Records with Keyword: Natural Gas
Showing records 1 to 25 of 129. [First] Page: 1 2 3 4 5 Last
The Influence of a Manifold Structure on the Measurement Results of a PIV Flowmeter
Huiyu Chen, Yilong Qiu, Hui Wang, Mengjie Gao
June 21, 2024 (v1)
Keywords: flow analysis, flow measurement, Natural Gas, PIV
The application of particle image velocimetry (PIV) technology for monitoring natural gas flow is a new method of flow measurement. Since the principle of this technology was proposed, there are still some potential issues. This article investigates the influence of a manifold structure on the measurement results of a PIV flowmeter. A comparison is performed between concentric and eccentric manifold structures, using a circular straight pipe as reference, in terms of the measurement error of the PIV flowmeter and the internal flow state of the natural gas. The results demonstrate that the manifold structure significantly affects the measurement reliability of the PIV flowmeter, especially the eccentric manifold structure. Under flow conditions ranging from 100 to 600 m3/h, the maximum measurement errors caused by the concentric and eccentric manifold structures are 2.49% and 3.05%, respectively, which show a noticeable increase compared to the maximum measurement error of 2.08% observe... [more]
Exergoeconomic Evaluation of a Cogeneration System Driven by a Natural Gas and Biomass Co-Firing Gas Turbine Combined with a Steam Rankine Cycle, Organic Rankine Cycle, and Absorption Chiller
Ji Liu, Jie Ren, Yujia Zhang, Weilong Huang, Chen Xu, Lu Liu
June 21, 2024 (v1)
Keywords: Biomass, cogeneration, dual fuel gas turbine, exergoeconomic analysis, multi-objective optimization, Natural Gas
Considering energy conversion efficiency, pollution emissions, and economic benefits, combining biomass with fossil fuels in power generation facilities is a viable approach to address prevailing energy deficits and environmental challenges. This research aimed to investigate the thermodynamic and exergoeconomic performance of a novel power and cooling cogeneration system based on a natural gas−biomass dual fuel gas turbine (DFGT). In this system, a steam Rankine cycle (SRC), a single-effect absorption chiller (SEAC), and an organic Rankine cycle (ORC) are employed as bottoming cycles for the waste heat cascade utilization of the DFGT. The effects of main operating parameters on the performance criteria are examined, and multi-objective optimization is accomplished with a genetic algorithm using exergy efficiency and the sum unit cost of the product (SUCP) as the objective functions. The results demonstrate the higher energy utilization efficiency of the proposed system with the therma... [more]
Vortex of a Symmetric Jet Structure in a Natural Gas Pipeline via Proper Orthogonal Decomposition
Lihao Li, Jiaxing Lu, Haoyu Zhao, Yilong Qiu
June 10, 2024 (v1)
Keywords: coherent structure, jet flow, Natural Gas, numerical simulation, POD
The impact of particle addition jets on the flow field in natural gas pipelines was investigated, and the structural information of the flow field at different flow velocities in a symmetric jet flow was analyzed via numerical simulation. The results of coherent structures in the high-pressure natural gas pipeline reveal vortex structures of varying sizes both upstream and downstream of the jet flow. To determine the spatial distribution of the main vortex structures in the flow field, proper orthogonal decomposition (POD) mode analysis was performed on the unsteady numerical results. Moreover, the detailed spatial characteristics of the coherent vortex structures represented by each mode were obtained. The results indicate that the large-scale vortex structures within the pipeline are balanced and stable, with their energy increasing as the jet flow velocity increases. Additionally, higher-order modes exhibit significant shedding of small-scale vortex structures downstream of the jet... [more]
Economic Modelling of Mixing Hydrogen with Natural Gas
Aleksejs Zacepins, Daniels Kotovs, Vitalijs Komasilovs, Armands Kviesis
June 7, 2024 (v1)
Keywords: CO2 reduction, economic evaluation, heat values, Hydrogen, Natural Gas
As global efforts intensify to transition toward cleaner and more sustainable energy sources, the blending of hydrogen with natural gas emerges as a promising strategy to reduce carbon emissions and enhance energy security. This study employs a systematic approach to assess the economic viability of hydrogen blending, considering factors such as gas costs and heat values. Various hydrogen blending scenarios are analyzed to determine the optimal blend ratios, taking into account both technical feasibility and economic considerations. The study discusses potential economic benefits, challenges, and regulatory implications associated with the widespread adoption of hydrogen−natural gas mixtures. Furthermore, the study explores the impact of this integration on existing natural gas infrastructure, exploring the potential for enhanced energy storage and delivery. The findings of this research contribute valuable insights to policymakers, industry stakeholders, and researchers engaged in the... [more]
