Advertisement

Natural Gas Market

  • Subhes C. BhattacharyyaEmail author
Chapter

Abstract

This chapter introduces the specific features of the natural gas market and shows why the industry has developed in a different way than the oil industry. It then indicates the efforts being made to transform the regional markets into a global market. The economics of the gas market relevant to the developed and the developing countries is also presented.

Keywords

Supply chain Specific features Demand Supply Reserves R/P ratio Trade Importers Suppliers Pricing LNG Piped gas 

References

  1. Angelini, F. (2011). Economic analysis of gas pipeline projects, JASPERS Staff Working Papers, Joint Assistance to Support Projects in European Regions, Brussels. http://www.jaspersnetwork.org/plugins/servlet/documentRepository/displayDocumentDetails?documentId=183.
  2. API. (2014). Understanding natural gas markets, American Petroleum Institute, Washington, DC. https://www.api.org/~/media/Files/Oil-and-Natural-Gas/Natural-Gas/API-Understanding-Natural-Gas-Markets.pdf.
  3. Banks, F. E. (1987). The political economy of natural gas. London: Croom Helm.Google Scholar
  4. Brown, S. P., & Yucel, M. K. (2007). What drives natural gas prices? Working Paper 0703, Federal Reserve Bank of Dallas, Dallas, Texas, USA.Google Scholar
  5. Chyong, C. K. (2019). European natural gas markets: Taking stock and looking forward. Review of Industrial Organisation, 55, 89–109.CrossRefGoogle Scholar
  6. Davidson, A., Hurst, C., & Mabro, R. (1988). Natural gas: Governments and oil companies in the third world. OIES: Oxford University Press, London.Google Scholar
  7. Energy Charter Secretariat. (2009). Fostering LNG Trade: developments in LNG trade and pricing. Brussels, Belgium: Energy Charter Secretariat.Google Scholar
  8. Energy Charter Secretariat. (2012). Bringing gas to the market: Gas transit and transmission tariffs in energy charter treaty countries—Regulatory aspects and tariff methodologies. Brussels: Energy Charter Secretariat.Google Scholar
  9. Energy Charter Secretariat. (2015). Intergovernmental agreements and host government agreements on oil and gas pipelines: A comparison. Brussels: Energy Charter Secretariat.Google Scholar
  10. ESMAP. (2003). Cross-border oil and gas pipelines: Problems and Prospects, Energy Sector Management Assistance Programme, The World Bank. USA: Washington D.C.Google Scholar
  11. EFET. (2018). 2018 Review of Gas Hub Assessment, European Federation of Energy Traders, Amsterdam. https://efet.org/energy-markets/gas-market/european-gas-hub-study/.
  12. IEA. (2000). Regulatory reform European gas. Paris: IEA.Google Scholar
  13. Jensen, J. T. (2004). The development of a global LNG market: Is it likely? If so, when?. Oxford, U.K.: Oxford Institute of Energy Studies.Google Scholar
  14. Julius, D. A., & Mashayekhi, A. (1990). The economics of natural gas: Pricing. Planning and Policy: Oxford University Press, London.Google Scholar
  15. Juris, A. (1998a). The emergence of natural gas markets, World Bank Working Paper, WPS 1895, World Bank, Washington D.C.Google Scholar
  16. Juris, A. (1998b). Market developments in the United Kingdom’s natural gas industry, Policy Research Working Paper 1890, World Bank, Washington D.C.Google Scholar
  17. Massol, O. (2009). Cost function for the natural gas transmission industry: further considerations, Cahiers de Recherche 09.09.86, CREDEN, University of Montpellier, Montpellier, France.Google Scholar
  18. Melling, A. J. (2010). Natural gas pricing and its future: Europe as the battleground, Carnegie Endowment for International Peace, Washington D.C. https://carnegieendowment.org/files/gas_pricing_europe.pdf.
