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    Are world natural gas markets moving toward integration? Evidence from the HH and NBP forward curves

    Geman, Hélyette and Liu, B. (2015) Are world natural gas markets moving toward integration? Evidence from the HH and NBP forward curves. Journal of Energy Markets 8 (2), pp. 47-65. ISSN 1756-3607.

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    Abstract

    We present the outlook of the world gas markets in 2014 and investigate whether the US and UK gas markets are moving toward integration. In order to do this, we classically study the cointegration of the Henry Hub and National Balancing Point indexes, but we also introduce the novel concept of distances between forward curves and propose three of them. From all these perspectives, and by analyzing a database covering the period January 2005 to April 2014, we conclude that no convergence has yet occurred between these two markets.

    Metadata

    Item Type: Article
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Research Centre: Commodities Finance Centre
    Depositing User: Helyette Geman
    Date Deposited: 26 May 2016 13:44
    Last Modified: 26 Jul 2019 21:09
    URI: http://eprints.bbk.ac.uk/id/eprint/15333

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