Thermodynamically Efficient, Low-Emission Gas-to-Wire for Carbon Dioxide-Rich Natural Gas: Exhaust Gas Recycle and Rankine Cycle Intensifications
Israel Bernardo S. Poblete, José Luiz de Medeiros, Ofélia de Queiroz F. Araújo
June 5, 2024 (v1)
Keywords: carbon dioxide monetization, CCS, exhaust gas recycle, gas-to-wire, multi-criteria analysis, Natural Gas, post-combustion carbon capture, Process Intensification, thermodynamic analysis
Onshore gas-to-wire is considered for 6.5 MMSm3/d of natural gas, with 44% mol carbon dioxide coming from offshore deep-water oil and gas fields. Base-case GTW-CONV is a conventional natural gas combined cycle, with a single-pressure Rankine cycle and 100% carbon dioxide emissions. The second variant, GTW-CCS, results from GTW-CONV with the addition of post-combustion aqueous monoethanolamine carbon capture, coupled to carbon dioxide dispatch to enhance oil recovery. Despite investment and power penalties, GTW-CCS generates both environmental and economic benefits due to carbon dioxide’s monetization for enhanced oil production. The third variant, GTW-CCS-EGR, adds two intensification layers over GTW-CCS, as follows: exhaust gas recycle and a triple-pressure Rankine cycle. Exhaust gas recycle is a beneficial intensification for carbon capture, bringing a 60% flue gas reduction (reduces column’s diameters) and a more than 100% increase in flue gas carbon dioxide content (increases drivi... [more]
Energy Saving, Energy Efficiency or Renewable Energy: Which Is Better for the Decarbonization of the Residential Sector in Italy?
Marco Noro, Filippo Busato
April 28, 2023 (v1)
Keywords: Energy Efficiency, energy saving, heat pump, heat recovery, Natural Gas, renewables
The residential sector is currently responsible for approximately 30% of the final energy consumption and 12% of direct CO2 emissions in Italy, mainly due to the heating and cooling of buildings and the use of domestic hot water. Such figures show a significant potential for reducing non-renewable primary energy utilization to comply with the decarbonization constraints of the European Union. In this context, the purpose of this work is to provide a quantitative assessment of the effect of a different number of actions (eight for energy savings, four for energy efficiency and two for the installation of renewable energy plants) that could be implemented at the national level to reduce the consumption of natural gas in the residential sector. Two typical residential buildings are dynamically simulated using Trnsys®, and the savings from energy, economic and CO2 emissions points of view are evaluated in the different climatic zones of Italy. The most effective action foresees the replace... [more]
Forecasting of Day-Ahead Natural Gas Consumption Demand in Greece Using Adaptive Neuro-Fuzzy Inference System
Konstantinos Papageorgiou, Elpiniki I. Papageorgiou, Katarzyna Poczeta, Dionysis Bochtis, George Stamoulis
April 25, 2023 (v1)
Keywords: ANFIS, energy forecasting, fuzzy cognitive maps, Natural Gas, neural networks, neuro-fuzzy, prediction, soft computing
(1) Background: Forecasting of energy consumption demand is a crucial task linked directly with the economy of every country all over the world. Accurate natural gas consumption forecasting allows policy makers to formulate natural gas supply planning and apply the right strategic policies in this direction. In order to develop a real accurate natural gas (NG) prediction model for Greece, we examine the application of neuro-fuzzy models, which have recently shown significant contribution in the energy domain. (2) Methods: The adaptive neuro-fuzzy inference system (ANFIS) is a flexible and easy to use modeling method in the area of soft computing, integrating both neural networks and fuzzy logic principles. The present study aims to develop a proper ANFIS architecture for time series modeling and prediction of day-ahead natural gas demand. (3) Results: An efficient and fast ANFIS architecture is built based on neuro-fuzzy exploration performance for energy demand prediction using histor... [more]
Analysis of Changes in Natural Gas Physical Flows for Europe via Ukraine in 2020
Filip Božić, Daria Karasalihović Sedlar, Ivan Smajla, Ivana Ivančić
April 24, 2023 (v1)
Keywords: gas transmission system, Natural Gas, natural gas physical flows, pipelines, Ukraine
