Gas Prices Research Articles

Three different directions in which the European Union could replace Russian natural gas

Russia's invasion of Ukraine fuelled an energy crisis, which considerably impacted Europe given its heavy reliance on Russian natural gas imports. This study uses an ensemble of four global integrated assessment models, which are further soft-linked to two sectoral models, and explores the synergies and trade-offs among three approaches to living without Russian gas in Europe: (a) replacing with other gas imports, (b) boosting domestic energy production, and (c) reducing demand and accelerating energy efficiency. We find that substituting Russian gas from other trade partners would miss an opportunity to accelerate decarbonisation in end-use sectors while risking further fossil-fuel lock-ins, despite featuring the lowest gas price spikes and potentially reducing heating costs for end-users in the near term. Boosting domestic, primarily renewable, energy production on the other hand would instead require considerable investments, potentially burdening consumers. Energy demand reductions, however, could offer considerable space for further emissions cuts at the lowest power-sector investment costs; nonetheless, an energy efficiency-driven strategy would also risk relocation of energy-intensive industries, an aspect of increasing relevance to EU policymakers.

Optimal Planning of Urban Building-Type Integrated Energy Systems Considering Indoor Somatosensory Comfort and PV Consumption

Building energy consumption is the main urban energy consumption component, which mainly serves people-centered work and living energy demands. Based on the physical requirements of humans in urban buildings and to determine the comfortable body temperature in each season, this paper establishes a sizing optimization model of building-type integrated energy systems (IES) for sustainable development, where the cooling and heating loads required to maintain indoor somatosensory body comfort temperature are calculated. Depending on the external energy price, internal power balance, and other constraints, the model develops an optimal sizing and capacity-planning method of energy conversion and storage unit in a building-type IES with PV generation. The operating principle is described as follows: the PV generation is fully consumed, a gas engine satisfies the electric and thermal base load requirements, and the power system and a heat pump supply the remaining loads. The gas price, peak-valley electricity price gap, and heat-to-power ratio of gas engines are considered important factors for the overall techno-economic analysis. The developed method is applied to optimize the economic performance of building-type IES and verified by practical examples. The results show that using the complementary characteristics of different energy conversion units is important to the overall IES cost. A 300 kW building photovoltaic system can reduce the gas engine capacity from 936.7 kW to 854.7 kW, and the annual cost can be approximately reduced from 7.82 million to 7.50 million RMB yuan.

Study of the basic laws and parameters of immobilization of yeast cells on various carriers for the production of bioethanol

Over the past few years, due to a sharp increase in oil and gas prices, as well as a number of environmental problems, the world has seen a rapid increase in the consumption of bioethanol, the production of which o based on the use of biorenewable raw materials. Today, over 90% of bioethanol is produced, as a rule, using yeast cells (Saccharomyces cerevisiae) as catalysts. With the help of microorganisms immobilized by cells, it is possible to organize economically efficient production of ethanol based on whey. A bioreactor with immobilized yeast cells allows for a continuous process of whey fermentation under optimal conditions with a high yield of bioethanol. Immobilized yeast cells have been found to be superior to free yeast cells because immobilized cells are more ethanol resistant and have lower substrate inhibition. Various researchers have concluded that immobilized S. cerevisiae produces more ethanol compared to free cells, although the immobilizing agents used varied.

Shifts in the Relationships between Gas Price and User Activity in Ethereum Following Ethereum Improvement Proposal 1559

Shifts in the Relationships between Gas Price and User Activity in Ethereum Following Ethereum Improvement Proposal 1559

Correlation analysis of geological factors with the coefficient of gas transfer of organizations

