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Building Sustainable Natural Gas Markets

In: Monetizing Natural Gas in the New “New Deal” Economy

Author

Listed:
  • Michelle Michot Foss

    (Rice University)

  • Gürcan Gülen

    (Independent Consultant)

Abstract

What makes a natural gas market work? Based on a number of case studies and projects in various countries, we offer a natural gas market decision-tree approach that helps to identify and isolate the main roadblocks that typically prevent evolution of liquid natural gas markets. For countries that must import natural gas, the price of gas relative to substitute fuels is a distinct consideration. Too few countries allow market-based natural gas prices that reflect internal supply and demand dynamics. Interactions across spheres of influence—politics, legal, policy, regulatory, market design—can affect natural gas infrastructure investments, undermining even “license to operate” agreements that seem solid. Any number of challenges affect natural gas monetization, including policies to promote competing alternative energy sources as well as institutional capacity constraints that impact overall energy sector development. Capital intensity of natural gas value chains and creditworthiness of home governments are distinct considerations. We provide a snapshot of global natural gas market maturity across a selection of countries and regions.

Suggested Citation

  • Michelle Michot Foss & Gürcan Gülen, 2021. "Building Sustainable Natural Gas Markets," Springer Books, in: Michelle Michot Foss & Anna Mikulska & Gürcan Gülen (ed.), Monetizing Natural Gas in the New “New Deal” Economy, chapter 0, pages 363-400, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-59983-6_6
    DOI: 10.1007/978-3-030-59983-6_6
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