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Vertical Integration In The Natural Gas Value Chain
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Book Synopsis Vertical Integration in the Natural Gas Value Chain by : Svetlana Sailer
Download or read book Vertical Integration in the Natural Gas Value Chain written by Svetlana Sailer and published by . This book was released on 2013-09 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2009 in the subject Economy - Theory of Competition, Competition Policy, grade: 1,7, Technical University of Berlin (Institut fur Volkswirtschaftslehre und Wirtschaftsrecht (IVWR)), course: Infrastruktur- und Wettbewerbspolitik, language: English, abstract: This case study analyses the structure and the corporate strategies of the German and European natural gas sector. It shows the determining factors for companies concerning vertical integration and will explain the main theories why companies do vertical integration or hybrid forms like long-term contracts. Our main hypothesis is that especially uncertainty, asset specificity and high transaction costs can increase vertical integration. Along the value chain of the natural gas industry we will test if these determinants still exist and if there are other determinants for vertical integration. In particular we will have a look on the interface between transport and distribution and as well on the interface between extraction and production. We will test the production cost-, neoclassical- and transaction cost approach on these interfaces. In times of globalization, raising energy demand and energy prizes, the supply with natural gas becomes more and more important. Especially the dependency of Western Europe in general and Germany in particular from foreign exports forces the governments to secure energy supply in cooperation with all market participants. For the period of the last 25 years the structure of natural gas markets worldwide changed significantly in technical, institutional and economic settings. The aim of several liberalization processes in the natural gas market by the German government and the European Union was a creation of competitive markets and breaking up monopolistic (vertically integrated) structures in the natural gas industry. (Neumann, Hirschhausen 2006, p.5) Even though there is still vertical integration taking place and some regional markets are nearly mon
Book Synopsis Breaking up the Global Value Chain by : Torben Pedersen
Download or read book Breaking up the Global Value Chain written by Torben Pedersen and published by Emerald Group Publishing. This book was released on 2017-08-18 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent developments are challenging the traditional separation between advanced and emerging economies as host of knowledge and production-intensive activities, respectively. Authors assess whether the co-location of R&D and manufacturing is critical for development and innovation.
Book Synopsis Vertical Integration and Long Term Contracts in the Natural Gas Industry by : John Harold Mulherin
Download or read book Vertical Integration and Long Term Contracts in the Natural Gas Industry written by John Harold Mulherin and published by . This book was released on 1984 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Vertical Structures in the Global Liquefied Natural Gas Market by :
Download or read book Vertical Structures in the Global Liquefied Natural Gas Market written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last decade, the global liquefied natural gas (LNG) market altered substantially. Significant investments have been realized, traded volumes increased and contracting structures gained in flexibility. Various governance forms co-exist, including the poles of spot market transactions and vertical integration as well as numerous hybrid forms such as long-term contracts, joint ventures, and strategic partnerships. This dissertation empirically investigates, based on transaction cost economics and recent extensions thereof, which motivations drive companies towards the choice of hierarchical governance forms. First, the likelihood of vertical integration and the impact of inter-organizational trust as a shift parameter accounting for differences in the institutional environment are analyzed. Estimation results confirm transaction cost economics by showing that relationship-specific investments in an uncertain environment drive LNG companies to invest in successive stages along the value chain. Furthermore, the presence of inter-organizational trust increases the likelihood of less hierarchical governance modes. Second, alternative theories of the firm are linked in order to explain the menu of strategic positions recently observed in this dynamic market. Estimation results support the positioning-economizing perspective of the firm. The three strategic choices of target market position, resource profile, and organizational structure are interdependent. Third, the determinants of optimal contract length as a trade-off between the minimization of transaction costs due to repeated bilateral bargaining and the risk of being bound in an inflexible agreement in uncertain environments is discussed. Estimation results show that the presence of high asset specificity results in longer contracts whereas the need for flexibility in today's LNG market supports shorter agreements. When firms have experience in bilateral trading, contract duration decreases. In addition, c.
Book Synopsis Is Vertical Integration Profitable? by : Buzzell
Download or read book Is Vertical Integration Profitable? written by Buzzell and published by . This book was released on 1983-01-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Vertical Integration in the Oil Industry by : Edward John Mitchell
Download or read book Vertical Integration in the Oil Industry written by Edward John Mitchell and published by National Energy Study. This book was released on 1976 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Market Structure, Vertical Integration, and Long Term Contracts in the (partially) Deregulated Natural Gas Industry by : Joseph P. Kalt
Download or read book Market Structure, Vertical Integration, and Long Term Contracts in the (partially) Deregulated Natural Gas Industry written by Joseph P. Kalt and published by . This book was released on 1985 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Natural Gas Industry Restructuring for Value Optimisation by : Shafic Suleman
Download or read book Natural Gas Industry Restructuring for Value Optimisation written by Shafic Suleman and published by . This book was released on 2020 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global natural gas industry in emerging oil and gas producing countries faces the challenge of restructuring and regulations, making industry conduct revaluation inevitable. The main concern in restructuring the natural gas industry in these economies is how to break previously vertically integrated companies into separate business entities under an appropriate market structure along the gas value chain. There are two schools of thoughts on how to restructure the natural gas industry. The traditional school of thought favours a vertically integrated structure and the liberal school of thought advocates for competitive-based structures encompassing different regulatory reforms including ownership unbundling. The natural gas industry in Ghana, though nascent, is growing due mainly to rising demand for electricity, at about 5.8% annually. Currently GNPC owns the upstream gas, midstream infrastructures and champions final gas delivery to downstream consumers. Gas price harmonization, easing contractual agreements, maintaining the survival of GNGC, and energy security reasons are among the policy factors that seem to favour a state-owned vertically integrated structure. The aim of this paper is to examine and determine the industry structure that is optimal to sustain Ghana energy supply mix. The paper offers two natural gas industry structure models to describe the effect of unbundling infrastructure ownership of natural gas along its value chain on energy supply mix in Ghana. The paper suggests maintaining the aggregating role of GNPC is appropriate. However, the paper recommends unbundling infrastructure ownership from upstream natural gas owners. Thus, the Gas Processing Plants and Ghana National Gas Company (GNGC) transmission pipelines need an independent entity to operate the GNGC transmission pipeline as the National Gas Transmission Utility (NGTU) with open access allow IPPs equal access to natural gas at the market hubs.
Book Synopsis Vertical Natural Gas Transportation Capacity, Upstream Commodity Contracts, and EU Competition Law by : Kim Talus
Download or read book Vertical Natural Gas Transportation Capacity, Upstream Commodity Contracts, and EU Competition Law written by Kim Talus and published by Kluwer Law International B.V.. This book was released on 2011-01-01 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Because the EU depends on a very small number of external suppliers for its natural gas, energy security issues inevitably arise. In theory, competition law should regulate and adjudicate such issues. Yet, because contracts between EU companies and producers are highly sensitive and politically charged, the application of EU competition law to natural gas contracts is far from clear. This important book, drawing on ECJ case law, Commission administrative cases and inquiries, and the full range of relevant legal and economic theory, provides an extremely valuable and detailed study of how EU competition law can be applied to long-term natural gas capacity reservation and commodity contracts. Issues and topics such as the following arise in the course of the analysis: Third Gas Market Directive provisions; Article 102 TFEU cases on strategic under-investment; pre-liberation or "legacy" gas contracts (e.g., with Algeria and Russia); "right of first refusal"; take-or-pay requirement; third-party access; ownership unbundling; effect of elimination of priority access regimes; short-term trading; spot markets; and law and economics of vertical restraints. Focusing on the foreclosing effect of long-term upstream commodity contracts, the author recommends restrictions on the use of capacity reservation contracts, and analyses the efficacy of security of supply as a competition law defence in cases relating to such contracts.
Book Synopsis The Effects of Vertical Integration on Oil Company Performance by : Fernando Barrera-Rey
Download or read book The Effects of Vertical Integration on Oil Company Performance written by Fernando Barrera-Rey and published by . This book was released on 1995 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Natural Gas Processing from Midstream to Downstream by : Nimir O. Elbashir
Download or read book Natural Gas Processing from Midstream to Downstream written by Nimir O. Elbashir and published by John Wiley & Sons. This book was released on 2019-02-04 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive review of the current status and challenges for natural gas and shale gas production, treatment and monetization technologies Natural Gas Processing from Midstream to Downstream presents an international perspective on the production and monetization of shale gas and natural gas. The authors review techno-economic assessments of the midstream and downstream natural gas processing technologies. Comprehensive in scope, the text offers insight into the current status and the challenges facing the advancement of the midstream natural gas treatments. Treatments covered include gas sweeting processes, sulfur recovery units, gas dehydration and natural gas pipeline transportation. The authors highlight the downstream processes including physical treatment and chemical conversion of both direct and indirect conversion. The book also contains an important overview of natural gas monetization processes and the potential for shale gas to play a role in the future of the energy market, specifically for the production of ultra-clean fuels and value-added chemicals. This vital resource: Provides fundamental chemical engineering aspects of natural gas technologies Covers topics related to upstream, midstream and downstream natural gas treatment and processing Contains well-integrated coverage of several technologies and processes for treatment and production of natural gas Highlights the economic factors and risks facing the monetization technologies Discusses supply chain, environmental and safety issues associated with the emerging shale gas industry Identifies future trends in educational and research opportunities, directions and emerging opportunities in natural gas monetization Includes contributions from leading researchers in academia and industry Written for Industrial scientists, academic researchers and government agencies working on developing and sustaining state-of-the-art technologies in gas and fuels production and processing, Natural Gas Processing from Midstream to Downstream provides a broad overview of the current status and challenges for natural gas production, treatment and monetization technologies.
