Foundations of Natural Gas Price Formation

Misunderstandings Jeopardizing the Future of the Industry

By: Sergei Komlev, Daniel Satinsky (Editor)

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Hardcover | 25 September 2020

At a Glance

Hardcover
158 Pages

Dimensions(cm)
23.6 x 16 x 1.5

Hardcover

RRP $125.00

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Natural gas pricing should be as critically important to the general public as it is to industry specialists. Pricing is the basis of balancing the interests of European and Asian consumers of power and electricity with those of the limited number of potential suppliers of natural gas. Given that natural gas is a foundational transition fuel source that will not be supplanted by renewals for many, many years, the consequences of market failure from incorrect pricing mechanisms could result in the industry missing the new investment cycle. In addressing the critical balancing role of natural gas pricing, 'Foundations of Natural Gas Price Formation' presents an in-depth analysis of the fundamentals of natural gas price formation and outlines the distinctive characteristics of natural gas that make it a unique commodity by examining the specific factors underpinning gas pricing that result in a hybrid pricing system special to natural gas. The book argues that the patrons of spot pricing through gas hubs are promoting an incorrect understanding of gas markets that will lead to market failure and to potential critical supply shortages in the near future. 'Foundations of Natural Gas Price Formation' defends the system of oil-indexed pricing as an accurate, market-based mechanism that has stood the test of time.

Industry Reviews

Starting from the long-term contracts that have been the basis of the natural gas industry since its foundation, but which are now out of favor in Europe, the author delves deeply into the complex interactions of factors in price formation that are often ignored in the rush to move away from long-term contracts and exposes the risks in moving too far in this direction. A must-read point of view of gas exporters to better understand the place gas can play in our energy transition. - Dr. Thierry Bros, Professor, Sciences Po, Paris, France.

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