Gas Prices Research Articles

Brazil’s New Gas Law: Analysis, Implications, and Remuneration of Gas Processing Plants with Non-Discriminatory Access to Customers

Brazil will increasingly rely on the availability of natural gas as new discoveries in the Pre-Salt portion are explored. Currently, a substantial amount of the gas produced associated with oil is reinjected (60,84 million m³/day in 2021, according to the Ministry of Mines and Energy), with the lack of structure being one of the factors for this non-energy purpose. The New Gas Law proposes to fill this gap by stimulating investments in infrastructure. In this sense, market opening has the potential to promote the rupture of natural monopolies by providing access to infrastructure, including Natural Gas Processing Plants (NGPP). This units, in addition to conditioning the gas for sale, allow the recovery of higher molecular weight fractions, or (Natural Gas Liquid). However, the instructions for this access required by the government are insufficient for issues related to the NGL recovery efficiency of these units, as well the method of remuneration arising from the NGL production capacity. It is proposed in this paper to include a processing tariff, based on static simulation of available technological routes. Comparison of energy spent and NGL recovery efficiency will allow to formulate the gas price, unfolding from the price of the molecule.

The Path to a Sustainable Energy Europe: An Analysis of the Transition from Fossil Fuels to Renewable Energy

The main purpose of this study is to investigate the application of predictive analytics techniques in the energy field and to identify strategies to stimulate renewable energy production. The analysis begins by examining four key indicators: renewable energy, gas price, gas consumption and renewable energy consumption through a detailed descriptive analysis. Visual graphs are built to get an overview of the evolution of the energy sector in the period 2011-2020 with the help of Tableau software. The analysis is supported by the use of the Random Forest algorithm as a prediction model, considering critical indicators such as gas price, gas consumption and renewable energy consumption. The prediction results provide insight into anticipating changes in renewable energy production in the European countries studied. At the same time, the study highlights the current situation of renewable energy in Europe and identifies the necessary measures for its sustainable development through the analysis of specialized literature. It also examines the way in which big data management, facilitated by technologies such as smart meters and drone sensors, can help improve the energy sector. This research offers valuable results, providing insights into the evolution of renewable and fossil energy, as well as a detailed comparison of renewable energy, gas prices, gas consumption and trends in renewable energy consumption. By integrating predictive analytics techniques, data management and renewable energy-specific indicators, this study makes an innovative contribution to energy systems analysis. Its focus on European countries contributes to the understanding of the growth potential of renewable energy generation in this region.

Russia–Ukraine Conflict, Commodities and Stock Market: A Quantile VAR Analysis

The Russia–Ukrainian war, which began in 2014 and exploded with the invasion of the Russian army on 24 February 2022, has profoundly destabilized the political, economic and financial balance of Europe and beyond. To the humanitarian emergency associated with every war has been added the deep crisis generated by the strong energy and food dependence that many European countries, and not only European, have developed over decades on Ukraine (especially for wheat) and Russia (especially for natural gas). The aim of this article is to verify the existence of a link between the performance of the Eurostoxx index and the price of wheat futures and TTF natural gas, from 25 February 2019 to 28 September 2023. Through a quantile VAR analysis, a link is sought between the Eurostoxx 50 index, and wheat and TTF gas futures prices. Furthermore, the analysis intends to understand whether the presence of such relationship only manifested itself following the war events, or whether it was already present in the market. The analysis carried out also shows that the relationship between the stock market and raw material prices was present even before the conflict.

Transformation to a renewable electricity system in Austria: Insights from an integrated model analysis

We analyse the (techno- and macro-)economic and distributive effects of a transformation to a renewable electricity system in Austria by 2030, as stipulated by the Austrian government. For the analysis, the macroeconomic model DYNK and ATLANTIS, a partial model of the electricity market, were expanded and linked. Four transformation scenarios conforming with the 100% renewable electricity target in Austria on a national balance are examined, integrated into a consistent scenario for the development of the European electricity system. Additionally, sensitivity analyses with respect to the gas price are performed. Although all scenarios achieve 100% renewable electricity on a national balance, the analysis shows that electricity from gas-fired power plants will still be needed in 2030 to balance variable renewable generation, to avoid grid congestion, and for heat generation from combined heat and power plants in winter months. Another main conclusion from the simulations is that the transition towards a renewable electricity sector is almost neutral from a socio-economic perspective. It does neither reveal harmful impacts nor lead to high multiplier effects from additional investment. With high natural gas prices in the sensitivity scenarios a decrease in GDP and household income, which might motivate redistributive policies, can be observed.

