Download or read book Measuring the Effects of Natural Gas Pipeline Constraints on Regional Pricing and Market Integration written by Roger Avalos and published by . This book was released on 2014 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Pipeline Constraints in Wholesale Natural Gas Markets written by Roger George Avalos and published by . This book was released on 2012 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural gas markets in the United States depend on an extensive network of pipelines to transport gas from production fields to end users. While these pipelines are essential for the operation of natural gas markets, their capacity sets a physical limit on the quantity of gas that can be moved between regions. Taking advantage of a rich data set of daily pipeline capacities and flows, this thesis tests the effects of binding pipeline constraints directly. It is found that these constraints affect the citygate prices for the Florida and Southern California markets. The Law of One Price is tested using cointegration techniques and found to hold when pipeline flows are not constrained, and break down during constrained periods. It is also shown that cointegration techniques may not identify bottlenecks between regions when bottlenecks are not severe, or when they only occur for limited periods of time. Contrary to earlier results, Southern California markets are found to be integrated with the national market. Cointegration tests using data from 14 market points suggest that regional wholesale natural gas markets in the United States are generally integrated into a national market.

Download or read book Is the U S Natural Gas Market Integrated Or Segmented a Dynamic Study of Regional Natural Gas Prices written by Hayette Gatfaoui and published by . This book was released on 2019 with total page 3 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considering U.S. natural gas prices at one hub and several city gates, we investigate the structural evolution of natural gas prices (i.e. law of one price), and the potential convergence or divergence of gas prices across the country. First, we extract the latent common price component, which describes the evolution of the fundamental natural gas price. Second, we gauge if U.S. regional natural gas prices follow the law of one price. Our findings confirm the difference between West and East natural gas price behaviors, but also highlight the discrepancies between West and other regional natural gas prices. Finally, we measure the distance of hub and city gate prices relative to the fundamental price component. The proximity of regional gas prices with the fundamental gas price component supports market integration while a gap between these prices advocates market segmentation. We show that the U.S. natural gas market shifts towards a more integrated structure after august 2004. Such shift results from both the delayed impact of recent FERC reforms and the development of interstate pipelines. However, the development and improvement of natural gas infrastructures still need enforcement to support intrastate pipeline-deficient regions.

Download or read book The Relationship Between Industrial Sales Prices and Concentration of Natural Gas Pipelines written by John Richard Morris and published by . This book was released on 1988 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book China s Gas Development Strategies written by Shell International B.V. and published by Springer. This book was released on 2017-11-23 with total page 515 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is open access under a CC BY 4.0 license. This book examines how China can increase the share of natural gas in its energy system. China’s energy strategy has global ramifications and impact, and central to this strategy is the country’s transition from coal to gas. The book presents the culmination of a two-year collaboration between the Development Research Center of the State Council (DRC) and Shell. With the Chinese government’s strategic aim to increase the share of gas in the energy mix from 5.8% in 2014 to 10% and 15% in 2020 and 2030 respectively, the book outlines how China can achieve its gas targets. Providing both quantifiable metrics and policy measures for the transition, it is a much needed addition to the literature on Chinese energy policy. The research and the resulting recommendations of this study have fed directly into the Chinese government’s 13th Five-Year Plan, and provide unique insights into the Chinese government and policy-making. Due to its global impact, the book is a valuable resource for policy makers in both China and the rest of the world.

