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| 1 |
ID:
192730
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| Summary/Abstract |
Russia's weaponization of gas supplies caused a shock to the energy security of Central and Eastern Europe in 2022. Countries responded by increasing alternative energy supplies and developing new natural gas supply routes, namely through increased LNG import capacity and new interconnectors. At the same time, market forces in the form of higher prices largely ensured an efficient allocation of scarce gas across the region and encouraged the necessary savings. We examine how gas flows to and within the region have been changing in the short- and medium-term and explore the role of renewable and nuclear energy as well as hydrogen in the long-term. We conclude that mitigating the effects of this shock requires the EU to prioritize policies that foster the integrity of its energy market. Government policies and higher fossil fuel prices will encourage the build-up of renewables, increasing energy security medium term. Only in combination with consistently high energy savings and the procurement and distribution of sufficient gas volumes from the global LNG market can Russian supplies be replaced. It is thus the interplay of supply and demand measures that allowed Central and Eastern Europe to withstand the extraordinary shock of 2022.
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| 2 |
ID:
110581
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| Publication |
2011,
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| Summary/Abstract |
This paper analyzes the value and cost of line-pack flexibility in liberalized gas markets through examination of the techno-economic characteristics of gas transport pipelines and the trade-offs between different ways to use the infrastructure: transport and flexibility. Line-pack flexibility is becoming increasingly important as a tool to balance gas supply and demand over different periods. In the European liberalized market context, a monopolist unbundled network operator offers regulated transport services and flexibility (balancing) services according to the network code and balancing rules. Therefore, gas policy makers should understand the role and consequences of line-pack regulation. The analysis shows that the line-pack flexibility service has an important economic value for the shippers and the TSO. Furthermore, the analysis identifies distorting effects in the gas market due to inadequate regulation of line-pack flexibility: by disregarding the sunk costs of flexibility in the balancing rules, the overall efficiency of the gas system is decreased. Finally, the analysis demonstrates that the actual costs of line-pack flexibility are related to the peak cumulative imbalance throughout the balancing period. Any price for pipeline flexibility should, therefore, be based on the related trade-off between the right to use the line-pack flexibility and the provision of transport services
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