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The Evolution of Natural Gas Market Integration: From Regional Segmentation to Global Interconnectedness. Insights from a Literature Review

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  • HUDAK Milan

Abstract

This article provides a review of academic studies on natural gas market integration, tracing the shift from regional segmentation to global interconnectedness. It explores the roles of market liberalization, infrastructure development, and liquefied natural gas (LNG) trade growth in transforming the global gas landscape. By analyzing key methodological approaches, the review highlights the progression of integration in European, North American, and Asian markets. The findings underscore the increasing interconnectedness of gas markets, the challenges of achieving full global integration, and the implications for pricing, investment, and energy security.

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  • HUDAK Milan, 2024. "The Evolution of Natural Gas Market Integration: From Regional Segmentation to Global Interconnectedness. Insights from a Literature Review," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 02, June.
    • Handle: RePEc:jis:ejistu:y:2024:i:02:id:548
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    References listed on IDEAS

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    1. Asche, Frank & Misund, Bård & Sikveland, Marius, 2013. "The relationship between spot and contract gas prices in Europe," Energy Economics, Elsevier, vol. 38(C), pages 212-217.
    2. Szafranek Karol & Rubaszek Michał, 2024. "Have European natural gas prices decoupled from crude oil prices? Evidence from TVP-VAR analysis," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 28(3), pages 507-530.
    3. Sang-Hyun Kim & Yeon-Yi Lim & Dae-Wook Kim & Man-Keun Kim, 2020. "Swing Suppliers and International Natural Gas Market Integration," Energies, MDPI, vol. 13(18), pages 1-12, September.
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    Keywords

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    JEL classification:

    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • L95 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Gas Utilities; Pipelines; Water Utilities
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure

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