An Optimization Model of the European Natural Gas System

Alexios Skarakis and Athanasios Dagoumas
Additional contact information
Alexios Skarakis: Energy and Environmental Policy, School of Economics, Business and International Studies, University of Piraeus, PC18532, Piraeus, Greece
Athanasios Dagoumas: Energy and Environmental Policy, School of Economics, Business and International Studies, University of Piraeus, PC18532, Piraeus, Greece

International Journal of Energy Economics and Policy, 2017, vol. 7, issue 6, 48-60

Abstract: The European Commission has identified the Energy Union, as one of its major priorities. This aims to deliver secure, climate-friendly and affordable energy to the European citizens. Towards implementing those goals, the European Commission is working towards diversifying routes and resources, and implementing the target model for the gas and electricity markets. This paper presents an optimization model of the European natural gas system. The model identifies the natural gas suppliers mix for Europe and for each Member State. The model, being an optimization model, provides the economically optimum energy mix, subject to the technical and policy constraints of the gas transmission system. The model can also provide useful insights to the decision makers and market participants on the needed critical infrastructure. Model results show that the Russian natural gas is expected to have a prominent role in the EU, even by imposing energy security constraints. The incorporation in the model of the strategy of the companies, as well as the reserved capacity in the interconnections in each member state, would provide a more robust identification of the energy mix, the wholesale prices and the needed infrastructure.

Keywords: Natural Gas; Optimization; pipelines; Europe. (search for similar items in EconPapers)
JEL-codes: C61 L95 Q4 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.econjournals.com/index.php/ijeep/article/download/5649/3412 (application/pdf)
https://www.econjournals.com/index.php/ijeep/article/view/5649/3412 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2017-06-7

Access Statistics for this article

International Journal of Energy Economics and Policy is currently edited by Ilhan Ozturk

More articles in International Journal of Energy Economics and Policy from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().