The main objective of the paper was comparative analyses of natural gas quantities delivered through the existing pipeline capacities in the last decade and new pipeline capacities for the prediction of possible future flows of gas import to Europe. Changes in physical flows have been influenced by European energy strategies that became green oriented resulting with a high amount of non-utilized transmission capacities. The research findings have shown that there is a significant decrease observed in transit of Russian gas through Ukraine in 2020 than previously. Concerning the high increase of LNG import to Europe in the same year, the start of operation of TurkStream, planned start of operation of Nord stream 2, authors project the gradual decrease of transit of Russian gas through Ukraine until the year 2025 with the total stop of transit of Russian gas until the year 2030. The change of supply routes will be also under the economic influence of low gas prices and coal and gas fuel... [more]
Hold-Up Problems in International Gas Trade: A Case Study
Guych Nuryyev, Tomasz Korol, Ilia Tetin
April 24, 2023 (v1)
Keywords: gas wars, hold-up problem, Natural Gas, transit country
The infrastructure required for international natural gas trade is considerable, which often leads to hold-up problems and supply disruptions. This study discusses disruptions of gas supply from Algeria, Indonesia, Russia, and Turkmenistan since the early 1980s. The novelty of this study is its focus on the issues related to transit countries, which are rarely considered in the literature. The results of the study classify supply disruptions into six types, show the evolution of supply disruptions over time, and discuss mitigation strategies. The six types of disruptions include political change, price demands, debts, technical issues, transit fees, theft of gas. The evolution of the disruptions shows that the issues related to transit countries have become more frequent in the last two decades. Mitigation strategies tailored to transit countries include using an international organisation, designing contracts with price mechanisms that might reduce the possibility of disputes and redu... [more]
Long-Term Natural Gas Consumption Forecasting Based on Analog Method and Fuzzy Decision Tree
Bartłomiej Gaweł, Andrzej Paliński
April 24, 2023 (v1)
Keywords: analog forecasting, fuzzy decision tree, long-term forecasting, Natural Gas
Classic forecasting methods of natural gas consumption extrapolate trends from the past to subsequent periods of time. The paper presents a different approach that uses analogues to create long-term forecasts of the annual natural gas consumption. The energy intensity (energy consumption per dollar of Gross Domestic Product—GDP) and gas share in energy mix in some countries, usually more developed, are the starting point for forecasts of other countries in the later period. The novelty of the approach arises in the use of cluster analysis to create similar groups of countries and periods based on two indicators: energy intensity of GDP and share of natural gas consumption in the energy mix, and then the use of fuzzy decision trees for classifying countries in different years into clusters based on several other economic indicators. The final long-term forecasts are obtained with the use of fuzzy decision trees by combining the forecasts for different fuzzy sets made by the method of re... [more]
Geological Characterization of the 3D Seismic Record within the Gas Bearing Upper Miocene Sediments in the Northern Part of the Bjelovar Subdepression—Application of Amplitude Versus Offset Analysis and Artificial Neural Network
Tihana Ružić, Marko Cvetković
April 21, 2023 (v1)
Keywords: 3D seismic, amplitude versus offset, artificial neural networks, Croatia, Natural Gas, Pannonian Basin
As natural gas reserves are generally decreasing there is a need to successfully characterize potential research objects using geophysical data. Presented is a study of amplitude vs. offset, attribute and artificial neural network analysis on a research area of a small gas field with one well with commercial accumulations and two wells with only gas shows. The purpose of the research is to aid in future well planning and to distinguish the geophysical data in dry well areas with those from an economically viable well. The amplitude vs. offset analysis shows the lack of anomaly in the wells with only gas shows while the anomaly is present in the economically viable well. The artificial neural network analysis did not aid in the process of distinguishing the possible gas accumulation but it can point out the sedimentological and structural elements within the seismic volume.
