A paper published in April 2007 questioned the continued rationale of the linkage of Continental European long term contract gas prices to oil product prices.1 It concluded that the logic of linking gas prices to those of (mainly) oil products had largely disappeared in the major European gas markets. In the following two years, energy […]
This paper examines the rationale for the continuing linkage of European gas prices to oil product prices. With the passage of liberalisation and competition legislation by the EU and national governments, starting in the late 1990s, it was expected that prices would be determined by gas to gas competition, as happened in both North America […]
Recent weeks have seen an outburst of target-setting on climate change, most recently in the UK Government’s new climate change strategy. But experience shows that governments’ track record of delivery in this area is very poor – nearly all climate change targets have been missed. In this Comment, Malcolm Keay suggests that to make targets […]
President Putin’s comment that Russia will study the possibility of creating a “gas-OPEC” created a wave of newspaper headlines. Jonathan Stern argues that gas-OPEC is a distraction from much more important issues which have recently emerged in gas trade between Russia and Europe.
In this comment, David Buchan looks at the Commission’s recently published energy policy proposals. Amid growing concern about climate change and energy security, the time may be ripe for a European energy policy but the Commission is likely to find it difficult to achieve consensus on its proposals from the member states. Its main powers […]
In 2006, security of European gas supply became a very topical subject following the cuts in Russian supplies to Ukraine in the first days of the year which had the consequence of restricting the availability of supplies to some European countries. Much of the subsequent discourse has been concerned with ‘the arithmetic of gas security’ […]
In this comment, Dr. Shamil Midkhatovich Yenikeyeff looks at recent developments surrounding Russia’s G8 presidency which reveal that this international club is not capable of bringing energy producing and consuming nations closer together.
The Interconnector pipeline became operational in October 1998, providing a bi-directional link between the gas networks of the UK and mainland Europe. The 235 km line runs from Bacton in Norfolk to Zeebrugge in north west Belgium and has the capacity to transport 20 billion cubic metres per annum (bcm/y) in UK export mode and […]
Why do we need a study on gas demand? First, because energy forecasts predict natural gas to be the fastest growing primary energy source in Europe in the next 2−3 decades. Gas demand forecasts commonly show optimistic trends increasing gently or steeply, as shown in Figure 1. The reasons for this expected ‘dash for gas’ […]
The majority of aggregate demand studies, whether concerned with energy or other goods, are based on the notion of a stable long-run demand function, which implies the existence of a unique equilibrium demand for any given relative price and income level. Given this static relationship, the effects of any price (or income) change will, by […]
Chinese NOCs’ share in overseas production reached 1.7 mb/d & oil-backed loans generated estimated 1.4-1.6 mb/d… https://t.co/hqvvxZTFr3
New publication: Room for cynicism and hope in Russia’s deal with OPEC https://t.co/SqyAK5MzDC
New publication: China’s loans for oil: asset or liability? https://t.co/FZQCt72lzM