The Economics of Natural Gas Storage

1. Front Matter

   Pages i-xii

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2. Gas Storage in Europe: Toward a Market-Oriented Approach

   • Anna Cretì

   Pages 1-12

3. Expected Vs. Observed Storage Usage: Limits to Intertemporal Arbitrage

   • Anne Neumann, Georg Zachmann

   Pages 13-29

4. Natural Gas Storage and Market Power

   • Edmond Baranes, François Mirabel, Jean-Christophe Poudou

   Pages 31-54

5. The Regulation of Access to Gas Storage

   • Alberto Cavaliere

   Pages 55-83

6. Gas Storage and Security of Supply

   • Anna Cretì, Bertrand Villeneuve

   Pages 85-112

7. Final Remarks and Policy Recommendations

   • Monica Bonacina, Anna Cretì, Antonio Sileo

   Pages 113-116

I remember that the idea of this book emerged ?rst in Toulouse, during the Third Conference on Energy Markets – 3 years ago now. Anna Cret` ? gave a talk on a model dealing with seasonal gas storage in the USA, and Christian Von Hirschausen was her discussant. Both of them were devoting their efforts to understand the natural gas market in Europe and the relevant liberalization process. I found their interest in storage rather original, so I encouraged Anna to collect the most original cont- butions on this topic. Back in Milan with this idea in mind, she organized a working group at IEFE- Bocconi University, where she works. Then, during the following year, she - changed ideas and organized several meetings with the book’s contributors. She regularly invited the most important Italian gas sector representatives to these me- ings, to make sure that the economic models were well suited to tackle the issues at stake in the European gas industry.

• Gas Sector
• Imperfect competition
• Regulation
• Storage
• natural gas
• temperature
• climate change

From the reviews:

"The book introduces new applications of economic models to describe the enlarged playing fields of gas storage operators in the competitive market. … The book is a collection of four articles by different authors and each targets a specific sub-task in the competitive market … . This book is definitely an important step in analyzing the complex task of storages in the gas market … . suggested to readers that are interested in the more technical background and theory of modelling the natural gas market." (Bastian Schwark, Competition and Regulation in Network Industries, Vol. 10 (4), 2009)

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