Security of Supply for Natural Gas Markets. What is it and What is it Not?

26 Pages Posted: 28 Oct 2004

Date Written: September 2004

Abstract

The issue of security of gas supplies is frequently discussed on the basis of intuitive and non-systematic arguments. Greater import dependence is normally equated with greater insecurity, and strategic stocks are the risk management tool most commonly considered.

This paper strives to offer a systematic framework of analysis and shows that import dependence does not necessarily entail greater insecurity - actually, the opposite may well be the case. It also discusses several alternatives to strategic stocks for risk management, which are more interesting and promising.

Keywords: Natural gas market, Security of supply

JEL Classification: Q41, Q43

Suggested Citation

Luciani, Giacomo, Security of Supply for Natural Gas Markets. What is it and What is it Not? (September 2004). Available at SSRN: https://ssrn.com/abstract=600501 or http://dx.doi.org/10.2139/ssrn.600501

Giacomo Luciani (Contact Author)

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