The supply of natural gas in the European Union—strategic issues

Percebois, Jacques

doi:10.1111/j.1753-0237.2008.00142.x

Cited by 28 publications

(16 citation statements)

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“…The final consumption for natural gas in non-energy use sector rose by 36.6% due to high consumption for petrochemical industry in the country [56]. 4 Natural gas plays an important significant part in the electricity generation of the country. With less than 3.19% and 27.19% of the electricity generation mix in 1980 and 1993, natural gas constitutes about 45% of this mix in 2011 (Table-2), and is planned to have a future contribution of 50%-60% in power generation mix [57,58].…”

Section: An Overview Of Malaysian Economymentioning

confidence: 99%

“…In many respects, natural gas not only differs from electricity but also other forms of energy. It is not as controversial as nuclear power; more environmentally-friendly, when compared with either coal or oil; and can be stored, unlike electricity [4]. Therefore, ignoring the different characteristics of energy components may not only hide the differential impact related with different forms energy consumption, but also leads to wrong policy implications for each component of energy, especially for natural gas, which is characteristically different from other components of energy [5].…”

Section: Introductionmentioning

confidence: 99%

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Natural gas consumption and economic growth: The role of foreign direct investment, capital formation and trade openness in Malaysia

Solarin

Shahbaz

2015

Renewable and Sustainable Energy Reviews

147

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Abstract:The objective of this paper is to reinvestigate the relationship between natural gas consumption and economic growth by including foreign direct investment, capital and trade openness in Malaysia for the period of 1971-2012. The structural break unit root test is employed to investigate the stationary properties of the series. We have applied combined cointegration test to examine the relationship between the variables in the long run. For robustness sake, the ARDL bounds testing method is also employed to test for possible of long run relationship in the presence of structural breaks. We note the validity of cointegration between the variables. Natural gas consumption, foreign direct investment, capital formation and trade openness have positive influence on economic growth in Malaysia. The results support the presence of feedback hypothesis between natural gas consumption and economic growth, foreign direct investment and economic growth, and natural gas consumption and foreign direct investment. The policy implications of these results are provided.Keywords: Natural gas consumption, Economic growth, Causality 1. Introduction Natural gas already meets nearly a quarter of the world's energy demand, but recent innovations in exploration and production have made it possible to greatly expand gas supplies. Cleaner than coal and oil (because it generates 20% less emission than oil, and almost 50% less than coal), and more efficient and reliable than renewable energy, natural gas is an essential long-term answer to the world's energy and climate challenges [1]. Gas-fired power plants need less construction time than either nuclear facilities or coal-fired plants. This shorter construction time eases the process of investment decisions in many firms [1]. Given the rising importance of natural gas, many characteristics of this valuable resource have not been properly investigated in the economics literature [2]. The causal relationship between the consumption of natural gas and the economy is one of the areas that have received little attention. Very limited attempts have been made in the literature in this aspect and without a clear consensus among the researchers over the relationship between natural gas consumption and economic growth. Instead, significant part of the causality tests has focused on either aggregate energy consumption or electricity consumption with very vital policy implications [3]. For instance, unidirectional causality

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Section: An Overview Of Malaysian Economymentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Natural gas consumption and economic growth: The role of foreign direct investment, capital formation and trade openness in Malaysia

Solarin

Shahbaz

2015

Renewable and Sustainable Energy Reviews

147

View full text Add to dashboard Cite

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“…Ils constituent à ses yeux des barrières à l'entrée importantes pour de nouveaux acteurs potentiels et freinent donc la concurrence et le développement de la nécessaire liquidité des marchés (Percebois, 2008). Ces contrats poseraient problème au niveau de leur durée (20-30 ans) ainsi qu'au niveau de certaines de leurs clauses.…”

Section: Gazprom Et La Défense Des Contrats Top : Les Enjeux De Flexiunclassified

Les enjeux de sécurité dans la relation gazière UE-Russie

Locatelli¹

2013

rei

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La sécurité gazière de l’Union européenne émerge depuis le début des années 2000 comme un élément clé de sa politique énergétique. Les relations contractuelles basées sur les contrats de long terme durant les années 1970 et 1980 ont produit une relative stabilité dans les échanges énergétiques entre l’UE et ses fournisseurs gaziers. Mais depuis le milieu des années 1990, le processus d’ouverture à la concurrence des industries gazières de l’UE ainsi que la volonté de créer un marché unique du gaz conduisent à des réorganisations en profondeur de ce secteur. Dans ce contexte, l’UE entend redéfinir la gestion de ses relations avec ses principaux fournisseurs en tentant d’imposer son « modèle » basé sur la concurrence, la dé-intégration des entreprises de réseau et la privatisation. Le « modèle de l’UE » n’est pas celui que la Russie tend à mettre en œuvre dans son secteur gazier en dépit d’importants changements. La logique basée sur l’utilisation privilégiée d’un instrument étatique s’oppose au multilatéralisme et aux principes concurrentiels de l’UE qui prônent l’ouverture, la dé-intégration voire la privatisation du secteur gazier. Le pouvoir normatif de l’UE se trouve ainsi en contradiction avec l’environnement institutionnel du secteur énergétique russe.

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“…Negotiations will probably take place with a view to modifying some of these clauses (with the introduction of a spot price in the indexation formula) 1 while others, such as the final destination clause, have already been removed. Even though the debate is far from over in Europe (de Hauteclocque and Glachant, 2009; Rious, 2009), the EU authorities appear to consider these TOP contracts to be contrary to the Union's competition policy (European Commission, 2008; Percebois, 2008), seeing them as major barriers to the entry of potential new partners and believing that they inhibit development of the liquidity needed in the markets. The risk is that the markets will become divided, which is counter to the creation of a single market for gas, the second objective of EU energy policy (Talus, 2007).…”

Section: Gazprom's Response To Eu Gas Market Liberalisationmentioning

confidence: 99%

Gas market developments and their effect on relations between Russia and the EU

Boussena¹,

Locatelli²

2011

OPEC Energy Review

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The changes on the European Union (EU) gas market are likely to affect Europe's relations with its natural gas suppliers who are facing increasing competition. Heading this list of producing countries is Russia. Gas relations between Russia and the EU are characterised by strong interdependence. But these relations are currently being hampered by serious lack of understanding, making it difficult for the two parties to reach agreement on a new energy partnership. The aim of this article is to analyse the effects of this new European gas context on Gazprom's strategy and how the issues of energy security and cooperation between Russia and the EU will be affected by this new order.

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The supply of natural gas in the European Union—strategic issues

Cited by 28 publications

References 1 publication

Natural gas consumption and economic growth: The role of foreign direct investment, capital formation and trade openness in Malaysia

Natural gas consumption and economic growth: The role of foreign direct investment, capital formation and trade openness in Malaysia

Les enjeux de sécurité dans la relation gazière UE-Russie

Gas market developments and their effect on relations between Russia and the EU

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