IDEAS home Printed from https://ideas.repec.org/a/eee/juipol/v64y2020ics0957178720300357.html
   My bibliography  Save this article

Global energy market dynamics and natural gas development in the Eastern Mediterranean region

Author

Listed:
  • Pulhan, Afet
  • Yorucu, Vedat
  • Sinan Evcan, Nusret

Abstract

This article discusses the development of Eastern Mediterranean natural gas resources in the context of global energy market dynamics. The focal point of this research is to apply Localization Theory through systematic attention on the mutual interaction between geographical proximity, regional relations, energy geopolitics, and economics to investigate the trade of natural gas. Eastern Mediterranean is a geopolitically important region endowed with natural gas resources. The realization of potential development options and achievements of desired results have been stranded by changing regional and global energy market and geopolitical dynamics, different policy approaches, and existing conflicts. In the current energy context, the global energy market structure is altering with the development of unconventional resources, falling demand, abundance in supply, changing pricing structure, and declining global energy infrastructure investments. The study revealed that decisions about the development of natural resources and export infrastructure are dependent on global energy market dynamics in conjunction with regional geopolitics. Regional cooperation and development of energy policies in line with the careful consideration of global energy market dynamics and energy geopolitics are suggested as the main path to shape the future of these processes. The study also revealed that development and monetization of the Eastern Mediterranean natural gas resources necessitate a pragmatic approach based on realistic expectations and the development of all-inclusive cooperative schemes. Joint development of regional natural gas resources under these cooperative schemes is likely to produce desired solutions for the energy development and monetization process and create economies of scale by keeping costs low.

