The Palgrave Handbook of International Energy Economics

Herausgegeben:Hafner, Manfred; Luciani, Giacomo

• Gebundenes Buch

Produktbeschreibung

This open access handbook is distinguished by its emphasis on international energy, rather than domestic energy policies or international geopolitic aspects. Addressing key topics such as energy production and distribution, renewables and corporate energy structures, alongside global energy trends, regional case studies and emerging areas such as the digitalization of energy and energy transition, this handbook provides a major new contribution to the field of international energy economics.
Written by academics, practitioners and policy-makers, this handbook is a valuable and timely addition to the literature on international energy economics.

This book was published open access with the support of Eni.

Produktdetails

• Verlag: Eni / Palgrave Macmillan / Springer International Publishing / Springer, Berlin
• Artikelnr. des Verlages: 978-3-030-86883-3
• 1st ed. 2022
• Seitenzahl: 836
• Erscheinungstermin: 28. Mai 2022
• Englisch
• Abmessung: 241mm x 160mm x 50mm
• Gewicht: 1412g
• ISBN-13: 9783030868833
• ISBN-10: 3030868834
• Artikelnr.: 62386155

Autorenporträt

Professor Manfred Hafner teaches economics and (geo)-politics of international energy at the SciencesPo Paris School of International Affairs (PSIA) and at The Johns Hopkins University School of Advanced International Studies (SAIS-Europe). Until recently he directed the ¿Geopolitics and Energy Transition¿ research program at the Fondazione Eni Enrico Mattei (FEEM). He also runs his own energy strategy consultancy with which he has over the last decades extensively advised governments, international organizations and the energy industry. Professor Giacomo Luciani leads the Master in International Energy at the Paris School of International Affairs, Sciences Po, which he established in 2011. He is also adjunct professor of interdisciplinary studies at the Graduate Institute of International and Development Studies in Geneva; and Visiting Professor in the Master in Commodity Trading of the Graduate School of Economics and Management of the University of Geneva.

Inhaltsangabe

Introduction

1. Part 1: Economics of energy production and distribution

1.1. Economics of oil and gas production - Nadine Bret-Rouzeaut (SciencesPo, France) - Relative cost of exploration and development under different conditions (onshore, offshore, unconventional). Evaluation of upstream projects. Sensitivity to price changes.

1.2. Economics of oil tanker transportation - TBC - Cyclicality of tanker business. Main determinants of tanker cost. Cost of transporting oil over long distances. Implications for arbitrage.

1.3. Economics of gas transportation by pipeline or LNG - Manfred Hafner (IFP School, Switzerland) - Cost determinants of long-distance pipelines. Implications for cost of transport of gas over long distance. Implications for gas supply contracts and price discovery. Determinants of cost of LNG plants and cost of transport by tanker.

1.4. Economics of oil refining - Jean-Pierre Favennec (IFP School, Switzerland) - Determinants of refinery cost and competitiveness. Complexity and oil quality. Implications of shifting patterns of products consumption and refinery localization.

1.5. Economics of biofuels - Adam Brown, International Energy Agency - Types of biofuels, respective cost structures, international trade in biomass/biofuels.

1.6. Economics of power generation - Arash Farnoush (IFP School, Switzerland) or Martin Everts (Head of Energy Economics at AxPo Holding AG, Switzerland) and/or Eicke Bluhme-Werri (AxPo Holding AG, Switzerland) - Alternative technologies for power generation and their respective key economic characteristics (CAPEX, OPEX, dispatchability, flexibility, location constraints, etc.)

1.6.1. Coal and oil-based generation

1.6.2. Gas-based generation (OCGT/CCGT)

1.6.3. Nuclear generation (including SMRs)

1.6.4. Hydropower (different forms)

1.6.5. Solar energy

1.6.6. Wind energy

1.6.7. Other renewables

1.7. Economics of energy networks - Andrea Bonzanni (SciencesPo, France) - Gas and electricity as network-based energy sources. Cost of network, natural monopoly, TPA, regulation, tarification, hubs.

1.8. Economics of energy storage - TBC - Which energies can be stored and to what extent. Cost and revenue opportunities of storage. Storage and security of supply

1.9. Financing of energy investment - TBC - Different financial models normally adopted to finance different energy investment projects: equity/debt ratios, project financing, risk, investors' profiles.

2. Part 2: Economics of energy trading and price discovery

2.1. International trade in energy in the context of globalization - Giacomo Luciani, (SciencesPo, France) - Importance of energy products in the context of global trade; potential evolution in light of energy transition and income growth at the global level

2.2. The trading and price discovery for crude oils - Giacomo Luciani or Bassam Fattouh (Oxford Institute for Energy Studies, UK) or Liz Bossley (CEO, Consilience Energy Advisory Group Ltd, UK) - The structure and functioning of the global oil market, physical and paper. Issues of financialization and volatility. Price makers and price takers.

