Development of Europe's gas hubs: Implications for East Asia

Shi, X

Development of Europe's gas hubs: Implications for East Asia

Shi, X

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Publisher:: Elsevier BV
Publication Type:: Journal Article
Citation:: Natural Gas Industry B, 2016, 3, (4), pp. 357-366
Issue Date:: 2016-10-01

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Field	Value	Language
dc.contributor.author	Shi, X https://orcid.org/0000-0001-9653-7395
dc.date.accessioned	2022-02-14T09:17:35Z
dc.date.available	2022-02-14T09:17:35Z
dc.date.issued	2016-10-01
dc.identifier.citation	Natural Gas Industry B, 2016, 3, (4), pp. 357-366
dc.identifier.issn	2352-8540
dc.identifier.issn	2352-8559
dc.identifier.uri	http://hdl.handle.net/10453/154504
dc.description.abstract	Gas trading hubs have been initially developed in the US in 1980s, UK in 1990s, more recently in European in the 2000s and mulled in East Asia now. Due to its freshness and diversification in nationality, governance and culture, the European hub experience can offer valuable lessons for East Asia. This paper seeks to advance understanding of gas hub development in Europe and provide lessons for East Asia. The European experience highlights that market liberalization and transition of gas pricing mechanism are necessary in creating the competitive markets that are needed for functional gas hubs. Political will and regulations further safeguard the competition environment needed for hub development. Natural factors, such as significant domestic production and culture could have a significant impact on the hub development and transition of pricing mechanism. In East Asia, the path to gas trading hubs might be more difficult than in Europe but a growing market creates an opportunity to start new terms with new contracts. Nevertheless, East Asian needs to work hard to development its indigenous gas or LNG trading hubs.
dc.language	en
dc.publisher	Elsevier BV
dc.relation.ispartof	Natural Gas Industry B
dc.relation.isbasedon	10.1016/j.ngib.2016.11.001
dc.rights	info:eu-repo/semantics/openAccess
dc.title	Development of Europe's gas hubs: Implications for East Asia
dc.type	Journal Article
utslib.citation.volume	3
utslib.for	1402 Applied Economics
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/DVC (International)
pubs.organisational-group	/University of Technology Sydney/DVC (International)/Australia-China Relations Institute
utslib.copyright.status	open_access	*
dc.date.updated	2022-02-14T09:17:34Z
pubs.issue	4
pubs.publication-status	Published
pubs.volume	3
utslib.citation.issue	4

Abstract:

Gas trading hubs have been initially developed in the US in 1980s, UK in 1990s, more recently in European in the 2000s and mulled in East Asia now. Due to its freshness and diversification in nationality, governance and culture, the European hub experience can offer valuable lessons for East Asia. This paper seeks to advance understanding of gas hub development in Europe and provide lessons for East Asia. The European experience highlights that market liberalization and transition of gas pricing mechanism are necessary in creating the competitive markets that are needed for functional gas hubs. Political will and regulations further safeguard the competition environment needed for hub development. Natural factors, such as significant domestic production and culture could have a significant impact on the hub development and transition of pricing mechanism. In East Asia, the path to gas trading hubs might be more difficult than in Europe but a growing market creates an opportunity to start new terms with new contracts. Nevertheless, East Asian needs to work hard to development its indigenous gas or LNG trading hubs.

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http://hdl.handle.net/10453/154504