Natural Gas Market Modeling

Steven A. Gabriel, Antonio J. Conejo, J. David Fuller, Benjamin F. Hobbs and Carlos Ruiz
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Steven A. Gabriel: University of Maryland
Antonio J. Conejo: University of Castilla – La Mancha
J. David Fuller: University of Waterloo
Benjamin F. Hobbs: The Johns Hopkins University
Carlos Ruiz: European Foundation for New Energy – EDF École Centrale Paris and Supélec

Chapter Chapter 10 in Complementarity Modeling in Energy Markets, 2013, pp 433-476 from Springer

Abstract: Abstract Natural gas is a key fuel in energy markets worldwide. It is produced from either onshore or offshore wells, processed to remove impurities, and then transported by either pipeline in gaseous form or cooled to about -260 degrees F (about -160 degrees C) and then transported as liquefied natural gas (LNG) to destinations around the world. The main consuming sectors that use it are residential, commercial, industrial, electric power, and to some extent transportation. At present, the world has abundant gas supplies. According to [52], the global mean projected remaining recoverable resources is 16,200 trillion cubic feet (Tcf) or 150 times the current annual global consumption. About 9,000 Tcf is gauged to be economically available at less than or equal to $4 per million British Thermal Units (Btu) [52].

Keywords: Spot Market; Inverse Demand Function; Generalize Nash Equilibrium; Market Agent; Spot Sale (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1007/978-1-4419-6123-5_10

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