Suggested Citation

  • Pulhan, Afet & Yorucu, Vedat & Sinan Evcan, Nusret, 2020. "Global energy market dynamics and natural gas development in the Eastern Mediterranean region," Utilities Policy, Elsevier, vol. 64(C).
  • Handle: RePEc:eee:juipol:v:64:y:2020:i:c:s0957178720300357
    DOI: 10.1016/j.jup.2020.101040
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0957178720300357
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.jup.2020.101040?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Gailing, Ludger & Röhring, Andreas, 2016. "Is it all about collaborative governance? Alternative ways of understanding the success of energy regions," Utilities Policy, Elsevier, vol. 41(C), pages 237-245.
    2. Krugman, Paul, 1991. "Increasing Returns and Economic Geography," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 483-499, June.
    3. Özdemir, Volkan & Yavuz, H. Buğra & Tokgöz, Emine, 2015. "The Trans-Anatolian Pipeline (TANAP) as a unique project in the Eurasian gas network: A comparative analysis," Utilities Policy, Elsevier, vol. 37(C), pages 97-103.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ozarisoy, B. & Altan, H., 2022. "Significance of occupancy patterns and habitual household adaptive behaviour on home-energy performance of post-war social-housing estate in the South-eastern Mediterranean climate: Energy policy desi," Energy, Elsevier, vol. 244(PB).
    2. Hasim Altan & Bertug Ozarisoy, 2022. "An Analysis of the Development of Modular Building Design Elements to Improve Thermal Performance of a Representative High Rise Residential Estate in the Coastline City of Famagusta, Cyprus," Sustainability, MDPI, vol. 14(7), pages 1-50, March.
    3. Filip Božić & Daria Karasalihović Sedlar & Ivan Smajla & Ivana Ivančić, 2021. "Analysis of Changes in Natural Gas Physical Flows for Europe via Ukraine in 2020," Energies, MDPI, vol. 14(16), pages 1-22, August.
    4. Shimomura, Mizue & Keeley, Alexander Ryota & Matsumoto, Ken'ichi & Tanaka, Kenta & Managi, Shunsuke, 2024. "Beyond the merit order effect: Impact of the rapid expansion of renewable energy on electricity market price," Renewable and Sustainable Energy Reviews, Elsevier, vol. 189(PB).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Davenport, Sally, 2005. "Exploring the role of proximity in SME knowledge-acquisition," Research Policy, Elsevier, vol. 34(5), pages 683-701, June.
    2. Mark Partridge & M. Rose Olfert & Alessandro Alasia, 2007. "Canadian cities as regional engines of growth: agglomeration and amenities," Canadian Journal of Economics, Canadian Economics Association, vol. 40(1), pages 39-68, February.
    3. João Juchem Neto & Julio Claeyssen, 2015. "Capital-induced labor migration in a spatial Solow model," Journal of Economics, Springer, vol. 115(1), pages 25-47, May.
    4. Arcalean, Calin & Glomm, Gerhard & Schiopu, Ioana, 2012. "Growth effects of spatial redistribution policies," Journal of Economic Dynamics and Control, Elsevier, vol. 36(7), pages 988-1008.
    5. Marcel Bednarz & Tom Broekel, 2020. "Pulled or pushed? The spatial diffusion of wind energy between local demand and supply," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 29(4), pages 893-916.
    6. Joan R Rosés & Nikolaus Wolf, 2021. "Regional growth and inequality in the long-run: Europe, 1900–2015," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 37(1), pages 17-48.
    7. Emma Howard, 2017. "Social networks, geographic proximity, and firm performance in Vietnam," WIDER Working Paper Series wp-2017-69, World Institute for Development Economic Research (UNU-WIDER).
    8. Ingrid Ott & Susanne Soretz, 2006. "Governmental activity, integration, and agglomeration," Working Paper Series in Economics 57, University of Lüneburg, Institute of Economics.
    9. Gao, Ting, 2004. "Regional industrial growth: evidence from Chinese industries," Regional Science and Urban Economics, Elsevier, vol. 34(1), pages 101-124, January.
    10. María Ayuda & Fernando Collantes & Vicente Pinilla, 2010. "From locational fundamentals to increasing returns: the spatial concentration of population in Spain, 1787–2000," Journal of Geographical Systems, Springer, vol. 12(1), pages 25-50, March.
    11. Vasco Leite & Sofia Castro & João Correia-da-Silva, 2009. "The core periphery model with asymmetric inter-regional and intra-regional trade costs," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 8(1), pages 37-44, April.
    12. Sidney Turner & Richard Turner, 2011. "Capital cities: a special case in urban development," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 46(1), pages 19-35, February.
    13. Agarwalla, Astha, 2011. "Agglomeration Economies and Productivity Growth in India," IIMA Working Papers WP2011-01-08, Indian Institute of Management Ahmedabad, Research and Publication Department.
    14. Masashige Hamano & Pierre M. Picard, 2017. "Extensive and intensive margins and exchange rate regimes," Canadian Journal of Economics, Canadian Economics Association, vol. 50(3), pages 804-837, August.
    15. Michael Beenstock & Daniel Felsenstein, 2003. "Decomposing the Dynamics of Regional Earnings Disparities in Israel," ERSA conference papers ersa03p90, European Regional Science Association.
    16. Michele Fratianni & Francesco Marchionne, 2011. "The Limits to Integration," Chapters, in: Miroslav N. Jovanović (ed.), International Handbook on the Economics of Integration, Volume I, chapter 9, Edward Elgar Publishing.
    17. Catherine Baumont, 1995. "Urban economics and endogenous dynamics in regional growth [Economies d'agglomération et dynamique endogène de croissance des régions]," Working Papers hal-01527237, HAL.
    18. Rodríguez-Pose, Andrés & Tselios, Vassilis & Winkler, Deborah & Farole, Thomas, 2013. "Geography and the Determinants of Firm Exports in Indonesia," World Development, Elsevier, vol. 44(C), pages 225-240.
    19. Arun Natarajan Hariharan & Arindam Biswas, 2020. "A Critical review of the Indian knowledge‐based industry location policy against its theoretical arguments," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(3), pages 431-454, June.
    20. Mohamed Amara & Khaled Thabet, 2019. "Firm and regional factors of productivity: a multilevel analysis of Tunisian manufacturing," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 63(1), pages 25-51, August.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:juipol:v:64:y:2020:i:c:s0957178720300357. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.sciencedirect.com/journal/utilities-policy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.