Freedom Gas to Europe: Scenarios Analyzed Using the Global Gas Model
| Autor: | Ruud Egging-Bratseth, Victoria Czempinski, Franziska Holz |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
Commodity
Numerical modeling Q48 Energy policy Interconnectedness Natural gas 0502 economics and business Liquefied natural gas Economics ddc:330 Energy market L95 Industrial organization USA 040101 forestry L13 050208 finance business.industry 05 social sciences Q37 04 agricultural and veterinary sciences Energy sector Q34 Europe C61 0401 agriculture forestry and fisheries Business Management and Accounting (miscellaneous) business Finance |
| Zdroj: | Research In International Business and Finance |
| Popis: | State-of-the-art, open access numerical modeling of imperfectly competitive energy markets offers a sound and transparent way to address topical research questions in energy and commodity markets. We use an open access equilibrium model, the Global Gas Model (GGM), and sector-specific, politically motivated scenarios to investigate the prospects for sales of liquefied natural gas (LNG) from the U.S. into the European energy market. We discuss the risks and opportunities for U.S. LNG and derive implications for policy, business, and finance in the energy sector. We find that Europe is not an attractive market for US LNG in the base case and in scenarios of moderate support of U.S. LNG flows into Europe. In these scenarios, Asia offers higher prices for US LNG and draws substantially higher import volumes. Our modeling results show that the interconnectedness of global gas markets due to an abundance of LNG import capacity in Europe and other regions—particularly Asia—allows for adjustments to global trade patterns that mitigate the consequences of regional disturbances. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
|