OSIČKA, Jan, Filip ČERNOCH, Tomáš DRÁB, Tomáš MARTANOVIČ and Jiří VLČEK. Natural Gas Reverse Flows in the Danube Strategy Region. Current State and Outlook. Online. Praha: The Office of the Government of the Czech Republic, 2015, 111 pp. ISBN 978-80-210-8161-1.
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Basic information
Original name Natural Gas Reverse Flows in the Danube Strategy Region. Current State and Outlook
Authors OSIČKA, Jan (203 Czech Republic, guarantor, belonging to the institution), Filip ČERNOCH (203 Czech Republic, belonging to the institution), Tomáš DRÁB (203 Czech Republic, belonging to the institution), Tomáš MARTANOVIČ (203 Czech Republic, belonging to the institution) and Jiří VLČEK (203 Czech Republic, belonging to the institution).
Edition Praha, 111 pp. 2015.
Publisher The Office of the Government of the Czech Republic
Other information
Original language English
Type of outcome Book on a specialized topic
Field of Study 50601 Political science
Country of publisher Czech Republic
Confidentiality degree is not subject to a state or trade secret
Publication form electronic version available online
WWW URL
RIV identification code RIV/00216224:14230/15:00087240
Organization unit Faculty of Social Studies
ISBN 978-80-210-8161-1
Keywords in English Natural gas; interconnector; Danube Region; Russia; energy security; market;
Changed by Changed by: doc. Mgr. Jan Osička, Ph.D., učo 134705. Changed: 7/4/2016 01:33.
Abstract
The continental natural gas market has undergone profound changes in recent years. Within a very short timeframe, the global economic crisis and the silent unconventional gas revolution in the U.S. have together shifted the global LNG market into a buyer’s market. The resulting LNG glut in the Atlantic basin has crushed natural gas prices and greatly incentivized hub trading schemes over prevailing long-term contract arrangements. What we can now observe in Western Europe is an expansion of gas-to-gas competition based short term trading or spot-indexed contracts, which dramatically changes an environment that was originally designed to provide the suppliers with stable revenues over long periods of time in order to justify the large capital investments in developing the resources and necessary infrastructure. In Central and Eastern Europe (CEE), this system has been maintained mostly by Gazprom’s interests in the region. In this context, it is remarkable that many CEE countries were only able to take advantage of the changes which are happening in the Western Europe, and which pose a major challenge for the Gazprom export model due to the measures they have undertaken, after the gas crises of 2006 and 2009. Among these measures, bi-directional interconnectors (BDICs) play a substantial role. Nearly a decade after the 2006 crisis, it is now a good time to look at the ways they have been implemented, what changes they have introduced, and how they fit into the game-changing events of the past few years.
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