of governmental policies for relevant industries. Second, to develop the efficient gas-consuming clusters such as industrial parks, LNG-fueled vehicles and vessels, and distributed energy sources system, to establish innovative marketing strategy systems, and to boost the localization of resource consumption, through the establishment of strategic alliances for natural gas terminal markets in partnership with local governments and competitive enterprises, while the Chinese government is intensifying efforts in promoting energy conservation and pollution reduction and haze control. Third, to improve the cobweb pipeline network system, and to establish the strategic

Medium-Term Gas Market Report 2013: Market Trends and Projections to 2018

Energy Technology Data Exchange (ETDEWEB)

NONE

2013-06-01

Global growth in natural gas use slowed measurably in 2012, although it still exceeded that of oil and total energy use. Among the headwinds facing gas are continuing weak demand in Europe, resilience of coal in North America as well as persistent bottlenecks and disruptions in the LNG value chain that in 2012 caused an exceptional global decline of LNG supply. At the same time, Asian demand for gas remains red-hot, and gas is beginning to gain traction as a transport fuel. The IEA new Medium-Term Gas Market Report provides a detailed analysis of demand, upstream investment and trade developments through 2018 that will shape the gas industry and the role of gas in the global energy system. Its special sections investigate the economic viability of gas-fired power generation in Europe, the prospects for an LNG trading hub in Asia as well as the potentially transformational role of natural gas in transport. Amid a continuous regional divergence between North American abundance, European weakness and Asian thirst for LNG, the 2013 Medium Term Gas Market Report will investigate the key questions that the gas industry faces. These include the prospect of the United States becoming a major gas exporter, the challenges of securing enough gas to meet China’s growth, and the ability of Russian gas – spurred both by weak EU demand and resurgent domestic production – to find its manifest destiny in Asia.

Global impact of uncertainties in China’s gas market

International Nuclear Information System (INIS)

Xunpeng, Shi; Variam, Hari Malamakkavu Padinjare; Tao, Jacqueline

2017-01-01

This paper examines the uncertainties in Chinese gas markets, analyze the reasons and quantify their impact on the world gas market. A literature review found significant variability among the outlooks on China's gas sector. Further assessment found that uncertainties in economic growth, structural change in markets, environmental regulations, price and institutional changes contribute to the uncertainties. The analysis of China’s demand and supply uncertainties with a world gas-trading model found significant changes in global production, trade patterns and spot prices, with pipeline exporters being most affected. China's domestic production and pipeline imports from Central Asia are the major buffers that can offset much of the uncertainties. The study finds an asymmetric phenomenon. Pipeline imports are responding to China's uncertainties in both low and high demand scenarios while LNG imports are only responding to high demand scenario. The major reasons are higher TOP levels and the current practice of import only up to the minimum TOP levels for LNG, as well as a lack of liberalized gas markets. The study shows that it is necessary to create LNG markets that can respond to market dynamics, through either a reduction of TOP levels or change of pricing mechanisms to hub indexation. - Highlights: • Economic growth, regulations, reforms and shale gas cause the uncertainties. • Pipeline exporters to China and Southeast Asian and Australian LNG exporters affected the most. • China’s domestic production and pipe imports offset much of the uncertainties. • Pipeline imports are responding to China’s uncertainties in both low and high demand. • LNG imports are only responding to high demand scenario.

Natural gas markets and the creation of an export gas pipeline system in Eastern Russia

International Nuclear Information System (INIS)

Saneev, B.G.; Sokolov, A.D.; Popov, S.P.

