THE INTEGRA TION OF THE EUROPEAN NA TURAL GAS MARKET

摘要

This paper investigates the European process of creating an internal and sustainable market for natural gas. The analysis focuses on the most crucial factors that impact upon market integration (the EU gas directives, supply and demand of gas, market's competition, diversification of natural gas sources, wholesale markets, the existing regulatory framework, gas infrastructure, cross-border transmission and recent trends of the European natural gas sector). The behaviour of gas prices is considered as the focal determinant of connectivity among the member states and thus is closely examined both theoretically and empirically between economically different countries. By studying the antitrust and economic sides of the market, further liberalisation actions are being recommended in order to obtain a fully sustainable and efficient gas market. The complex analysis carried out in this paper concludes with further suggestions for fostering the overall market integration.