Empirical Analysis Of Natural Gas Markets PDF Download
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| Author | : David A Anderson |
| Publisher | : Mdpi AG |
| Total Pages | : 200 |
| Release | : 2020-10-02 |
| Genre | : Technology & Engineering |
| ISBN | : 9783039431366 |
Download Empirical Analysis of Natural Gas Markets Book in PDF, ePub and Kindle
Recent developments in the natural gas industry warrant new analysis of related issues. Environmental, social, and governance (ESG) investments have accelerated the shift away from coal as the dominant source of electricity. Its low environmental impact, reduced volume, and broad availability make liquefied natural gas (LNG) a popular alternative, during this time of transition between traditional fuels and newer options. In the United States, the shale gas revolution has made natural gas a game changer. In this book, we focus on empirical analyses of the natural gas market and its growing relevance worldwide.
| Author | : Apostolos Serletis |
| Publisher | : World Scientific |
| Total Pages | : 304 |
| Release | : 2007-04-27 |
| Genre | : Business & Economics |
| ISBN | : 981447617X |
Download Quantitative And Empirical Analysis Of Energy Markets Book in PDF, ePub and Kindle
Bringing together leading-edge research and innovative energy markets econometrics, this book collects the author's most important recent contributions in energy economics. In particular, the book:• applies recent advances in the field of applied econometrics to investigate a number of issues regarding energy markets, including the theory of storage and the efficient markets hypothesis• presents the basic stylized facts on energy price movements using correlation analysis, causality tests, integration theory, cointegration theory, as well as recently developed procedures for testing for shared and codependent cycles• uses recent advances in the financial econometrics literature to model time-varying returns and volatility in energy prices and to test for causal relationships between energy prices and their volatilities• explores the functioning of electricity markets and applies conventional models of time series analysis to investigate a number of issues regarding wholesale power prices in the western North American markets• applies tools from statistics and dynamical systems theory to test for nonlinear dynamics and deterministic chaos in a number of North American hydrocarbon markets (those of ethane, propane, normal butane, iso-butane, naptha, crude oil, and natural gas)
| Author | : Harry G. Broadman |
| Publisher | : Routledge |
| Total Pages | : 159 |
| Release | : 2016-03-17 |
| Genre | : Business & Economics |
| ISBN | : 131735785X |
Download Natural Gas Markets After Deregulation Book in PDF, ePub and Kindle
Originally published in 1983, Broadman and Montgomery present an agenda for further research into deregulated natural gas markets by relating natural gas production, transmission and distribution with the economic function of contracts and local distribution companies. This work raises fundamental issues that could arise with the deregulation of the natural gas industry and outlines analytical methods that could be used to predict any problems that might arise and possible changes to policy. This title is of interest to students of Environmental Studies and professionals.
| Author | : Michael J. Doane |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2008 |
| Genre | : |
| ISBN | : |
Download Evolution of the U.S. Spot Market for Natural Gas Book in PDF, ePub and Kindle
Federal regulations promoting open-access transportation dramatically altered the organizational structure of the U.S. market for natural gas in the 1980s, generally unbundling the merchant and transport functions of interstate pipelines. An empirical analysis of wellhead spot prices is undertaken to examine the effect of open access on the geographic scope of the spot market. Using monthly spot price data from 1984-91, three statistical tests are applied and compared: price correlations, Granger causality, and co-integration. We find that open access integrated the regional wellhead markets into a national competitive market for natural gas. The effects of unbundling on contracts for natural gas are then investigated. Incentives for long-term contracts between pipelines and producers are shown to be effectively removed by the introduction of competitive buying and selling of gas at the wellhead through open access. Copyright 1994 by the University of Chicago.
| Author | : |
| Publisher | : |
| Total Pages | : 172 |
| Release | : 1983 |
| Genre | : Energy policy |
| ISBN | : |
Download The Natural Gas Market Through 1990 Book in PDF, ePub and Kindle
| Author | : Anne Neumann |
| Publisher | : |
| Total Pages | : 16 |
| Release | : 2006 |
| Genre | : Contracts |
| ISBN | : |
Download Long-term Contracts and Asset Specificity Revisited Book in PDF, ePub and Kindle
In this paper, we analyze structural changes in long-term contracts in the international trade of natural gas. Using a unique data set of 262 long-term contracts between natural gas producers and importers, we estimate the impact of different institutional, structural and technical variables on the duration of contracts. We find that contract duration decreases as the market structure of the industry develops to more competitive regimes. Our main finding is that contracts that are linked to an asset specific investment are on average four years longer than those who are not.
