Abstract for: Modeling the inner-European trade volumes of natural gas
The paper presents a subscripted model of the European gas market that aims on replicating inner-European gas flows. The model is tested and found consequential. The model is then used to analyze three scenarios: 1. The omission of long term contracts (LTC) 2. The increase of liquefied natural gas (LNG) capacities 3. The implementation of bi-directional pipeline flows The model is used to show the possible trends in the given scenarios. It was found that the omission of long term contracts lead to a need of more gas. Increased LNG capacities lead to more competition and the implementation of bi-directional flows increases the system’s flexibility.