scholarly journals THE IMPACT OF UKRAINE'S FINANCIAL COOPERATION WITH THE IMF ON THE REFORMATION OF THE ENERGY MARKET AND PRICE POLICY IN THE FIELD OF GAS SUPPLY

10.23856/3004 ◽  
2018 ◽  
Vol 30 (5) ◽  
pp. 52-59
Author(s):  
Iryna Vasylchuk ◽  
Iryna Yegorova ◽  
Natalia Suzdal
Keyword(s):  
Price Policy ◽  
Energy Market ◽  
The European Union ◽  
Gas Industry ◽  
Financial Cooperation ◽  
The Reformation ◽  
Gas Market ◽  
The Impact ◽  
The International Monetary Fund ◽  
Gas Supply

The research identifies necessity to implement the requirements established by the International Monetary Fund, as the need for a new tranche from the fund may lead to the implementation of uneffective policy in the gas market of Ukraine. The current competitive environment in the gas market of Ukraine has been analyzed. The article estimates the expediency of increasing gas prices in Ukraine to the market level and the possible effects of such solution for the retail customers. The comparison of the price environment on the markets of the European Union and the domestic market is carried out. Authors determine forecasted volume of the country's capacities in the gas industry and offer possible ways for the future development of the gas industry of Ukraine.

New conditions of competition in the European gas market

2020 ◽  
Vol 22 (5) ◽  
pp. 84-92
Author(s):  
PETER ILIEV PETROV ◽  
Keyword(s):  
Natural Gas ◽  
Liquefied Natural Gas ◽  
The European Union ◽  
Practical Application ◽  
Gas Industry ◽  
Natural Gas Market ◽  
Gas Market ◽  
The Impact ◽  
Different Parts

This article aims to discuss the process of liberalization of the natural gas market in the European Union (EU). The purpose of this research is to show the fundamental characteristics of the gas industry, the process of reconstruction of the European gas market, taking into account the ongoing changes in the context of geopolitical, ecological, and technological determinants of the international and European energy and gas sector. The article describes the structure of the modern European natural gas market, compares the competitiveness of gas transportation methods through trunk pipelines and gas tankers transporting liquefied natural gas. The article examines the impact of the increase in the supply of liquefied natural gas on the situation with the turnover of gas trade in the European market, in particular, how it affects the delivery of hydrocarbons and the growth in the scale of exchange trading. The article examines the Groningen model, which influences the development of gas exchange trading and natural gas trading through long-term contracts. The evolution of the European policy in the field of natural gas, the established strictly regulated version of the “well-functioning” gas market, remains as one too political and unstable experiment. The importance of natural gas changes all the time, depending on economics, the security of deliveries, and sustainability. Furthermore, the focus on that importance and its practical application vary in different parts of Europe. The conclusion is made that a “well-functioning” gas market is characterized by the presence of a large number of suppliers, and competition leads to a noticeable decrease in prices for natural gas. However, in the current situation, the demand for gas turns out to be unstable, and difficult conditions for pipeline supplies are emerging for traditional suppliers. In the long term, the “well- functioning” gas market scheme will remain highly politicized and unstable, with increased competition in supply and a downward trend in gas prices. Thus, the European gas market is transforming towards the formation of a “buyer’s market”.

The Impossible Transplant of the EU Emissions Trading Scheme: The Challenge of Energy Market Regulation

2016 ◽  
Vol 6 (1) ◽  
pp. 59-85 ◽  
Author(s):  
Anatole Boute
Keyword(s):  
Emerging Economies ◽  
Emissions Trading ◽  
Energy Market ◽  
Market Regulation ◽  
The European Union ◽  
Emissions Trading Scheme ◽  
Trading Scheme ◽  
The Cost ◽  
The Impact ◽  
The Eu

AbstractFollowing the European Union (EU) experience, an increasing number of countries are establishing an Emissions Trading Scheme (ETS). The EU ETS often serves as a ‘model’ despite fundamental differences in the receiving environment. In the EU liberalized energy markets, carbon prices are intended to raise the cost of carbon-intensive energy and thereby stimulate cleaner alternatives. In contrast, many emerging economies continue to regulate energy investments and prices, which may insulate consumers and producers from the impact of an ETS. To avoid this risk, energy economists advocate EU-style energy market reforms as a prerequisite to the introduction of the ETS concept abroad. By focusing on the cases of China, Kazakhstan, and Russia, this article highlights the limits on the exportation of the EU liberalization model and argues that, instead of energy reform, the ETS must be reconceptualized as a mechanism that integrates the regulated energy market paradigm in emerging economies.