Emission Mitigation and Energy Security Trade-Off: Role of Natural Gas in the Indian Power Sector
Nandini Das, Shyamasree Dasgupta, Joyashree Roy, Oluf Langhelle, Mohsen Assadi
April 21, 2023 (v1)
Subject: Energy Policy
Keywords: Coal, energy security, energy transition, India, Natural Gas, Renewable and Sustainable Energy
India’s Nationally Determined Contributions (NDC) aim to increase the share of non-fossil fuel, especially renewables, in power generation. But at the same time, it mentions that coal is likely to dominate the power generation in the short and medium term to meet the increase in demand and support the intermittency of renewable energy-based power generation. Thus, additional efforts to transform the thermal power generation to a more efficient and less emitting one in the near term by increasing the use of natural gas (a fossil fuel with a lower emission factor than coal) may be planned towards achieving India’s additional mitigation commitments. The paper presents the implications of a proposed increase in the share of natural gas in thermal power generation of India by looking into the trade-off between emission mitigation and energy security. Along with a Reference Scenario, three alternative emission scenarios are proposed to understand the likely impacts of increased penetration o... [more]
Complementing Syngas with Natural Gas in Spark Ignition Engines for Power Production: Effects on Emissions and Combustion
Carlo Caligiuri, Urban Žvar Baškovič, Massimiliano Renzi, Tine Seljak, Samuel Rodman Oprešnik, Marco Baratieri, Tomaž Katrašnik
April 20, 2023 (v1)
Keywords: combustion, Natural Gas, renewable fuels, spark ignition engines, Syngas
Power generation units based on the bio-syngas system face two main challenges due to (i) the possible temporary shortage of primary sources and (ii) the engine power derating associated with the use of low-energy density fuels in combustion engines. In both cases, an external input fuel is provided. Hence, complementing syngas with traditional fuels, like natural gas, becomes a necessity. In this work, an experimental methodology is proposed, aiming at the quantification of the impact of the use of both natural gas and syngas in spark ignition (SI) engines on performance and emissions. The main research questions focus on investigating brake thermal efficiency (BTE), power derating, and pollutant emission (NOx, CO, THC, CO2) formation, offering quantitative findings that present the basis for engine optimization procedures. Experimental measurements were performed on a Toyota 4Y-E engine (a 4-cylinders, 4-stroke spark ignition engine) at partial load (10 kW) under different syngas ene... [more]
Prospective of Upfront Nitrogen (N2) Removal in LNG Plants: Technical Communication
Fares Almomani, Asmaa Othman, Ajinkya Pal, Easa I. Al-Musleh, Iftekhar A. Karimi
April 20, 2023 (v1)
Keywords: energy recovery, Natural Gas, nitrogen removal, process optimization
Conventional natural gas (NG) liquefaction processes remove N2 near the tail of the plant, which limits production capacity and decreases energy efficiency and profit. Engineering calculations suggest that upfront N2 removal could have substantial economic benefits on large-scale liquefied natural gas (LNG) processes. This article provides an overview of the most promising technologies that can be employed for upfront N2 removal in the LNG process, focusing on the process selection and design considerations of all currently available upfront N2 removal technologies. The literature review revealed that although adsorption has proven to be a huge success in gas separation processes (efficiency ≥ 90%), most of the available adsorbents are CH4-selective at typical NG conditions. It would be more encouraging to find N2-selective adsorbents to apply in upfront N2 removal technology. Membrane gas separation has shown growing performance due to its flexible operation, small footprint, and redu... [more]
Comparative Study on Chemical Kinetics Mechanisms for Methane-Based Fuel Mixtures under Engine-Relevant Conditions
Amin Paykani
April 20, 2023 (v1)
Keywords: engine-relevant condition, ignition delay time, laminar flame speed, mechanisms, Natural Gas
