InterFuel Competition as a Factor in the Evolution of Natural Gas Pricing in Europe

S. L. Komlev and D. A. Chapaikin ()
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S. L. Komlev: Directorate of OOO Gazprom Export
D. A. Chapaikin: Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences

Studies on Russian Economic Development, 2023, vol. 34, issue 5, 609-617

Abstract: Abstract The exceptionally high volatility of exchange prices on European trading floors reduces the investment attractiveness of the gas industry. The authors of the article attribute this volatility to the entry of the European gas market into a period of unsteady development, characterized by growing volumes of nontargeted LNG with their role destabilizing the market. The article highlights several successive stages in the transformation of natural gas pricing mechanisms. The historical change in pricing models has been shown through the prism of interfuel competition in the markets. An up-to-date quantitative analysis of the dependence of gas prices on coal and oil prices has been carried out, reflecting the described periods. A qualitative forecast of gas price volatility corridors in the medium and long term has been proposed.

Keywords: energy market; natural gas; LNG; pricing; interfuel competition; oil; coal; gas on gas competition; gas on substitute competition; price forecasting (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1134/S1075700723050076

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