scholarly journals BREXIT AND THE UK OIL & GAS SECTOR

2016 ◽  
Vol 28 ◽  
pp. 9-15 ◽  
Author(s):  
John C LaMaster ◽  
Marc Hammerson
Keyword(s):  
Early Stage ◽  
The European Union ◽  
Medium Term ◽  
Short Article ◽  
Gas Industry ◽  
Free Movement Of Goods ◽  
Gas Market ◽  
Scottish Independence ◽  
The Uk ◽  
Oil Gas

On 23 June 2016, the UK electorate voted in a referendum to leave the European Union (EU). This outcome is expected to have far-reaching consequences for UK industry, including the oil & gas sector. These include: short- to medium-term uncertainty; potential changes to legislation affecting the downstream industry; restrictions on the free movement of goods and people; effects on the gas market; and renewed impetus for Scottish independence. It is impossible at this early stage to reach any definitive conclusions regarding the consequences of Brexit to the UK oil & gas industry, but this short article will discuss certain issues that are likely to be of interest and relevance.

scholarly journals PLOTTING A DIAGRAM OF NATURAL GAS INTERCHANGEABILITY FOR THE ENERGY MARKET OF GEORGIA

World Science ◽  
2020 ◽  
Author(s):  
Dimitri Namgaladze ◽  
Tornike Kiziria ◽  
Lena Shatakishvili ◽  
Tamaz Ghvanidze
Keyword(s):  
Natural Gas ◽  
Calorific Value ◽  
Energy Market ◽  
Gas Industry ◽  
Natural Gases ◽  
Cost Of Energy ◽  
Gas Market ◽  
Wobbe Index ◽  
The Cost ◽  
First Time

The increase in the cost of energy and the appearance of gases of various qualities led to the fact that calculations in the gas industry began to be made by measuring thermal energy.  To this day, in Georgia, the calculation of the amount of natural gas when paying for the used gas is in cubic meters.  As for the study of processes and parameters in the Georgian gas sector, it turned out that these processes are clearly stochastic.  Therefore, the purpose of the work is to develop criteria for the interchangeability of natural gas, in particular, a diagram of the interaction between the Wobbe index in total proportions of propane and nitrogen equivalent for the Georgian gas market, based on stochastic processes.  Thus, for the first time, an original methodology for plotting the Wobbe Index (calorific value) of interchangeable natural gases supplied to Georgia was developed.

scholarly journals Assessing the Impact of Investments in Cross-Border Pipelines on the Security of Gas Supply in the EU

Energies ◽  
2020 ◽  
Vol 13 (11) ◽  
pp. 2913
Author(s):  
Yassine Rqiq ◽  
Jesus Beyza ◽  
Jose M. Yusta ◽  
Ricardo Bolado-Lavin
Keyword(s):  
Natural Gas ◽  
Gas Production ◽  
Optimization Approach ◽  
The European Union ◽  
Cross Border ◽  
Gas System ◽  
Natural Gas System ◽  
The Impact ◽  
Gas Supply ◽  
The Eu

The European Union (EU) is highly dependent on external natural gas supplies and has experienced severe gas cuts in the past, mainly driven by the technical complexity of the high-pressure natural gas system and political instability in some of the supplier countries. Declining indigenous natural gas production and growing demand for gas in the EU has encouraged investments in cross-border transmission capacity to increase the sharing of resources between the member states, particularly in the aftermath of the Russia–Ukraine gas crisis in January 2009. This article models the EU interconnected natural gas system to assess the impact of investments in the gas transmission network by comparing the performance of the system for scenarios of 2009 and 2017, using a mathematical optimization approach. The model uses the technical data of the infrastructures, such as production, storage, regasification, and exchange capacity through cross-border pipelines, and proposes an optimal collaborative strategy which ensures the best possible coverage of overall demand. The actual peak demand situations of the extreme cases of 2009 and 2017 are analyzed under hypothetical supply crises caused by geopolitical or commercial disputes. The application of the proposed methodology leads to results which show that the investments made in this system do not decongest the cross-border pipeline network but improve the demand coverage. Countries such as Spain and Italy experience a lower impact on gas supply due to the variety of mechanisms available to cover their demand. Furthermore, the findings prove that cooperation facilitates the supply of demand in crisis situations.

VICTORIAN GAS MARKET-OPPORTUNITIES FOR PRODUCERS

1997 ◽  
Vol 37 (1) ◽  
pp. 755
Author(s):  
C.P. Demarte
Keyword(s):  
Gas Production ◽  
Market Place ◽  
Supply Contracts ◽  
Gas Industry ◽  
Market Growth ◽  
Field Development ◽  
Market Opportunities ◽  
Gas Market ◽  
Gas Supply

This paper addresses opportunities for producers in the Victorian gas market arising from the ongoing reform of the Australian gas industry. Much of the impetus of the change has occurred in Victoria but to date there has been little evidence of the benefit of market reform to producers. This is expected to change.Until recently, Esso/BHPP had a secure hold on gas production into the Victorian market. The renegotiation of their gas supply agreement with Gas and Fuel has created opportunities for limited production from new producers in the short term and significant market options in the long term.Gas marketing companies are preparing to change the way they do business. Rigid long-term gas supply contracts will be balanced with alternative arrangements with producers such as financing of field development, equity investment in projects, alliances, commodity exchanges and the use of underground gas storage and LNG.The formation of a spot market for gas will allow a transparent market place to evolve where forward physical and paper transactions can take place. Trading of gas futures and options will provide a mechanism for producers to take up any risk position that meets their corporate strategy.In the light of market growth forecasts, flexible supply arrangements and market restructure, the potential for supply of natural gas by producers into the Victorian market is considerable.