The use of natural gas in pure or in a blended form with hydrogen and syngas in spark ignition (SI) engines has received much attention in recent years. They have higher diffusion coefficient and laminar flame speed, a small quenching distance and wider flammability limit which compensate the demerits of the lean-burn natural gas combustion. Therefore, a careful examination of the chemical kinetics of combustion of gaseous fuel blends is of great importance. In this paper, performance of the various chemical kinetics mechanisms is compared against experimental data, accumulated for methane-based fuel blends under engine-relevant conditions to find the most appropriate mechanism in engine simulations. Pure methane, methane/syngas, and methane/propane blends are mainly studied at various temperatures, pressures, and equivalence ratios. The ignition delay time and laminar flame speed are used as quantitative metrics to compare the simulation results with the data from experiments. The mec... [more]
Valuation of Energy Security for Natural Gas—European Example
Piotr Kosowski, Katarzyna Kosowska
April 19, 2023 (v1)
Subject: Energy Policy
Keywords: Energy, energy security, Europe, Natural Gas, UGS, underground gas storage, valuation
Recently there has been an ongoing discussion about energy security. This has been caused by tensions affecting international relations, and the emergence of new geopolitical threats. As one of the main sources of primary energy, natural gas is an obvious subject of interest in this discussion. In Europe, the natural gas market is rapidly evolving, which has resulted in a lack of clarity regarding who is responsible for the security of the gas supply. It is not clear now how to measure the security of the gas supply in economic estimates and by whom that security should be financed. In this paper, the authors present an approach which can be used for valuation of energy security concerning the security of natural gas storage using stochastic modelling based on the mathematical model of the “Newsvendor problem”. The valuation is made from the point of view of countries and considers their individual attitudes to the risk of disruption of deliveries, which is a novel approach to the prob... [more]
Non-Catalytic Partial Oxidation of Hydrocarbon Gases to Syngas and Hydrogen: A Systematic Review
Iren A. Makaryan, Eugene A. Salgansky, Vladimir S. Arutyunov, Igor V. Sedov
April 18, 2023 (v1)
Keywords: conversion, Hydrogen, methane, Modelling, Natural Gas, non-catalytic partial oxidation, reactor, synthesis gas
The review contains a comparative analysis of studies on the production of hydrogen and syngas based on the processes of partial oxidation of natural gas and other types of gas feedstock. The results presented in the literature show the high potential of non-catalytic autothermal processes of partial oxidation of hydrocarbons for the development of gas chemistry and energetics. The partial oxidation of hydrocarbons makes it possible to overcome such serious shortcomings of traditional syngas production technologies as technological complexity and high energy and capital intensity. The features of non-catalytic partial oxidation of hydrocarbon gases, the obtained experimental results and the results of kinetic modeling of various options for the implementation of the process, which confirm the adequacy of the kinetic mechanisms used for the analysis, are considered in detail. Examples of industrial implementation of processes based on partial oxidation and proposed alternative options f... [more]
Design of a Device and System to Study the Liquid−Solid-Phase Equilibrium Experiment of CO2 in PLNG
Jianlu Zhu, Zihe Li, Yuxing Li
April 17, 2023 (v1)
Keywords: Carbon Dioxide, liquid–solid-phase equilibrium, low-temperature and high-pressure apparatus, Natural Gas
Pressurized liquefied natural gas (PLNG) is a new natural gas liquefaction solution proposed in recent years for reducing the construction and operating costs of floating liquefied natural gas (FLNG). For natural gas, the liquefaction temperature is strongly influenced by the pressure; when the pressure increases, the liquefaction temperature of natural gas increases accordingly. The increase in the liquefaction temperature of natural gas leads to a higher solubility of impurities such as carbon dioxide, which means that the pretreatment standards for liquefied natural gas can be reduced. Therefore, the use of PLNG technology can simplify pretreatment plants and significantly reduce construction and operating costs. In order to better apply PLNG technology to FLNG, it is necessary to understand the solubility of carbon dioxide in pressurized LNG and the phase change during liquefaction. To achieve this, experimental setups are needed to simulate the temperature and pressure environment... [more]
The Equivalent Effect of Initial Condition Coupling on the Laminar Burning Velocity of Natural Gas Diluted by CO2
