The Economics of Natural Gas Storage: A European Perspective

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Within the context of an evolving global market for natural gas and restructuring efforts in the European market, natural gas storage is an important element. Providing additional flexibility, promoting competition, and enhancing supply security are crucial elements for natural gas sector liberalization. Gas storage in Europe has come to the center of attention mainly due to very cold temperatures in winter 2005/06 and the price increases during that time period, especially in the UK. This book aims at uncover four main topics: the development of commercial storage; access regulation, capacity allocation and market power; storage and security of gas supply.