In this paper, we discuss potential developments of the world natural gas industry at the horizon of 2030. We use the World Gas Model (WGM), a dynamic, strategic representation of world natural gas production, trade, and consumption between 2005 and 2030. We specify a “base case” which defines the business-as-usual assumptions based on forecasts of the world energy markets. We then analyze the ...

Structural changes in the European natural gas market such as liberalization, increasing domestic demand, and increasing import dependency have triggered new attempts to model these markets accurately. In this paper, we propose an exhaustive model of the European natural gas supply including the possibility of strategic behaviour of the agents along the value-added chain. We structure it as a t...

An important decision in the development of a mixed oil and natural gas field is whether to produce or re-inject the natural gas. There is a trade-off between the income from the sale of natural gas and the higher oil production obtained from re-injection. We consider the optimal timing problem of when to stop natural gas injection for a set of offshore petroleum fields using a real options app...

Using a center of gravity model and GIS software, we measured how China’s energy production and consumption centers changed (positions, movements, distances, and rates) from 1997 to 2009, thereby revealing regional differences in the relationship between supply and demand. We found that the centers of gravity for raw coal consumption, crude oil production and consumption, and electricity produc...

Recent increases in natural gas reserve estimates and advances in shale gas technology make natural gas a fuel with good prospects to serve a bridge to a low-carbon world. Russia is an important energy supplier as it holds the world largest natural gas reserves and it is the world’s largest exporter of natural gas. Energy was one of the driving forces of Russia’s recent economic recovery from t...

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 in...