Xueshun Wu, Peng Wang, Zhennan Zhu, Yunshou Qian, Wenbin Yu, Zhiqiang Han
April 13, 2023 (v1)
Keywords: equivalent effect, influence weight, laminar burning velocity, Natural Gas
Initial temperature has a promoting effect on laminar burning velocity, while initial pressure and dilution rate have an inhibitory effect on laminar burning velocity. Equal laminar burning velocities can be obtained by initial condition coupling with different temperatures, pressures and dilution rates. This paper analysed the equivalent distribution pattern of laminar burning velocity and the variation pattern of an equal weight curve using the coupling effect of the initial pressure (0.1−0.3 MPa), initial temperature (323−423 K) and dilution rate (0−16%). The results show that, as the initial temperature increases, the initial pressure decreases and the dilution rate decreases, the rate of change in laminar burning velocity increases. The equivalent effect of initial condition coupling can obtain equal laminar burning velocity with an dilution rate increase (or decrease) of 2% and an initial temperature increase (or decrease) of 29 K. Moreover, the increase in equivalence ratio lead... [more]
Emissions Effects of Energy Storage for Frequency Regulation: Comparing Battery and Flywheel Storage to Natural Gas
Eric Pareis, Eric Hittinger
April 13, 2023 (v1)
Keywords: battery, emissions, flywheel, frequency regulation, Natural Gas
With an increase in renewable energy generation in the United States, there is a growing need for more frequency regulation to ensure the stability of the electric grid. Fast ramping natural gas plants are often used for frequency regulation, but this creates emissions associated with the burning of fossil fuels. Energy storage systems (ESSs), such as batteries and flywheels, provide an alternative frequency regulation service. However, the efficiency losses of charging and discharging a storage system cause additional electrical generation requirements and associated emissions. There is not a good understanding of these indirect emissions from charging and discharging ESSs in the literature, with most sources stating that ESSs for frequency regulation have lower emissions, without quantification of these emissions. We created a model to estimate three types of emissions (CO2, NOX, and SO2) from ESSs providing frequency regulation, and compare them to emissions from a natural gas plant... [more]
A Review on CO2 Capture Technologies with Focus on CO2-Enhanced Methane Recovery from Hydrates
Salvatore F. Cannone, Andrea Lanzini, Massimo Santarelli
April 13, 2023 (v1)
Keywords: carbon capture and storage (CCS), Carbon Dioxide Capture, CO2 replacement, CO2 storage, CO2 transportation, economic analysis, gas hydrate, membrane technology, Natural Gas, Renewable and Sustainable Energy
Natural gas is considered a helpful transition fuel in order to reduce the greenhouse gas emissions of other conventional power plants burning coal or liquid fossil fuels. Natural Gas Hydrates (NGHs) constitute the largest reservoir of natural gas in the world. Methane contained within the crystalline structure can be replaced by carbon dioxide to enhance gas recovery from hydrates. This technical review presents a techno-economic analysis of the full pathway, which begins with the capture of CO2 from power and process industries and ends with its transportation to a geological sequestration site consisting of clathrate hydrates. Since extracted methane is still rich in CO2, on-site separation is required. Focus is thus placed on membrane-based gas separation technologies widely used for gas purification and CO2 removal from raw natural gas and exhaust gas. Nevertheless, the other carbon capture processes (i.e., oxy-fuel combustion, pre-combustion and post-combustion) are briefly discu... [more]
The North Caucasus Region as a Blind Spot in the “European Green Deal”: Energy Supply Security and Energy Superpower Russia
José Antonio Peña-Ramos, Philipp Bagus, Dmitri Amirov-Belova
April 12, 2023 (v1)
Keywords: clean energies, energy markets, energy studies, global economics and cross-cultural management, Natural Gas, North Caucasus, oil, post-soviet conflicts, renewable energies, Russia
