The natural gas market seems to be at a crossroad. The emergence of new supply sources, the comeback of coal and the deployment of intermittent power generation, the decline of domestic production in the EU and the severe fall in oil and gas prices are the new drivers of the economics of gas. Despite these changes, gas is and will remain a central pillar of the world energy mix. The second edition of this international conference, organized by the Chair on the Economics of Natural Gas, will shed lights on these new issues, by bringing together researchers in economics, finance and econometrics.

Programme

9:00-9:05 Welcoming address by François Lévêque

9:05-9:50 Keynote Lecture

C. von Hirschhausen (DIW and TU Berlin) “Gotta get used to not living next door to natural gas”

9:50-10:40 Session 1: The Role of Natural Gas in the Energy Transition

Chair: A. Creti (U. Paris-Dauphine)

B. Takácsné Tóth (REKK), A. Selei (REKK) and P. Kotek (REKK) “Effects of Deep Decarbonisation on the Natural Gas Sector of the EU-28”

M. Roach (Vlerick Business School) and L. Meeus (Vlerick Busines School & Florence School of Regulation) “The Welfare and Price Effects of Sector Coupling with Power-To-Gas”

10:40-11:00 Coffee Break

11:00-12:15 Session 2: The Econometrics of Natural Gas Markets

Chair: C. Haritchabalet (Toulouse School of Economics & U. de Pau)

A. Baba (U. Paris-Dauphine), A. Creti (U. Paris-Dauphine) and S. Benkbaier (U. Paris-Dauphine) How efficient are natural gas markets in practice? A multi-resolution approach”

A. Thomas (IFP Energies Nouvelles & U. of Nantes), Z. Moussa (U. of Nantes) and B. Sévi (U. of Nantes) “Real-Time Forecasts of Henry Hub Natural Gas Prices”

A. Thomas (IFP Energies Nouvelles & U. of Nantes), O. Massol (IFP School and City, U. of London) and B. Sévi (U. of Nantes) “How are day-ahead prices informative for predicting the next day’s consumption of natural gas? Evidence from France”

12:15-13:45 Lunch

R. Egging (NTNU) “Challenges and Opportunities for Natural Gas in the Energy Transition”

Chair : O. Massol (IFP School and City University of London)

E. Cam (U. of Cologne), D. Lencz (U. of Cologne) and S. Schulte (U. of Cologne) “Implementing new capacity booking regimes for natural gas transmission networks – How will gas storages be affected?”

E. Dukhanina (Mines ParisTech), François Lévêque (Mines ParisTech), Olivier Massol (IFP School and City University of London) “LNG trade and spatial arbitrage: are we facing a globally integrated market?”

15:20-15:40 Coffee Break

R. Ritz (Cambridge University) “Global gas markets, carbon pricing and the future of natural gas”

Moderator: A. Creti (Université Paris-Dauphine)

P. Noël (International Institute for Strategic Studies)

Ø. Noreng (BI Norwegian Business School)

Ph. Vedrenne (ENGIE, Director Gas Supply and Asset Management)

17:45-18.00 Concluding remarks by François Lévêque