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2019 | OriginalPaper | Chapter

22. Natural Gas Market

Author : Subhes C. Bhattacharyya

Published in: Energy Economics

Publisher: Springer London

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Abstract

This chapter introduces the specific features of the natural gas market and shows why the industry has developed in a different way than the oil industry. It then indicates the efforts being made to transform the regional markets into a global market. The economics of the gas market relevant to the developed and the developing countries is also presented.

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Footnotes
1
The Chinese are believed to have used natural gas around 500 BC for salt water desalination. Natural gas seepages were discovered in the United States in the 17th century and the first gas well was dug in 1821.
 
2
BP Statistical Review of World Energy has now changed its methodology of using a single emission factor for a given fuel and has adopted the IPCC 2006 Guidelines for National Greenhouse Gas Inventories. However, for the purpose of this example, the values remain relevant.
 
3
In this section, energy transformation has been combined with the traditional end-use sectors. The shares are relative to the primary energy demand (as opposed to final energy demand).
 
4
Excludes intra-regional trade
 
5
Thomas and Dawe (2003) indicate following other options: gas to liquids, compressed natural gas, gas to solids, gas to wire and gas to commodity.
 
6
The heat content of one barrel of WTI is 5.85 million Btu, so one-six of this produces 1 million Btu approximately.
 
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Metadata
Title
Natural Gas Market
Author
Subhes C. Bhattacharyya
Copyright Year
2019
Publisher
Springer London
DOI
https://doi.org/10.1007/978-1-4471-7468-4_22

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