  19. Miyamoto, A., & Ishiguro, C. (2009). A new paradigm for natural gas pricing in Asia: A perspective on market value, NG 28. Oxford, U.K.: Oxford Institute for Energy Studies.Google Scholar
  20. Newbery, D. G. M. (1999). Privatisation, restructuring and regulation of network utilities. Mass: MIT Press.Google Scholar
  21. Noble, P. (2009). A short history of LNG shipping 1959–2009, SNAME, Texas Section. www.sname.org.
  22. O’Neil, B., Hopkins, P., & Gressley, J. (2016). The economic benefits of natural gas pipeline development on the manufacturing sector, Consulting report for the National Association of Manufacturers. https://www.nam.org/wp-content/uploads/2019/05/NAM_NG_Report_042816.pdf.
  23. Okimi, H. (2003). Comparative economy of LNG and pipelines in gas transmission, Paper for World Gas Conference 2003, Japan. http://www.igu.org/html/wgc2003/WGC_pdffiles/10392_1045815366_9772_1.pdf.
  24. Percebois, J. (1986). Gas market prospects and relationship with oil prices. Energy Policy, 14(4), 329–346.CrossRefGoogle Scholar
  25. Pirani, S. (2018). Russian gas transit through Ukraine after 2019: the options, Oxford Energy Insight 41, November 2018, Oxford Institute of Energy Studies, Oxford. https://www.oxfordenergy.org/wpcms/wp-content/uploads/2018/11/Russian-gas-transit-through-Ukraine-after-2019-Insight-41.pdf.
  26. PWC. (2018). The progression of an LNG project: Canadian LNG projects, PricewaterhouseCoopers Canada. https://www.pwc.com/gx/en/mining/publications/assets/pwc-lng-progression-canada.pdf.
  27. Rogner, H. H. (1989). Natural gas as the fuel for the future. Annual Review of Environment, 14, 47–73.CrossRefGoogle Scholar
  28. Shi, X., & Variam, H. M. P. (2018). Key elements for functioning gas hubs: A case study of East Asia. Natural Gas Industry B, 5(2), 167–176.CrossRefGoogle Scholar
  29. Songhurst, B. (2018). LNG Plant cost reduction 2014–2018, OIES Paper 137, Oxford Institute of Energy Studies, Oxford. https://www.oxfordenergy.org/wpcms/wp-content/uploads/2018/10/LNG-Plant-Cost-Reduction-2014%E2%80%9318-NG137.pdf.
  30. Stern, J. (2007). Is there a rationale for the continuing link to oil product prices in Continental European long-term gas contracts, NG 19. Oxford, U.K.: Oxford Institute for Energy Studies.Google Scholar
  31. Steuer, C. (2019). Outlook for competitive LNG supply, OIES paper 142, Oxford Institute of Energy Studies, Oxford. https://www.oxfordenergy.org/wpcms/wp-content/uploads/2019/03/Outlook-for-Competitive-LNG-Supply-NG-142.pdf?v=79cba1185463.
  32. Teece, D. J. (1996). The uneasy case for mandatory contract carriage in the natural gas industry, in New Horizons in Natural Gas Deregulation. London: Praeger.Google Scholar
  33. Thanawat, N., & Bhattacharyya, S. C. (2007). High gas dependence for power generation in Thailand: the vulnerability analysis. Energy Policy, 35(6), 3335–3346.CrossRefGoogle Scholar
  34. Thomas, S., & Dawe, R. A. (2003). Review of ways to transport natural gas energy from countries which do not need the gas for domestic use. Energy, 28(14), 1461–1477.CrossRefGoogle Scholar
  35. Viscusi, K., Vernon, J. M., & Harrington, J. E., Jr. (2005). Economics of Regulation and antitrust. Mass: MIT Press.Google Scholar
  36. Yepez, R. A. (2008). A cost function for the natural gas transmission industry. The Engineering Economist, 53(1), 68–83.CrossRefGoogle Scholar

Copyright information

© Springer-Verlag London Ltd., part of Springer Nature 2019

Authors and Affiliations

  1. 1.Institute of Energy and Sustainable DevelopmentDe Montfort UniversityLeicesterUK

Personalised recommendations