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Natural Gas Market Modeling

In: Complementarity Modeling in Energy Markets

Author

Listed:
  • Steven A. Gabriel

    (University of Maryland)

  • Antonio J. Conejo

    (University of Castilla – La Mancha)

  • J. David Fuller

    (University of Waterloo)

  • Benjamin F. Hobbs

    (The Johns Hopkins University)

  • Carlos Ruiz

    (European Foundation for New Energy – EDF École Centrale Paris and Supélec)

Abstract

Natural gas is a key fuel in energy markets worldwide. It is produced from either onshore or offshore wells, processed to remove impurities, and then transported by either pipeline in gaseous form or cooled to about -260 degrees F (about -160 degrees C) and then transported as liquefied natural gas (LNG) to destinations around the world. The main consuming sectors that use it are residential, commercial, industrial, electric power, and to some extent transportation. At present, the world has abundant gas supplies. According to [52], the global mean projected remaining recoverable resources is 16,200 trillion cubic feet (Tcf) or 150 times the current annual global consumption. About 9,000 Tcf is gauged to be economically available at less than or equal to $4 per million British Thermal Units (Btu) [52].

Suggested Citation

  • Steven A. Gabriel & Antonio J. Conejo & J. David Fuller & Benjamin F. Hobbs & Carlos Ruiz, 2013. "Natural Gas Market Modeling," International Series in Operations Research & Management Science, in: Complementarity Modeling in Energy Markets, edition 127, chapter 0, pages 433-476, Springer.
    • Handle: RePEc:spr:isochp:978-1-4419-6123-5_10
    DOI: 10.1007/978-1-4419-6123-5_10
    as

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