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Global EnergyIssues, Potentials, and Policy Implications$
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Paul Ekins, Mike Bradshaw, and Jim Watson

Print publication date: 2015

Print ISBN-13: 9780198719526

Published to Oxford Scholarship Online: September 2015

DOI: 10.1093/acprof:oso/9780198719526.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 26 November 2020

The geopolitical economy of a globalizing gas market

The geopolitical economy of a globalizing gas market

(p.291) 15 The geopolitical economy of a globalizing gas market
Global Energy

Michael Bradshaw

Joseph Dutton

Gavin Bridge

Oxford University Press

The global gas industry is currently experiencing considerable turbulence. A number of factors are shaking the fundamentals of international trade in gas: the shale gas revolution in North America; the Fukushima disaster in Japan; and ongoing concerns in Europe about dependence on Russian gas imports. This chapter examines how these events are changing trade in liquefied natural gas and challenging price formation and trading arrangements. The conclusions suggest that the direction of travel is towards greater reliance on gas-to-gas competition for price formation and an increased role for hub-based trading and spot market transactions. These changes are seen as necessary if gas is to compete against coal and realize its role as a bridge to a low-carbon future.

Keywords:   gas markets, natural gas, LNG, price formation, shale gas

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