Functioning of the Natural Gas Market 2200-EU005
Natural Gas Supply Chain
- Overview of the natural gas supply chain, including the upstream, midstream, and downstream components
- Discussion of the market and regulatory aspects of the natural gas industry, including pricing, safety, and environmental regulations.
- Examination of emerging trends and challenges in the natural gas industry, and the future outlook for the industry.
Natural Gas Market Fundamentals
- Overview of the natural gas market, including supply and demand, pricing mechanisms, and regional and global markets.
- Analysis of the environmental impact of natural gas and its role in the energy transition.
Development of EU Gas Market – Part I
- Overview of the three liberalization packages and their impact on the European gas market
Development of EU Gas Market – Part II
- Analysis of relations between gas market, electricity and CO2 allowances markets in EU.
- Discussion on the role of gas in energy transition
- Discussion of the role of natural gas is debates on future electricity market design.
Energy Security and its Implications for Natural Gas Markets
- Analysis of how energy security concerns are shaping natural gas markets, including investment decisions, trade policies, and supply diversification efforts
- Discussion of the potential risks and opportunities for natural gas in different regions, including the US, Europe, Russia, China, and the Middle East
- Explanation of how energy security concerns are driving innovation and technological advancements in the natural gas industry
Case study: Understanding the Gas Crisis of 2021/22
Natural Gas Pricing
- The factors that influence natural gas prices, including supply and demand, weather patterns, and geopolitical events
- The different types of natural gas contracts, such as fixed-price and index-based contracts, and their implications for natural gas pricing
- The role of natural gas price indices, such as Henry Hub and TTF, in setting natural gas prices
Natural Gas Risk Management
- The different types of risks associated with natural gas trading, including market risk, credit risk, and operational risk
- The risk management techniques used in the natural gas market, such as hedging and derivatives, to mitigate these risks
- The role of risk management strategies in natural gas trading, including risk appetite, risk tolerance, and risk limits
Natural Gas Markets in Comparative Perspective
- Differences and similarities among natural gas markets in different regions
- Challenges faced by natural gas markets in different regions
- Opportunities for cooperation and collaboration among natural gas markets in different regions
Natural Gas Infrastructure Development Dynamics in the EU
- Overview of the current state of gas infrastructure in Europe (focus on transmission and storage infrastructure)
- Examination of factors affecting infrastructure investment and development
- Discussion of development of natural gas infrastructure projects
- Financing of infrastructure projects
LNG Markets and Infrastructure
- Overview of the global LNG market, including supply and demand trends, major producers and consumers, and the role of LNG in the energy transition.
- Examination of the LNG trade and market structure, including pricing dynamics and infrastructure development challenges and opportunities.
Future outlook for the LNG market and its impact on global energy security and economic growth.
Gas Technologies in Transportation
- Overview of gas technologies’ application in transportation (road, maritime) and their competitiveness
Emerging Gas Technologies
- Overview of renewable natural gas potential and its role in reducing greenhouse gas emissions and enhancing energy security.
- Discussion of hydrogen as an emerging technology.
- Examination of carbon capture and utilization (or storage) as an option for improving the sustainability of the energy industry.
Type of course
Mode
Course coordinators
Learning outcomes
Knowledge: the graduate knows and understands
- types of activities and undertakings on energy markets including activities performed in the form of monopoly;
- functioning of electricity, natural gas, renewable and fossil fuels markets;
Skills: the graduate is able to
- list types of activities and undertakings on energy markets including activities performed in the form of monopoly;
- explain basic rules of the functioning of electricity, natural gas, renewable and fossil fuels markets;
- is able to use English to the extent that allows for independent completion of education and communication with specialists in the same or related specialization, in accordance with the requirements set out for level B2+ of the Common European Framework of Reference for Languages;
Bibliography
- bp Energy Outlook 2023, BP
- bp Statistical Review of World Energy 2022, BP
- World Energy Outlook 2023, International Energy Agency
- The European Gas Markets: Challenges and Opportunities, Hafner M., Tagliapietra S. (2017)
- Energy Security and Natural Gas Markets in Europe. Lessons from the EU and the United States, Boersma T. (2015)
- The EU Gas Market, LNG and Russia: Why the EU Needs to Stand Together, Łoskot-Strachota A. (2018).
Introduction to EU Gas Market Regulations:
- EU Gas Law, Griffin P., Belton A. (2019).
- EU Gas Law, Griffin P., Belton A. (2019).
Additional information
Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system: