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Trends in the Development of the European Natural Gas Market: Specifics, Participants, Prospects

Author:

Vladimir K. Pershin and Evgeny V. Kislitsyn

Abstract:

The article looks at the main trends in the European natural gas market allowing for the fact that the energy industry and natural gas industry as a part of it nowadays play a crucial role in the eco‑ nomic progress of particular countries and even macro-regions. The authors conduct a qualitative analysis of the European natural gas market, specify its key participants and detail their role. The primary focus of the article is on the place Russia occupies in the European energy market. In ad‑ dition, the article provides a forecast on the volume of export of the natural gas to the EU countries, lists main directions for diversifying gas suppliers, and outlines economic prospects for the LNG market.

Keywords: natural gas; gas market; gas pipeline; supplier; forecasting; ARIMA model.

For citation:

Pershin V. K., Kislitsyn Ye. V. Tendentsii razvitiya rynka prirodnogo gaza Evropy: osobennosti, uchastniki, perspektivy [Trends in the Development of the European Natural Gas Market: Specifics, Participants, Prospects]. Izvestiya Uralskogo gosudarstvennogo ekonomicheskogo universiteta – Journal of the Ural State University of Economics, 2016, no. 5 (67), pp. 74–87.