Wind of change: the impact of REPowerEU policy reforms on gas security

ABSTRACT The Russian invasion of Ukraine was a shock to the EU gas market, as Russian gas supply dwindled and prices spiked. Previous exogenous shocks to the gas market resulted in policy reforms aimed at diversification and reducing dependency on Russian gas. However, their effectiveness was reduced. This study seeks to examine the policy changes under REPowerEU in light of gas security post-invasion. To examine this, three indicators – import dependency, diversification, and gas intensity – are used and examined the REPowerEU policy elements – reduced Russian gas, increased renewables and energy efficiency targets, gas storage requirements, demand reduction and a joint purchasing mechanism. This preliminary analysis highlights similarities in approaches, but also find that the severity of the crisis contributed to more support. The early effectiveness of the policy reforms is questioned, as change appear driven by other factors, such as decisions made by Russia and high gas prices.

The ability of energy commodities to hedge the dynamic risk of epidemic black swans

The outbreak of COVID-19 increased global financial risks and economic shocks. Although epidemic risk is on the decline, the likeliness of a similar black swan event occurring in the future cannot be ruled out. In this study, we constructed epidemic search indices using the Google Search Volume Index (SVI) to examine whether investor sentiment regarding the COVID-19 pandemic affected stocks, gold, silver, copper, crude oil, and natural gas. The results reveal that, over the entire epidemic period, energy assets (crude oil and natural gas) were the most “resistant” to epidemic panic, making them suitable for hedging the risk associated with epidemic panic risk. We employed a time-varying parameter structural vector autoregression model with stochastic volatility (TVP-SVAR-SV) to analyze the time-varying contagion effects of epidemic search indices on various asset prices at different points in time. The findings indicate that in the early stages of the COVID-19 pandemic when epidemic panic risk was highest, natural gas prices exhibited the most risk-averse characteristics. Only during the middle to later stages of the epidemic did natural gas prices begin to be positively affected by epidemic panic sentiment. However, during this period, the epidemic search indices show a stable declining trend, indicating a reduction in risk. We observe that natural gas prices only reflected panic sentiment during periods of stability. The results of this study suggest that energy commodities, especially natural gas, are suitable for hedging against unforeseen high epidemic risks. When epidemic risk decreases, profits can be realized and reinvested in assets with a higher contagion effect due to epidemic risks, further benefiting from the rebound in the prices of these assets. In addition to explaining why energy commodities are particularly suitable for mitigating epidemic-related black swan events, we provide a detailed investment strategy for hedging future epidemic risk and further elaborate on how investors should dynamically adjust their portfolios according to the severity of the epidemic and whether it is under control.

Using solar-assisted biogas for space heating in rural China: An optimization case study

While biomass feedstock is readily available in rural areas of China, offering considerable potential for biogas utilization, the predominant use of biogas systems is limited to cooking rather than heating. This limitation arises from the mismatch between the high demand for heating in winter and the relatively low biogas production rates, creating a supply–demand disparity. The primary objective of this study is to enhance the heating reliability of the biogas system while simultaneously reducing the overall heating system cost. To achieve this goal, we propose an optimized operational strategy and design method centred around the concept of supply–demand matching. Our approach involves implementing a passive solar greenhouse-assisted centralized biogas production and decentralized heat supply system. The size of the biogas plant is tailored to meet specific user demands, with user demand regulation achieved through biogas storage capacity. Optimization techniques include feed time and insulation quilt control, leveraging waste heat recovery, as well as biogas storage optimization through adjustments in hydraulic residence time. The optimized design of the representative project demonstrates a significant reduction in the construction cost of the digester and storage tanks, which was 1/3 less compared to the pre-optimization period. Considering government subsidies, the price of biogas was only 54% of the local natural gas price, substantially reducing the overall cost of heating.

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.