Extensive research has been conducted to analyze the impact of geological, technological, and economic factors on the gas recovery coefficient of productive formations. The objective is to assess the relative significance of these factors and establish their functional relationship by employing correlation methods.The assessment criteria for determining the influence of these factors on gas recovery are primarily based on geological considerations. Geological factors play a crucial role in the productivity of gas reservoirs, including parameters such as reservoir porosity, permeability, and saturation. Additionally, the geological characteristics of the formation, such as lithology, structural features, and stratigraphy, are taken into account.By employing correlation methods, the functional connections between these geological factors and the gas recovery coefficient can be established. Correlation analysis provides valuable insights into the interrelationships and dependencies among these factors, allowing for a better understanding of their combined impact on gas recovery.Technological factors also play a significant role in gas recovery. These factors encompass various techniques and practices employed during drilling, completion, and production operations. Advanced drilling technologies, well completion strategies, and efficient reservoir stimulation methods all contribute to optimizing gas recovery from productive formations.Furthermore, economic factors such as market conditions, gas prices, and infrastructure availability can influence the economic viability of gas recovery projects. The assessment of these economic factors is essential to ensure the profitability and sustainability of gas production operations.

Media sentiment emotions and consumer energy prices

This paper analyzes how sentiment from different news sources affect[s] energy prices for consumers. We assess the impact of sentiments derived from newspaper and social media on prices of gasoline, heating oil and natural gas from 2006 until 2021. Having shown that sentiments derived from social media and newspapers differ significantly in the first step, we show that newspaper sentiments have significant effects on prices in times of high news coverage while the effects of social media news are negligible. Finally, we illustrate that strong emotions in newspaper coverage have additional price effects and analyze a potential factor structure for out-of-sample forecasts.

ЦЕНОВАЯ КОНЪЮНКТУРА И ПЕРЕОРИЕНТАЦИЯ РОССИЙСКОГО ЭКСПОРТА АЛЮМИНИЯ НА АЗИАТСКИЕ РЫНКИ В 2022–2023 гг.

The author studies the impact of market prices on the geographic sales changes of aluminium, which is historically one of the key Russian exports. The increase in supplies to the markets of China, South Korea and Turkey after February 2022 was accompanied by price decline. The regression analysis has shown that without the factor of sanctions risks in this market situation, imports from Russia would have decreased, as it steadily happened with supplies from other countries. The article also examines other market factors of the deterioration of the financial situation of the Russian aluminium industry – the rise in the costs of imported alumina due to a change of suppliers, as well as Russia’s weak energy advantages over other countries due to low prices for oil and gas. The measures of the state industrial policy to restore the global competitiveness of the industry were proposed.

Operational characteristics of the combined heat and power plant in the district heating system of Belgrade

The combined production of electricity and thermal energy (combined heat and power or co-generation) is the most efficient and convenient approach to reduce costs for energy at industrial power plants and district heating plants that use natural gas as fuel to produce thermal energy for various needs. This paper analyses the operational characteristics of the combined heat and power plant, which has been operating since January 1, 2021, at the Vozdovac Heating Plant as part of the Belgrade district heating system. The combined heat and power plant consists of three gas engine units with a total nominal electric power of 10 MW and thermal power of 10.1 MW, which use natural gas as fuel. The combined heat and power plant is used for district heating and preparing domestic hot water while electricity is sold to the local electric grid. The analysis in this paper focuses on the plant?s operational characteristics: the number of working hours, the total energy consumption and energy production, the efficiency as well as the operational and maintenance costs. Also, the impact of the drastic changes in the prices of natural gas, electricity, and maintenance costs in the last year on the financial profitability of the combined heat and power plant was analysed in particular.

