Search results for "Natural gas"
showing 2 items of 72 documents
Theory of storage implications in the European natural gas market
2023
The theory of storage stands that futures prices should be equal to the spot price plus the interest forgone in storing the commodity and the warehousing costs minus the convenience yield on the inventory. In this paper, we test several implications of the theory of storage on the pricing of United Kingdom natural gas futures. We obtain partial evidence for the theory of storage as a complete explanation of the pricing of this futures contract. Explicitly, (i) we obtain evidence to explain convenience yield seasonality with spot price volatility, unexpected demand shocks when supply is tight, inventory variations, and trading activity in the futures markets; (ii) we obtain indirect evidence…
Some aspects of quality and risk management in natural gas measurement
2019
The paper refers to some general aspects regarding the natural gas measurement. In this paper, we try to find methods for checking the quality and risks for gas meters. It is trying to find answers to the question of how we could design and operate a gas meter so that the measurement is as accurate as possible. A process has been proposed to identify, analyze and control the emerging risks. The desirable quality of the measuring instrument requires a rigorous analysis of all aspects that could adversely affect. It also shows the interdependence between quality and risk, one can not exist without the other. Based on these principles, the following papers propose the approach of case studies …