Global gas market oversupply will persist in 2016

2016 ◽  
Keyword(s):  
Fossil Fuels ◽  
Oil And Gas ◽  
International Energy Agency ◽  
Energy Agency ◽  
Gas Industry ◽  
Content Type ◽  
Market Outlook ◽  
Gas Market ◽  
Oil And Gas Companies ◽  
The Impact

Subject Gas market outlook. Significance The price of spot liquefied natural gas (LNG) fell at end-February to the lowest level since July 2009. Long-term forecasts for global gas demand have been downgraded by the International Energy Agency (IEA) and by oil and gas companies, such as BP and ExxonMobil. US demand is rising, while production growth appears to have flattened. However, the impact on prices will be limited in 2016. Impacts Gas companies' revenues will be pressured, with pipeline suppliers in Europe discounting prices to compete with LNG imports. With uncertain prospects for gas in power generation, companies will focus on new opportunities in transport. Gas industry groups will seek carbon regulations that support gas rather than penalise fossil fuels to the advantage of renewables.

COVID-19 and the global energy market: implications for international and domestic policies in the Arab Gulf states

2020 ◽  
Vol 10 (4) ◽  
pp. 475-480
Author(s):  
Steven Wright
Keyword(s):  
Public Policy ◽  
Oil And Gas ◽  
The United States ◽  
Energy Market ◽  
The European Union ◽  
Gulf Region ◽  
Global Energy ◽  
United States Dollar ◽  
Gulf States ◽  
The Impact

For the Gulf states, the COVID-19 pandemic has acted as an accelerant to systemic fiscal challenges the states were projected to face. These longer-term fiscal challenges were a result of fundamental shifts in the global energy market towards lacklustre demand, oversupply of oil and gas, and depressed prices. Moreover, the shift towards carbon -neutrality and investment in renewables by key regions such as the European Union and China, have added to the long-term outlook on fossil fuel demand. This article examines such trends and concludes that the Gulf region is facing a looming fiscal cliff, whereby public policy within the Gulf states will necessarily reflect the three main areas of taxation, austerity and increased activity in the bond market to raise liquidity. Such trends have been made more pronounced by the pandemic. It is argued that in the context of rising debt, the immediate challenge identified for these states will be their peg to the United States Dollar. Such fiscal conditions will necessitate a drive by these states to attract foreign direct investment, and greater engagement with China through the Belt and Road Initiative is identified as a likely outcome. Therefore, this article concludes that the impact of the pandemic will hasten a shift in both public policy, state-society-relations, and in the international relations of the region.

scholarly journals Occupancy Tax Within Tax Models of Nautical Tourism in the Mediterranean

Pomorstvo ◽  
2018 ◽  
Vol 32 (2) ◽  
pp. 173-181
Author(s):  
Luka Vukić ◽  
Pero Vidan ◽  
Eli Marušić
Keyword(s):  
Price Policy ◽  
Small Scale ◽  
The European Union ◽  
Individual Country ◽  
Eu Countries ◽  
Revenue Growth ◽  
Mediterranean Countries ◽  
The Mediterranean ◽  
The Individual ◽  
The Impact

The existing tax models in nautical tourism, different for an individual country, contain various additional taxes already analyzed in scientific researches, while the characteristics and impacts of occupancy tax have been left neglected. The aim of the paper is to examine the impact of occupancy tax on the competitiveness of the price policy in nautical tourism within the Mediterranean countries, by performing the comparative analysis of tax models between the European Union member states and other Mediterranean countries. The results obtained have shown different and hardly comparable tax models, determined by the strategic orientation of the individual country in nautical tourism. The charges of the representatives of two target groups, the occupancy tax prices in Montenegro and similar models in Croatia and Greece have been compared, where the research findings indicated Montenegro as more competitive than the two other EU countries in all categories of the analysis. The obtained results have neglected other destinations comparative advantages mainly favorable to the EU countries having excellent development perspectives. The small scale participation of the occupancy tax in the overall tax model should not allow long-term outflow of the users in the European Union’s nautical tourism due to short-term revenue growth.

Sign in / Sign up

Export Citation Format

Share Document