Less Long-Term Gas to Europe? A Quantitative Analysis of European Long-Term Gas Supply Contracts
Article from: OGEL 1 (2005), in National and International Issues in Natural Gas Development
Abstract
Several studies have analyzed the interdependence between liberalization of the gas industry in the US and the UK and long-term take-or-pay contracts between gas producers and large gas consumers, but none so far have examined continental Europe, where liberalization started in 1998 with the first EU Directive. This paper provides the first quantitative analysis of long-term European gas supply, based on a unique dataset of European importers' long-term contracts in the last two decades. We find that the contract length of take-or-pay gas supply contracts to Europe has ...