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Forecasting Natural Gas: A Literature Survey

Author

Listed:
  • Jean Gaston Tamba

    (Department of Thermal and Energy Engineering, University Institute of Technology, University of Douala, PO Box 8698 Douala, Cameroon)

  • Salom Ndjakomo Essiane

    (Laboratory of Technologies and Applied Science, University Institute of Technology, University of Douala, PO Box 8698 Douala, Cameroon,)

  • Emmanuel Flavian Sapnken

    (Laboratory of Technologies and Applied Science, University Institute of Technology, University of Douala, PO Box 8698 Douala, Cameroon,)

  • Francis Djanna Koffi

    (Department of Thermal and Energy Engineering, University Institute of Technology, University of Douala, PO Box 8698 Douala, Cameroon,)

  • Jean Luc Nsouand l

    (Department of Renewable Energy, Higher Institute of the Sahel, University of Maroua, PO Box 46, Maroua, Cameroon)

  • Bozidar Soldo

    (HEP-Plin Ltd., Cara Hadrijana 7, HR-31000 Osijek, Croatia,)

  • Donatien Njomo

    (Environmental Energy Technologies Laboratory, University of Yaound I, PO Box 812, Yaound , Cameroon.)

Abstract

This work presents a state-of-the-art survey of published papers that forecast natural gas production, consumption or demand, prices and income elasticity, market volatility and hike in prices. New models and techniques that have recently been applied in the field of natural gas forecasting have discussed with highlights on various methodologies, their specifics, data type, data size, data source, results and conclusions. Moreover, we undertook the difficult task of classifying existing models that have been applied in this field by giving their performance for instance. Our objective is to provide a synthesis of published papers in the field of natural gas forecasting, insights on modeling issues to achieve usable results, and the future research directions. This work will help future researchers in the area of forecasting no matter the methodological approach and nature of energy source used.

Suggested Citation

  • Jean Gaston Tamba & Salom Ndjakomo Essiane & Emmanuel Flavian Sapnken & Francis Djanna Koffi & Jean Luc Nsouand l & Bozidar Soldo & Donatien Njomo, 2018. "Forecasting Natural Gas: A Literature Survey," International Journal of Energy Economics and Policy, Econjournals, vol. 8(3), pages 216-249.
    • Handle: RePEc:eco:journ2:2018-03-28
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    Keywords

    Forecasting natural gas; Existing forecasting models; Models categorization.;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
    • Q47 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy Forecasting

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