СТРАТЕГІЧНИЙ АНАЛІЗ МАРКЕТИНГОВОГО СЕРЕДОВИЩА ПРОМИСЛОВОГО ПІДПРИЄМСТВА

The article examines the role of strategic analysis of the marketing environment of an industrial enterprise using the example of a leading agricultural machinery company in Ukraine. It has been proven that in the process of justifying strategic marketing decisions, the importance of conducting a qualitative analysis of the marketing environment of an industrial enterprise and evaluating their condition in target markets increases. The article deals with strategic planning methods such as SWOT- and PEST-analysis intended for the analysis of external and internal environment. In conditions of a highly competitive market, the marketing environment of an industrial enterprise is both the object of research and one of the most important aspects of its activities. Each enterprise must monitor constant changes in the environment and adapt to them. The analysis of external and internal factors affecting the enterprise showed that the enterprise is in a difficult economic situation. As a result of the analysis, the following opportunities for the enterprise were identified: entering new sales markets, implementing state support programs for agricultural producers, establishing its own representations in various regions of Ukraine, and developing IT technologies in sales. The threats identified include further escalation of hostilities in Ukraine, strong competitors in European countries, and rising gas and energy prices. The results of such analysis form the basis for making important management decisions regarding the identification of priority areas for the development of an industrial enterprise, the development of its effective marketing strategy, the establishment of an optimal pricing strategy, the determination of target audience and channels for promoting products or services, as well as identifying opportunities for innovation and improving the effectiveness of marketing efforts. Thus, in the process of substantiating strategic marketing decisions, the importance of conducting quality marketing analysis and assessing their condition in target markets increases. By considering the capabilities of an industrial enterprise, its strengths and weaknesses, conducting an analysis of threats emanating from the external environment, it is possible to determine the optimal development strategy for the enterprise. In our opinion, the most effective strategy for the enterprise will be a combined strategy aimed at maintaining competitive advantages and envisaged deeper penetration into new markets.

Subway Riders’ Reactions to External Shocks: The Gas Price Hike and The COVID-19 Pandemic in Iran

Subway Riders’ Reactions to External Shocks: The Gas Price Hike and The COVID-19 Pandemic in Iran

The Decoupling of Oil and Natural Gas Prices and Implications for Korean Industries 

The Decoupling of Oil and Natural Gas Prices and Implications for Korean Industries 

Multiscale analysis for the utilization of CO2 towards the production of chemicals at the country level: Case study of Spain

This work evaluates a systematic comparison between the production of methanol and methane using CO2 and renewable hydrogen. CO2 is captured from point and dilute sources using aqueous MEA solutions and a conventional DAC process. Hydrogen is obtained through water electrolysis, powered by PV panels and wind turbines. First, a techno-economic evaluation is developed to detail the characteristics of the production facilities and the renewable energy systems. Finally, a Facility Location Problem (FLP) is developed to determine the centralized and decentralized CO2 use across Spain. This supply network is formulated as a mixed-integer linear programming (MILP) problem, selecting the optimal amount of CO2 to capture, the number and location of the facilities, the distribution of the PV panels for a fixed available area in the territory, and the number of wind turbines across the 47 Spanish peninsular provinces. Methanol is the selected product, with prices between 1,000–2,600 €/tMethanol. MEA solutions are preferred over DAC. Methane production is also considered through decentralized CO2 capture due to abundant CO2 availability and high transportation costs. A sensitivity analysis was performed, obtaining prices from 18.97 to 20.36 €/MMBTU to 8.90–9.09 €/MMBTU in the years 2022 and 2050, covering 5 times the methane production for that period. The implementation of carbon taxes could lower methane prices to around 2–3 €/MMBTU by 2050, aligning closely with natural gas prices.

Does Petroleum Products Pricing Stimulate Economic Growth in Nigeria? An Empirical Investigation Applying ARDL Approach

The rising prices of petroleum products and energy in Nigeria, coupled with a surge in poverty and a decline in living standards, necessitate an investigation into how the pricing of petroleum products has impacted Nigeria’s economic growth from 1990 – 2022. To achieve the purpose of the study, data on growth rate of gross domestic product, premium motor spirit price, automotive gas oil price, household kerosene price, compressed natural gas price and crude oil price were sourced from the World Bank and Petroleum Product Pricing and Regulatory Agency (PPPRA) and analysed by employing the Auto regressive Distributed lag (ARDL) method. Our results and findings revealed that: Prices of Premium Motor Spirit, automotive gas oil, dual purpose kerosene and crude oil were all negatively and marginally related to economic growth in the long run. Only price of compressed natural gas was positively but marginally related to economic growth. This implies that petroleum products prices had retarding effect on economic growth in Nigeria in the long run. In the short run, premium motor spirit and automotive gas oil had mixed effect on economic growth while price of household kerosene and price of crude oil were positively related to economic growth but price of compressed natural gas were negatively related to economic growth. Petroleum products prices proxied by prices of Premium Motor Spirit, Automotive Gas Oil, Household Kerosene, Compressed Natural Gas and Crude oil had less impact on economic growth in the long but had serious implications on economic growth in the short run in Nigeria over the period of the study. Based on this conclusion, the study recommended Increase investment in compressed natural gas, proper utilization of crude oil revenue and strengthening existing policies in the oil and gas sector as possible measures towards improving economic growth in Nigeria.

