We develop a game theoretic model for shared natural gas storage facilities. We analyse the effects of strategic interaction, given that deliverability is a function of overall pressure within the store, on the expected value of the storage facility in equilibrium. Our results have significant implications for the economic efficiency of storage facilities, price stability in the gas market and ...

In this paper, we propose a one-factor regime-switching model for the risk adjusted natural gas spot price and study the implications of the model on the valuation and optimal operation of natural gas storage facilities. We calibrate the model parameters to both market futures and options on futures. Calibration results indicate that the regime-switching model is a better fit to market data com...

Adsorbed natural gas has various advantages and is relatively more economical than liquefaction and compression. Carbon nanotubes can be introduced as a new candidate for natural gas storage. In this study, adsorption of methane was firstly studied on the as-prepared multi-walled carbon nanotubes, and then chemical and physical treatment of MWCNTs was performed to enhance the methane adsorp...

We analyse a stochastic control problem for the valuation of a natural gas storage facility while taking into account operating characteristics. The underlying natural gas spot price dynamics is assumed to follow a time-inhomogeneous exponential Lévy process [6]. This underlying incorporates common features of gas spot prices such as seasonality, mean-reversion and price spikes with seasonal ju...

Compressibility factor and viscosity of natural gasses are of great importance in petroleum and chemical engineering. To calculate the natural gas properties in the pipelines, storage systems and reservoirs, the exact values of gas compressibility factor and viscosity are required. A new method that allows accurate determination of compressibility factor and gas viscosity for all types of: swee...

The aim of this paper is to examine the impact of temperature shock on both near-month and far-month natural gas and heating oil futures returns by extending the weather and storage models of the previous study. Several notable findings from the empirical studies are presented. First, the expected temperature shock significantly and positively affects both the near-month and far-month natural g...