| Author | : Thomas Reinhard Kremser |
| Publisher | : |
| Total Pages | : |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
Download The Convenience Yield Implied in the European Natural Gas Markets - The Impact of Storage and Weather Book in PDF, ePub and Kindle
This paper determines the convenience yield implied in the European natural gas markets and investigates driving factors and according dynamics. For this, we approximate the convenience yield via an option-based approach, in which the convenience yield is determined as the difference between two average floating-strike Asian options, written on the spot and the other on futures contract, respectively. In a second step, we fit an exponential GARCH model to explain the convenience yield via storage and weather, as well as other key driving factors. The empirical analysis reveals distinct results for the impact of storage, which indicates that the release of natural gas storage levels generates considerably volatility. Furthermore, we illustrate that the mixed evidence and the absence of a clear pattern to explain the convenience yield's characteristics underline the transitory state of the European natural gas market.
| Author | : Markos Farag |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2023 |
| Genre | : |
| ISBN | : |
Download Global Natural Gas Market Integration in the Face of Shocks Book in PDF, ePub and Kindle
This paper analyzes the integration of the American, European, and Asian natural gas markets over the period 2016-2022, with a focus on how the demand shock caused by the COVID-19 pandemic and the supply shock caused by geopolitical tensions in the European market affected this integration. We also examine which regional market is leading in reflecting new information and shocks into the market price. Our analysis indicates that the market integration process has been impacted by external shocks, leading to a decrease in the degree of integration between the European and Asian markets. Additionally, we find that the American market is no longer integrated with the other two markets after the supply shock, potentially due to the US's congested and fully utilized LNG infrastructure. Our analysis also shows that the gas price differentials adjust asymmetrically in response to disturbances, suggesting that markets respond differently to positive and negative shocks. Moreover, we show that the lead/lag relationship changes over time and exhibits a dynamic behavior. Finally, we discuss the fundamental changes in the global gas market that align with our empirical results.
| Author | : Sophia Ruester |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2010 |
| Genre | : |
| ISBN | : |
Download Changing Contract Structures in the International Liquefied Natural Gas Market - A First Empirical Analysis Book in PDF, ePub and Kindle
This paper provides an empirical assessment of long-term liquefied natural gas (LNG) supply contracts to determine optimal contract duration. We study the trade-off between contracting costs due to repeated bilateral bargaining and the risk of being bound in an inflexible agreement in uncertain environments. Furthermore, we add to the theoretical discussion an analysis of different dimensions of transaction frequency and their impact on governance choice. Estimation results of a two-stage model show that the presence of high dedicated asset specificity results in longer contracts thus confirming the predictions of transaction cost economics, whereas the need for flexibility reduces contract duration. With increasing bilateral trading experience between the same trading partners, contract duration decreases. We additionally observe that countries heavily reliant on natural gas imports via LNG are willing to forgo some flexibility in favor of supply security. Contracts dedicated to competitive downstream markets on average are shorter than those concluded with customers in non-liberalized import markets.
| Author | : Michael Wator |
| Publisher | : |
| Total Pages | : |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
Download Long-Term Price Forecasts for European Crude Oil and Natural Gas Markets Book in PDF, ePub and Kindle
This master's thesis investigates the volatility dynamics of the European crude oil benchmark Brent and the European natural gas trading hub National Balancing Point (NBP). The empirical analysis is based on daily prices and returns ranging from January 2000 to March 2014 for Brent and from September 2007 to March 2014 for NBP. This thesis provides background information on the European crude oil and natural gas markets including factors influencing oil and gas prices and the historical development of these two markets. The empirical analysis of the daily prices and returns reveals profound information on the statistical properties and on the factors influencing Brent and NBP prices during the sample period. We employ three univariate and two multivariate GARCH models. The simple GARCH and two of its asymmetric extensions, the TGARCH and EGARCH are employed in the univariate framework, whereas the Constant Conditional Correlation (CCC) and the diagonal BEKK specification are used in the multivariate setting. We find strong evidence of volatility persistence of Brent and NBP returns. The volatility is found to react more to unexpected negative returns than to positive ones, signifying the leverage effect of negative shocks. Furthermore, there exists a limited positive correlation among the volatilities of Brent and NBP, where Brent shows a stronger influence on NBP.