The Pass-Through to Inflation of Gas Price Shocks

The Pass-Through to Inflation of Gas Price Shocks

Turn down your thermostats – A contribution to overcoming the European gas crisis? The example of Germany

Europe's current gas crisis requires rapid government intervention to curtail natural gas consumption and mitigate expenses for consumers. This study aims to comprehensively assess the impact of adjusting thermostats, with single-family houses in Germany serving as a case study. A unique bottom-up approach for approximating gas consumption at the level of building archetypes reveals that decreasing temperature setpoints from 21 °C to 19 °C and 17 °C can save about 14 and 30 TWh/a of gas, respectively. This corresponds to 3–6 % of gas imports from Russia to Germany in 2020. The largest absolute savings can be realized in older and larger buildings. Additionally, our findings suggest that the adjustment of thermostats may decrease residential CO2 emissions by 3–6 Mt/a, achieved through a reduction of 2–4 °C in the setpoint. Therefore, the measure shows great promise regardless of the present crisis. From the consumer's perspective, a 1 °C temperature reduction can lead to a gas bill reduction of 4–9 %, contingent upon building type. Nevertheless, the cost burden associated with rising gas prices surpasses these savings. Residents of older buildings suffer more severe financial impacts than those in newer ones. Our research suggests that policymakers should consider implementing adjustments to residential thermostats. Furthermore, consumer financial assistance programs should factor in building type when designing relief mechanisms.

Retail Electricity Market Restructuring and Retail Rates

Prior to the 1990s, all U.S. states used a “cost of service (COS)” regulation regime in which investor-owned utilities were allowed to recover prudently incurred costs plus a rate of return on capital expenditures, and retail customers were unable to choose their electricity supplier. From 1996–2000, multiple states passed retail electricity market “restructuring.” This empirical research examines the effect of retail restructuring on electricity prices to final consumers. We find that rates increased in restructured states relative to plausible counterfactuals in the years post-restructuring. But by twelve years after retail restructuring, we no longer observe any difference. We investigate plausible mechanisms, finding evidence that retail prices became more responsive to natural gas prices due to retail restructuring, the timing of which coincided with increases in natural gas prices nationally. We also test for whether restructuring had distributional effects across customer classes and find that in the short run residential customers benefited relative to industrial customers during transition periods, but that this difference does not persist into full implementation.

Fueling Electrification: The Impact of Gas Prices on Hybrid Car Usage

Fueling Electrification: The Impact of Gas Prices on Hybrid Car Usage

Thermoeconomic simulation of a complex energy system for performance analysis and prediction in deep peak shaving

The establishment of a cost model for complex energy systems based on thermoeconomics can provide technical and economic evaluation indicators for complex energy systems. At the same time, to integrate more renewable energy into the grid, complex energy systems must participate in deep peak shaving. To evaluate the technical-economic performance of complex energy systems involved in deep peak shaving, a novel thermoeconomic cost construction method is proposed based on the production structure diagram, using the gas-steam combined cycle system as an example. these can effectively avoid the derivation error of high-dimensional models, improve the modeling and calculation speed, and obtain the variation trend of system thermoeconomics cost under load changes and operating parameter changes. The results show that the external and internal factor can change the power generator thermoeconomic cost. the power generation cost of the system increases with increasing natural gas price and environmental temperature When the compressor pressure ratio increases, the power generation cost of the system also increases. At 100% load, the power generation cost reaches its lowest value when the exhaust temperature is equal to 615?C.

What Drives Interval-valued Natural Gas Prices?

What Drives Interval-valued Natural Gas Prices?

Gas Price Caps and Volatility Transmission in Commodity and Equity Markets

Gas Price Caps and Volatility Transmission in Commodity and Equity Markets