2003-01-01

The world natural gas markets are analysed, with a special focus on the countries of Northeast Asia (NEA). The natural gas demands of China, Japan and South Korea, until the year 2020, is projected, considering a possible share of Russian gas. The resource potential of natural gas from the Siberian platform and the Sakhalin shelf is given as a sound basis for fuelling Russia's position in the natural gas market of NEA countries. Development of the powerful gas industry in the East of Russia faces some particular conditions that can decrease the effectiveness of investments. The eastern geopolitical direction is very important for Russia and the necessity to create a favourable political and economic environment for oil and gas export is of prime interest, as stressed in Energy Strategy for Russia till the Year 2020. In this context, the long-term market for natural gas in East Siberia and the Far East of Russia is investigated. Possible routes of natural gas export from Russia to NEA countries include three main directions: to the west of China with connection to the 'West-East gas pipeline', a route through and/or round Mongolia and, finally, a route along the Trans-Siberian or Baikal-Amur railroads to Russian ports in the Far East. As a result of complex studies, three stages in the creation of the unified gas pipeline system are suggested. Evaluation of the investments required for construction of such a natural gas pipeline system, expected gas volumes and prices on the markets show its high economic efficiency. In conclusion, the most valuable ideas are stressed. (author)

Russian Gas Market: Entering New Era

International Nuclear Information System (INIS)

Mitrova, Tatiana; Molnar, Gergely

2015-04-01

After a period of extensive growth in the 2000's, the Russian gas industry is now facing numerous challenges. Mounting competition by independent producers and the development of new production by Gazprom, combined with stagnating domestic demand and weakening export markets, have created a situation of overproduction, made worse by western sanctions and low oil and gas prices. Expansion to the East thanks to the recent China deal is not expected to provide much relief before 2024. The coming decade will be critical for the industry and its outcome will largely depend on the government's pricing and institutional policies but the role of the state should remain essential. This document presents the key findings of the New CEDIGAZ report 'Russian Gas Market: Entering New Era'. The report analyses the ongoing changes in the Russian industry and the challenges to be met

Electric power geneation and other gas market opportunities

International Nuclear Information System (INIS)

Lucy, M.S.

1991-01-01

The future market for natural gas in the northeast USA is discussed. A strong market demand for natural gas is foreseen to continue because of the need for clean burning electric generation facilities and the low saturation of overall natural gas use in the northeast. Although total gas sales increased 30% in the northeast from 1978 to 1989, and conversion of commercial businesses and houses to natural gas use is increasing, the northeast still remains highly dependent on oil as an energy source. For example, nearly 60% of all the oil used to generate electricity and ca 70% of all the home heating oil used the USA is burned in the northeast. The northeast currently receives ca 4.3 billion ft 3 /d of gas, 80% from Louisiana and Texas. With the addition of a number of pipeline projects, another 4.2 billion ft 3 /d will be added by 1992. Power demand is growing, and many New England generation plants are 30 years old or more and in need of upgrading. Natural gas is the fuel of choice for new installations because of pollution regulations, low capital costs, competitive gas pricing, and other factors. A recent report projects that ca 68% of the planned cogeneration capacity in New England will be fuelled by natural gas, requiring an additional 200.7 billion ft 3 /d in the northeast. Another market with strong potential for continued growth is the residential sector, where only 61% of households with gas service use gas for heating. Natural gas vehicle development is being stimulated by mandates for alternative fuelled vehicle fleets; an increase in gas demand of 600 billion ft 3 by 2005 is projectd, based on increased use of natural gas vehicles. 2 figs., 6 tabs

Increased competition on the supply side of the Western European natural gas market

International Nuclear Information System (INIS)

Golombek, R.; Gjelsvik, E.; Rosendahl, K.E.

1998-01-01

This paper analyzes how the supply side of the Western European natural gas market may react if the demand side becomes competitive. The authors show--using a numerical model of the Western European natural gas market--that once the demand side of the market is liberalized, each gas-producing country has an incentive to break up its gas sellers. The model therefore suggests that there may be numerous producers in a liberalized natural gas market. Hence, in a liberalized market consumers will not be exploited by suppliers

Gas market distorting effects of imbalanced gas balancing rules: Inefficient regulation of pipeline flexibility

International Nuclear Information System (INIS)

