Filters
Results 1 - 1 of 1
Results 1 - 1 of 1.
Search took: 0.017 seconds
Abada, Ibrahim; Massol, Olivier
IFP Energies nouvelles - IFP School - Centre economie et Gestion, 228-232, av. Napoleon Bonaparte, F-92852 Rueil-Malmaison Cedex (France)2011
IFP Energies nouvelles - IFP School - Centre economie et Gestion, 228-232, av. Napoleon Bonaparte, F-92852 Rueil-Malmaison Cedex (France)2011
AbstractAbstract
[en] In this paper, we analyze the impact of uncertain disruptions in gas supply upon gas retailer contracting behavior and consequent price and welfare implications in a gas market characterized by long-term gas contracts using a static Cournot model. In order to most realistically describe the economical situation, our representation divides the market into two stages: the upstream market that links, by means of long-term contracts, producers in exporting countries (Russia, Algeria, etc.) to local retailers who bring gas to the consuming countries to satisfy local demands in the downstream market. Disruption costs are modeled using short-run demand functions. First we mathematically develop a general model and write the associated KKT conditions, then we propose some case studies, under iso-elasticity assumptions, for the long-short-run inverse-demand curves in order to predict qualitatively and quantitatively the impacts of supply disruptions on Western European gas trade. In the second part, we study in detail the German gas market of the 1980's to explain the supply choices of the German retailer, and we derive interesting conclusions and insights concerning the amounts and prices of natural gas brought to the market. The last part of the paper is dedicated to a study of the Bulgarian gas market, which is greatly dependent on the Russian gas supplies and hence very sensitive to interruption risks. Some interesting conclusions are derived concerning the necessity to economically regulate the market, by means of gas amounts control, if the disruption probability is high enough. (authors)
Primary Subject
Secondary Subject
Source
Apr 2011; 37 p; Les cahiers de l'economie - no. 79; 22 refs.; Available from the INIS Liaison Officer for France, see the 'INIS contacts' section of the INIS website for current contact and E-mail addresses: http://www.iaea.org/INIS/contacts/
Record Type
Miscellaneous
Report Number
Country of publication
Reference NumberReference Number
INIS VolumeINIS Volume
INIS IssueINIS Issue