2.3. The trading and price discovery for oil products - Liz Bossley (CEO, Consilience Energy Advisory Group Ltd, UK) - The structure and functioning of markets for petroleum products. Major contracts and derivatives, opportunities for hedging, influence of products on crude oil prices

2.4. The trading and price discovery for natural gas - Manfred Hafner (IFP School, Switzerland) - Alternative price discovery mechanisms, their respective rationale and evolving importance of each for pipeline gas and LNG

2.5. The trading and price discovery for coal - Sylvie Cornot-Gandolphe (Oxofrd Institute for Energy Studies) or Jan Beckaert - Different coal qualities and price discovery tools. Major contracts. Price makers.

2.6. The trading and price discovery for biofuels - major existing biofuels markets: ethanol and biodiesel. Major markets (Ethanol: US and Brazil; biodiesel: EU). Competition with food chain. Subsidies and their implications on trading. Arbitrage between different potential uses of biomass.

2.7. The trading of electricity - Eleanor Morrison (London Financial Studies) and/or Philippe Vassilopoulos (Cambridge University) - Structures of major liberalized power markets. Main traded contracts. Impact of variable renewables on market based on marginal cost. Capacity markets.

2.8. The trading of carbon - Alfred Evans (Climate Change Capital Ltd) or Eleanor Morrison (London Financial Studies) - The rationale for ETSs and the various implementations of the concept. The experience of the EU ETS and its ongoing evolution.

3. Part 3: Corporate energy structures

3.1. Determinants of vertical integration in energy - TBC - What is the rationale for vertical integration in the energy industry and does it stand to critical evaluation?

3.2. Unbundling, markets and regulation - Eleanor Morrison (London Financial Studies) - Breaking up vertically integrated incumbent monopolies and enforcing competition through regulation: alternative approaches

3.3. Energy companies: sensible conglomerates? - TBC - Does an energy conglomerate make more sense than conglomerates in general? Is there an advantage in simultaneously investing in several forms of energy?

3.4. Energy (power) decentralization and the future of networks - TBC - Decentralization of power generation may either mean an enhanced role for network or their erosion, possibly implosion. Cost/benefit of extended networks

3.5. Energy corporate governance - John Gault (former Chief Economist of the International Energy Development Corporation, US) - Dialectic of major stakeholders in shaping energy investment decisions. Corporate responsibility, transparency, corruption

3.6. The impact of digitalization - TBC - From the digital well to blockchain, and issues of cyber security: cost/benefit of digitalization

4. Part 4: Global energy trends

4.1. Energy scenarios: comparative analysis of black boxes - Manfred Hafner (IFP School, Switzerland) - Comparing the methodology, assumptions and results of major scenarios from industry, international organizations, individual governments and NGOs

4.2. Disruptive technologies - Fabio Genoese (Centre for European Policy Studies, Belgium) - Technologies having the potential of radically changing our understanding of energy futures

4.3. Drivers of energy demand - TBC - Opportunities for energy saving and economic obstacles to their realization

4.3.1. Energy demand for buildings

4.3.2. Energy demand for industry

4.3.3. Energy demand for transportation

5. Part 5: The trilemma and economics of tradeoffs

5.1. Internalizing externalities: market vs. regulatory approaches to decarbonisation - TBC - GHG emissions as market failure: can the cost be effectively internalized? Carbon tax vs. ETSs. Regulation undermines market approaches

5.2. Market solutions to security of supply - Giacomo Luciani (SciencesPo, France) - Security of supply has a cost and the final consumer should be able to decide how much security he wants. How can the cost of security be transferred to the final consumer?

5.3. Energy subsidies - TBC - Mapping widespread subsidization of energy products and the debate on their validity

5.4. Economics of access to energy - What economic obstacles prevent 1.2 billion people from having access to modern commercial energy? and policies/approaches to overcome the same

6. Part 6: Energy and the economy - Energy models differ very significantly across regions. This group of chapters will discuss the interplay of energy supply/demand and economic development with an emphasis on how issues of access and decarbonization opportunities affect each region.

6.1. Energy and the economy in China

6.2. Energy and the economy in India - Dagmar Graczyk (International Energy Agency)

6.3. Energy and the economy in Sub Saharan Africa - Philippe Copinschi (SciencesPo)

6.4. Energy and the economy in Latin America - TBC

6.5. Energy and the economy in the Middle East and North Africa - TBC

6.6. Energy and the economy in Russia - Tatiana Mitrova (Russian Academy of Sciences)

6.7. Energy and the economy in North America - TBC

6.8. Energy and the economy in Europe - TBC