Keyaerts, Nico; Hallack, Michelle; Glachant, Jean-Michel; D'haeseleer, William

2011-01-01

This paper analyzes the value and cost of line-pack flexibility in liberalized gas markets through examination of the techno-economic characteristics of gas transport pipelines and the trade-offs between different ways to use the infrastructure: transport and flexibility. Line-pack flexibility is becoming increasingly important as a tool to balance gas supply and demand over different periods. In the European liberalized market context, a monopolist unbundled network operator offers regulated transport services and flexibility (balancing) services according to the network code and balancing rules. Therefore, gas policy makers should understand the role and consequences of line-pack regulation. The analysis shows that the line-pack flexibility service has an important economic value for the shippers and the TSO. Furthermore, the analysis identifies distorting effects in the gas market due to inadequate regulation of line-pack flexibility: by disregarding the sunk costs of flexibility in the balancing rules, the overall efficiency of the gas system is decreased. Finally, the analysis demonstrates that the actual costs of line-pack flexibility are related to the peak cumulative imbalance throughout the balancing period. Any price for pipeline flexibility should, therefore, be based on the related trade-off between the right to use the line-pack flexibility and the provision of transport services. - Research Highlights: →Line-pack flexibility is a main gas balancing instrument. →Capacity related costs of line-pack flexibility depend on peak cumulative imbalances. →Line-pack pricing rules determine choice between ex ante and ex post balancing. →Inefficient line-pack regulation causes gas market distortions.

Gas pricing in Europe. Pt. 2. End-use consumption markets

International Nuclear Information System (INIS)

Donath, R.

1996-01-01

In the end-use consumption markets, gas is supplied to households, small consumers and industrial customers of retail distributors. As regards the delimitation of industrial customers receiving gas from retail distributors, there are great differences from one country to another, similarly to the market segmentation of wholesale markets.- First of all, the article points out structures and regulations in the investigated end-use consumption markets. The second part investigates cost-oriented and value-oriented pricing principles, followed by a comparison of price structures based on the Eurostat gas purchasing criteria for households and small consumers in the third part. A fourth part summarizes the results. (orig./UA) [de

Effects of liberalizing the natural gas markets in Western Europe

Energy Technology Data Exchange (ETDEWEB)

Golombek, R [Stiftelsen for Samfunns- og Naeringslivsforskning, Oslo (Norway); Gjelsvik, E; Rosendahl, K E [Statistisk sentralbyraa, Oslo (Norway)

1994-08-01

The aim of this paper is to examine the impact of liberalization of the West-European natural gas markets within a numerical model. The authors study profit maximizing Cournot producers facing an ideal third party access for gas transport in Western Europe. In each country there are two types of end-users, small consumers in the residential, commercial and public sector and large users in the manufacturing industry and in the electric power supply. The analysis proceeds in stages. First the case where no traders exploit arbitrage possibilities and some producers have limited access to the markets is examined. In this equilibrium net prices differ across markets. These differences disappear in the second case where traders are introduced. The third case focuses on a complete European market for natural gas in which traders exploit all arbitrage possibilities and all producers are in a position to sell gas in all markets. The impact on the complete European market of changes in costs of production, costs of transport and costs of distribution is studied. Finally, the impact of banning gas sales consortia in Western Europe is studied. It is shown that this measure increases welfare in Western Europe, whereas profits to non-European producers decrease. 31 refs., 12 tabs.

Effects of liberalizing the natural gas markets in Western Europe

International Nuclear Information System (INIS)

Golombek, R.; Gjelsvik, E.; Rosendahl, K.E.

1994-01-01

The aim of this paper is to examine the impact of liberalization of the West-European natural gas markets within a numerical model. The authors study profit maximizing Cournot producers facing an ideal third party access for gas transport in Western Europe. In each country there are two types of end-users, small consumers in the residential, commercial and public sector and large users in the manufacturing industry and in the electric power supply. The analysis proceeds in stages. First the case where no traders exploit arbitrage possibilities and some producers have limited access to the markets is examined. In this equilibrium net prices differ across markets. These differences disappear in the second case where traders are introduced. The third case focuses on a complete European market for natural gas in which traders exploit all arbitrage possibilities and all producers are in a position to sell gas in all markets. The impact on the complete European market of changes in costs of production, costs of transport and costs of distribution is studied. Finally, the impact of banning gas sales consortia in Western Europe is studied. It is shown that this measure increases welfare in Western Europe, whereas profits to non-European producers decrease. 31 refs., 12 tabs

Flexible LNG supply, storage and price formation in a global natural gas market