Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/235717 
Erscheinungsjahr: 
2021
Quellenangabe: 
[Journal:] Research in International Business and Finance [ISSN:] 0275-5319 [Volume:] 58 [Article No.:] 101460 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2021
Verlag: 
Elsevier, Amsterdam
Zusammenfassung: 
State-of-the-art, open access numerical modeling of imperfectly competitive energy markets offers a sound and transparent way to address topical research questions in energy and commodity markets. We use an open access equilibrium model, the Global Gas Model (GGM), and sector-specific, politically motivated scenarios to investigate the prospects for sales of liquefied natural gas (LNG) from the U.S. into the European energy market. We discuss the risks and opportunities for U.S. LNG and derive implications for policy, business, and finance in the energy sector. We find that Europe is not an attractive market for US LNG in the base case and in scenarios of moderate support of U.S. LNG flows into Europe. In these scenarios, Asia offers higher prices for US LNG and draws substantially higher import volumes. Our modeling results show that the interconnectedness of global gas markets due to an abundance of LNG import capacity in Europe and other regions—particularly Asia—allows for adjustments to global trade patterns that mitigate the consequences of regional disturbances.
Schlagwörter: 
Numerical modeling
Natural gas
Liquefied natural gas
Energy policy
USA
Europe
JEL: 
C61
L13
L95
Q34
Q37
Q48
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Dokumentart: 
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Dokumentversion: 
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