Working Paper 2: Security of Supply for Natural Gas Markets - What is it and what is it not?
Article from: OGEL 3 (2004), in Geopolitics of Energy
Abstract
The issue of security of gas supplies is frequently discussed on the basis of intuitive and non-systematic arguments. Greater import dependence is normally equated with greater insecurity, and strategic stocks are the risk management tool most commonly considered. This paper strives to offer a systematic framework of analysis and shows that import dependence does not necessarily entail greater insecurity - actually, the opposite may well be the case. It also discusses several alternatives to strategic stocks for risk management, which are more interesting and ...