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Natural Gas Market Modeling

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Complementarity Modeling in Energy Markets

Part of the book series: International Series in Operations Research & Management Science ((ISOR,volume 180))

Abstract

Natural gas is a key fuel in energy markets worldwide. It is produced from either onshore or offshore wells, processed to remove impurities, and then transported by either pipeline in gaseous form or cooled to about -260 degrees F (about -160 degrees C) and then transported as liquefied natural gas (LNG) to destinations around the world. The main consuming sectors that use it are residential, commercial, industrial, electric power, and to some extent transportation. At present, the world has abundant gas supplies. According to [52], the global mean projected remaining recoverable resources is 16,200 trillion cubic feet (Tcf) or 150 times the current annual global consumption. About 9,000 Tcf is gauged to be economically available at less than or equal to $4 per million British Thermal Units (Btu) [52].

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Authors and Affiliations

  1. Department of Civil and Environmental Engineering, University of Maryland, College Park, MD, USA

    Steven A. Gabriel

  2. University of Castilla – La Mancha, Campus Universitario s/n, Ciudad Real, Spain

    Antonio J. Conejo

  3. Department of Management Sciences, University of Waterloo, Waterloo, Ontario, Canada

    J. David Fuller

  4. Department of Geography and Environmental Engineering, The Johns Hopkins University, Baltimore, MD, USA

    Benjamin F. Hobbs

  5. European Foundation for New Energy – EDF École Centrale Paris and Supélec, Châtenay-Malabry, France

    Carlos Ruiz (Chair on Systems Science and the Energetic Challenge)

Authors
  1. Steven A. Gabriel
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  2. Antonio J. Conejo
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  3. J. David Fuller
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  4. Benjamin F. Hobbs
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  5. Carlos Ruiz
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Gabriel, S.A., Conejo, A.J., Fuller, J.D., Hobbs, B.F., Ruiz, C. (2013). Natural Gas Market Modeling. In: Complementarity Modeling in Energy Markets. International Series in Operations Research & Management Science, vol 180. Springer, New York, NY. https://doi.org/10.1007/978-1-4419-6123-5_10

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