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: Suggested Citation
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