Book Synopsis Natural Gas: A Commercial Perspective by : Andrej Pustišek
Download or read book Natural Gas: A Commercial Perspective written by Andrej Pustišek and published by Springer. This book was released on 2017-03-21 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses and explains the economics of each stage of the natural gas value chain, including the economic impact of restrictions, rules and decisions that are ostensibly technical in nature, as well as commercially relevant contractual stipulations. Each chapter features several real-world examples illustrating the essential points. Natural gas is broadly considered the (leading) conventional source of primary energy. Complementing renewable energies’ utilization and offering a highly flexible yet relatively clean fuel, the worldwide natural gas markets are expected to grow. Despite the fact that Europe – where a degree of stagnation in natural gas consumption is being observed and is expected to continue – is not following this trend, international natural gas markets are becoming increasingly interdependent. Therefore, any analysis and discussion of natural gas markets at each level has to have an international rather than national focus.
Book Synopsis A Tea Reader by : Katrina Avila Munichiello
Download or read book A Tea Reader written by Katrina Avila Munichiello and published by Tuttle Publishing. This book was released on 2017-03-21 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Tea Reader contains a selection of stories that cover the spectrum of life. This anthology shares the ways that tea has changed lives through personal, intimate stories. Read of deep family moments, conquered heartbreak, and peace found in the face of loss. A Tea Reader includes stories from all types of tea people: people brought up in the tea tradition, those newly discovering it, classic writings from long-ago tea lovers and those making tea a career. Together these tales create a new image of a tea drinker. They show that tea is not simply something you drink, but it also provides quiet moments for making important decisions, a catalyst for conversation, and the energy we sometimes need to operate in our lives. The stories found in A Tea Reader cover the spectrum of life, such as the development of new friendships, beginning new careers, taking dream journeys, and essentially sharing the deep moments of life with friends and families. Whether you are a tea lover or not, here you will discover stories that speak to you and inspire you. Sit down, grab a cup, and read on.
Book Synopsis Vertical Integration and the Importance of Comprehensive Pipeline Construction Policies in Japan's Natural Gas Industry by : Satoru Hashimoto
Download or read book Vertical Integration and the Importance of Comprehensive Pipeline Construction Policies in Japan's Natural Gas Industry written by Satoru Hashimoto and published by . This book was released on 2017 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Japan's natural gas industry is reliant on imported liquefied natural gas (LNG) that normally requires regasification prior to consumption. Unbundling of the industry has not been enforced and while some local distribution utilities purchase gas via pipelines that is regasified by the seller, others choose LNG from tanker trucks with subsequent regasification occurring in-house (vertical integration). Estimating the determinants of vertical integration with an empirical transaction cost economics analysis, I deduce the importance of pipeline network plans.
Book Synopsis Economics of Energy Security by : Honorata Nyga-Łukaszewska
Download or read book Economics of Energy Security written by Honorata Nyga-Łukaszewska and published by Taylor & Francis. This book was released on 2024-02-02 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been a burgeoning interest in energy security in recent years due to the transformation of the energy landscape through deepening market deregulation, rising environmental challenges, growing energy hunger, and significant political changes. Depicting energy security as an evolving concept that absorbs economic and political conditions, this book adopts an economic approach to energy security in the international gas market. Uniquely, the book explores the theoretical assumptions and practical consequences attached to both demand and supply-side security in global energy markets. It investigates why energy exporters are so protective of independence in energy exports. The book also looks at the critically important issue of environmental aspects of energy security, particularly around climate change. It also analyses the potential for a cartel in the international gas market, similarly to the oil industry. This book will be of much interest to readers in energy economics, energy security, energy policy, IR/security studies, and relevant policy-makers.
Book Synopsis The Essence of International Management by : Andrey Medvedev
Download or read book The Essence of International Management written by Andrey Medvedev and published by Walnut Publication. This book was released on 2021-09-01 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why, when, where and how to internationalise are core questions for leaders, managers and their organisations today. This book provides a unique overview of the true essence of international management. As opposed to a conventional product-related country-oriented approach to the international business area, this book intends to follow modern trends in international management with a greater focus on internationalisation of firm’s earnings and costs. The total economic result of international business transactions in the firm takes account of all cross-border inflow and outflow of cash. Modern firms participate in industrial value chains that tend to cross national borders intensively. The firm’s value chain activity exercised in a certain country serves as an appropriate unit of analysis in multinational firms' decision-making. The combination of such analytical units as firm, industry with its value chain, country and modes of foreign and cross-border operations is at the heart of the book's structure. Based on decades of delivering award-winning executive education seminars and projects in numerous countries, the authors address key questions in order to perpetuate an organisation’s as well as an individual’s success in international activities. Numerous case studies from a variety of firms, industries and countries help illustrate options and choices.
Book Synopsis Handbook on Climate Change and Technology by : Frauke Urban
Download or read book Handbook on Climate Change and Technology written by Frauke Urban and published by Edward Elgar Publishing. This book was released on 2023-12-11 with total page 563 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely Handbook presents the latest knowledge on technological innovation for climate change mitigation and adaptation. Looking beyond technical fixes, it further draws on economics, politics and sociology to explore how modern technology can contribute to effective and socially just sustainability transitions.
