Question

It has been said that "oil is like dating, but gas is like marriage," in reference...

It has been said that "oil is like dating, but gas is like marriage," in

reference to the dependence of gas trade on specific infrastructure and long term

commitments. Based on this, would you expect the global gas market to be as

integrated as the US market? Why or why not?

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Answer #1

The global gas market was spread across countries like US, Russia and Asia. All of these received the gas supplies from different places. The markets were earlier isolated from each other. But with time the need of integrating the gas market has increased. This is because the market is now spread far and wide and it has now become a globally traded commodity. There will be an increase in the demand for gas supply. The excess demand can be met only when the gas market is combined. The transfer of gas across pipelines has now become tough. So it has to be imported and exported. The import and export will finally lead to the integration of the gas market.

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