{"id":1163,"date":"2016-04-13T09:49:11","date_gmt":"2016-04-13T07:49:11","guid":{"rendered":"https:\/\/ceem-dauphine.eu\/?p=1163"},"modified":"2024-07-25T09:50:37","modified_gmt":"2024-07-25T07:50:37","slug":"arbitrage-and-strategic-behaviors-in-regional-gas-markets","status":"publish","type":"post","link":"https:\/\/ceem-dauphine.eu\/en\/arbitrage-and-strategic-behaviors-in-regional-gas-markets\/","title":{"rendered":"Arbitrage and strategic behaviors in regional gas markets"},"content":{"rendered":"<p>PROGRAMME AND PRESENTATIONS<br \/>\nThe Seminar on Research in Energy Economics at Paris-Sciences-Lettres (PSL) is jointly organized by the CERNA (MINES PARIS TECH), the CGEMP (Universit\u00e9 Paris-Dauphine), the Chaire European Electricity Markets (Universit\u00e9 Paris-Dauphine), and i3 (l\u2019Institut interdisciplinaire de l\u2019innovation), members of PSL. It is animated by Fran\u00e7ois LEVEQUE (MINES PARIS TECH), Dominique FINON (Chaire European Electricity Markets, CNRS-CIRED) and Patrice GEOFFRON (Director, CGEMP, Universit\u00e9 Paris-Dauphine).<\/p>\n<p><strong>Yuri Yegorov<\/strong>, Faculty of Business, Wien University<br \/>\n<em>Arbitrage in natural gas markets: Drivers and constraints<\/em><br \/>\n<a href=\"https:\/\/ceem-dauphine.eu\/assets\/dropbox\/Yuri_Yegorov%2C_ArbitrageNaturalGas-Paris13apr16.pdf\">Presentation<\/a><br \/>\nNatural gas markets are characterized by an increasing role of liquefied natural gas (LNG), spot markets, along with deregulation, liberalization and growing competition in many national markets. Rising flexibility in LNG contracts\u2019 destination clauses combined with large spreads across locations create the impression of large arbitrage opportunities. However, technical, contractual, and market restrictions, differences in LNG qualities, capacity limits in shipping, liquefaction and re-gasification, as well as high transportation costs are important barriers for any arbitrageur. Accountings for these costs and barriers, arbitrage opportunities seem to exist in particular from the low cost US to high cost regions in Europe and Japan. Since it is difficult to be satisfied with explanations by these simple economic incentives, further explanations are needed: capacity constraint (US liquefaction plants), high investment costs at the individual level, rational expectations and US government interventions, currently and in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"PROGRAMME AND PRESENTATIONS The Seminar on Research in Energy Economics at Paris-Sciences-Lettres (PSL) is jointly organized by [&hellip;]","protected":false},"author":3,"featured_media":505,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-1163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events"],"acf":[],"_links":{"self":[{"href":"https:\/\/ceem-dauphine.eu\/en\/wp-json\/wp\/v2\/posts\/1163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ceem-dauphine.eu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ceem-dauphine.eu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ceem-dauphine.eu\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/ceem-dauphine.eu\/en\/wp-json\/wp\/v2\/comments?post=1163"}],"version-history":[{"count":2,"href":"https:\/\/ceem-dauphine.eu\/en\/wp-json\/wp\/v2\/posts\/1163\/revisions"}],"predecessor-version":[{"id":1165,"href":"https:\/\/ceem-dauphine.eu\/en\/wp-json\/wp\/v2\/posts\/1163\/revisions\/1165"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ceem-dauphine.eu\/en\/wp-json\/wp\/v2\/media\/505"}],"wp:attachment":[{"href":"https:\/\/ceem-dauphine.eu\/en\/wp-json\/wp\/v2\/media?parent=1163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ceem-dauphine.eu\/en\/wp-json\/wp\/v2\/categories?post=1163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ceem-dauphine.eu\/en\/wp-json\/wp\/v2\/tags?post=1163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}