Download or read book Energy and Water Development Appropriations for 2006 Secretary of Energy Science renewable energy and nuclear energy written by United States. Congress. House. Committee on Appropriations. Subcommittee on Energy and Water Development and published by . This book was released on 2005 with total page 670 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Natural Gas Market Applications of Multi agent Optimization written by Baturay Calci and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today's energy climate in the United States (U.S.), it is hard to overestimate the importance of understanding the natural gas markets and how they interact with other energy systems in the light of the facts that more electricity is generated from natural gas than any other source1, natural gas is used by the most households for residential heating2, and current natural gas production levels in the U.S. are at an all time high3. There has been a lively discussion both in the academic literature and in the energy industry as to what the role of natural gas will be in our energy climate going forward, or whether it would be a bridge fuel to a carbon neutral future. To this end, many researchers have developed various models to understand natural gas systems where multiple agents such as natural gas producers, pipeline operators, and liquefied natural gas (LNG) exporters interact, sometimes with conflicting objectives. Models have also been developed to represent how natural gas players interact with the electricity markets to assess the implications of various scenarios. Two of the many approaches used in these contexts are mixed complementarity problem-based modeling and bilevel programming. The former represents a system where all players are in an equilibrium, simultaneously maximizing their profits. In the latter, players interact in a sequential manner where a follower optimizes based on the actions of the leader, and the leader optimizes knowing its actions will affect the follower's decisions, which in turn affect the leader's own objective. This dissertation focuses on natural gas market modeling applications between different players using these two modeling paradigms. It also presents novel approaches to such models by rigorously working on incorporation of these approaches into optimization problems, and conducts insightful analyses on the future of natural gas and electricity markets and infrastructure under various scenarios. Chapter 2 of this dissertation builds a natural gas mixed complementarity model for North American markets that incorporates endogenous capacity decisions of six strategically interacting players in nine regions that also trade with two LNG demand markets. This model is solved by coupling Karush-Kuhn-Tucker (KKT) conditions of all underlying optimization problems with market clearing constraints, which collectively represent the equilibrium of the system. After parameterizing this model using publicly available sources, we run scenarios to assess how North American natural gas markets and infrastructure evolve under different levels of LNG demand, and restrictions on where new LNG infrastructure can be built. Our findings in this chapter are as follows. West coast of North America is well-positioned to supply the rising LNG demand by Asia/Pacific region with the help of scaled up natural gas production. When such infrastructure is not allowed on this coast, North American LNG exports largely shift to other regions rather than suffering an overall decline, making the total export volume robust to such infrastructure restrictions. We also find that high LNG demand puts upward pressure on regional prices in North America. In Chapter 3, the focus is on adding a learning-by-doing (LBD) component to mixed complementarity problems (MCPs) to represent endogenous technological change that allows the unit cost of production to decrease as a function of cumulative experience up until that point. As this component is known to introduce non-convexity in the formulation, we first develop a way of incorporating LBD into an optimization model so that convexity is preserved. Accordingly, corresponding KKT conditions remain necessary and sufficient for optimality. This allows us to incorporate LBD into larger MCP model. We show that under a monopolistic or oligopolistic market assumption, incorporating LBD into the cost of the revenue-generating activity along with a representation of a high enough initial knowledge stock results in a convex optimization problem. We provide closed-form expressions for the convexity-ensuring initial knowledge stock for two-period problems, and provide numerical approaches for ensuring convexity in generalized T-period problems. We then apply this formulation to the liquefier's problem in a simplified version of the natural gas market model presented in Chapter 2. Our results demonstrate that learning in liquefaction leads to increased LNG exports and puts an upward pressure on regional prices in North America. We also show that this effect gets stronger in the presence of higher learning rates and learning spillovers. Chapter 4 presents a bilevel model to represent the interaction between a profit maximizing natural gas producer in the upper-level and an aggregated electric utility solving a capacity expansion problem in the lower-level. We replace the lower-level problem with its KKT conditions to obtain a single-level problem in the form of a mathematical program with complementarity constraints (MPCC). We then convert this MPCC to a mixed integer linear program by replacing these KKT conditions with their disjunctive reformulations and linearizing the bilinear terms in the objective function by exploiting the strong duality condition of the lower-level problem. We analyze three groups of different scenarios, two regarding carbon policies, and one on the effects of strategic upper-level pricing. Our results show that carbon tax and carbon capture credits can result in non-monotonic effects in producer revenues and natural gas prices in this particular market context. We also observe that the effects of carbon capture credits can spill over to technologies without carbon capture due to strategically lowered gas prices, which enables the producer to induce investments in natural gas power plants with carbon capture and storage in the lower-level. Finally, we find that upper-level strategic pricing can lead to vastly different results in the decisions of the lower-level player, while the omission of strategic pricing from the model leads to both lower revenue for the producer and higher costs for the utility. Lastly, Chapter 5 concludes the dissertation by summarizing research contributions, key research findings, and presenting future research directions

Download or read book Energy and Water Development Appropriations for 2006 written by United States. Congress. House. Committee on Appropriations. Subcommittee on Energy and Water Development and published by . This book was released on 2005 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Price Discovery in the Natural Gas Markets of the United States and Canada written by Kyle Olsen and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The dynamics of the U.S. and Canada natural gas spot markets are evolving through deregulation policies and technological advances. Economic theory suggests that these markets will be integrated. The key question is the extent of integration among the markets. This thesis characterizes the degree of dynamic integration among 11 major natural gas markets, six from the U.S. and five from Canada, and determines each individual markets' role in price discovery. This is the first study to include numerous Canadian markets in a North American natural gas market study. Causal flows modeling using directed acyclic graphs in conjunction with time series analysis are used to explain the relationships among the markets. Daily gas price data from 1994 to 2009 are used. The 11 natural gas market prices are tied together with nine long-run co-integrating relationships. All markets are included in the co-integration space, providing evidence the markets are integrated. Results show the degree of integration varies by region. Further results indicate no clear price leader exists among the 11 markets. Dawn market is exogenous in contemporaneous time, while Sumas market is an information sink. Henry Hub plays a significant role in the price discovery of markets in the U.S. Midwest and Northeast, but little to markets in the west. The uncertainty of a markets' price depends primarily on markets located in nearby regions. Policy makers may use information on market integration for important policy matters in efforts of attaining efficiency. Gas traders benefit from knowing the price discovery relationships.

Download or read book Energy and Water Development Appropriations for 2004 written by United States. Congress. House. Committee on Appropriations. Subcommittee on Energy and Water Development and published by . This book was released on 2003 with total page 716 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book 108 1 Hearings Energy And Water Development Appropriations For 2004 Part 5 March 5 2003 written by and published by . This book was released on 2004 with total page 704 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Floating LNG Update written by Brian Songhurst and published by . This book was released on 2019 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Energy and Water Development Appropriations for 2004 Secretary of Energy Nuclear Regulatory Commission written by United States. Congress. House. Committee on Appropriations. Subcommittee on Energy and Water Development and published by . This book was released on 2003 with total page 708 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Deliverability on the Interstate Natural Gas Pipeline System written by and published by . This book was released on 1998 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Road from Kyoto written by United States. Congress. House. Committee on Science and published by . This book was released on 1999 with total page 982 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Future of Natural Gas written by and published by . This book was released on with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Natural Gas Markets After Deregulation written by Harry G. Broadman and published by Routledge. This book was released on 2016-03-17 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1983, Broadman and Montgomery present an agenda for further research into deregulated natural gas markets by relating natural gas production, transmission and distribution with the economic function of contracts and local distribution companies. This work raises fundamental issues that could arise with the deregulation of the natural gas industry and outlines analytical methods that could be used to predict any problems that might arise and possible changes to policy. This title is of interest to students of Environmental Studies and professionals.