The “European Green Deal” has ambitious aims, such as net-zero greenhouse gas emissions by 2050. While the European Union aims to make its energies greener, Russia pursues power-goals based on its status as a geo-energy superpower. A successful “European Green Deal” would have the up-to-now underestimated geopolitical advantage of making the European Union less dependent on Russian hydrocarbons. In this article, we illustrate Russian power-politics and its geopolitical implications by analyzing the illustrative case of the North Caucasus, which has been traditionally a strategic region for Russia. The present article describes and analyses the impact of Russian intervention in the North Caucasian secessionist conflict since 1991 and its importance in terms of natural resources, especially hydrocarbons. The geopolitical power secured by Russia in the North Caucasian conflict has important implications for European Union’s energy supply security and could be regarded as a strong argument... [more]
Hoard or Exploit? Intergenerational Allocation of Exhaustible Natural Resources
Hala Abu-Kalla, Ruslana Rachel Palatnik, Ofira Ayalon, Mordechai Shechter
April 12, 2023 (v1)
Keywords: economic welfare, Energy, exhaustible resource, general equilibrium model, Natural Gas, sovereign wealth fund (SWF)
In this paper, a “general equilibrium” (GE) model was developed for the allocation of exhaustible natural resources to examine the impact of different extraction scenarios on intergenerational economic welfare. A stylized GE model was applied to Israel’s natural gas (NG) market to evaluate economic indicators resulting from NG-extraction scenarios: a baseline scenario based on current policy in the NG sector, a conservative scenario based on a lower extraction rate, and an intensive scenario based on a faster extraction rate. The impact of various resource income-allocation strategies on intergenerational economic welfare was examined through the mechanism of a “sovereign wealth fund” (SWF). The results indicate that a higher NG-extraction rate combined with an appropriate investment strategy for NG profits is preferable from an economic perspective compared to a conservative rate. Investment of the government take from the NG market in research and development (R&D) of renewable elect... [more]
Energy Prices and COVID-Immunity: The Case of Crude Oil and Natural Gas Prices in the US and Japan
Honorata Nyga-Łukaszewska, Kentaka Aruga
April 11, 2023 (v1)
Keywords: ARDL, COVID-19, crude oil, energy shock, Natural Gas
The COVID-19 pandemic storm has struck the world economies and energy markets with extreme strength. The goal of our study is to assess how the pandemic has influenced oil and gas prices, using energy market reactions in the United States and Japan. To investigate the impact of the COVID-19 cases on the crude oil and natural gas markets, we applied the Auto-Regressive Distributive Lag (ARDL) approach to the number of the US and Japanese COVID-19 cases and energy prices. Our study period is from 21 January 2020 to 2 June 2020, and uses the latest data available at the time of model calibration and captures the so-called “first pandemic wave”. In the US, the COVID-19 pandemic had a statistically negative impact on the crude oil price while it positively affected the gas price. In Japan, this negative impact was only apparent in the crude oil market with a two-day lag. Possible explanations of the results may include differences in pandemic development in the US and Japan, and the diverse... [more]
The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution
Pablo Ponce, Cristiana Oliveira, Viviana Álvarez, María de la Cruz del Río-Rama
April 4, 2023 (v1)
Subject: Environment
Keywords: CO2 emissions, electricity, liberalization, Natural Gas, Renewable and Sustainable Energy
From an empirical point of view, the liberalization of the internal energy market reduces carbon dioxide emissions, promoting a wider range of renewable energy sources. The aim of this paper is to examine the effect of the liberalization of the internal energy market on CO2 emissions, which was implemented in the European Union in 2011. The research data cover 27 countries of the European Union during the period 2004−2017 and was processed by estimating a two-way effects econometric model. The results suggest that the liberalization of the internal energy market is negatively related to CO2 emissions; the policy was effective in reducing CO2 emissions and, therefore, slowing down climate change. This result is significant at the level of the European Union, and in high-income countries since the year the policy was implemented, being different in the upper-middle-income countries, which begins to be effective after two years, which is due to the economic characteristics of the countrie... [more]
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