EUROPEAN GAS MARKET STRUCTURE
MILAN HUDAK
Abstract:
Focusing on the evolving roles of stakeholders and price-setting mechanisms, this paper sheds light on how the European Union gas market has shifted from dominant oil-linked contracts to a more diversified, market-driven system. Producers, TSOs, DSOs, shippers, traders, and consumers all contribute to a complex network in which efficient balancing is crucial to maintaining continuous gas flows. The maturing of gas hubs, particularly TTF and THE, has fostered spot and short-term trading, thereby offering enhanced liquidity and flexibility and introducing new forms of price volatility. EU-level policies, including unbundling requirements and harmonised network codes, have underpinned these developments, shaping transparent risk management strategies, derivatives trading, and storage usage. Although increased competition has yielded benefits in pricing and reliability, persistent regional discrepancies, such as varying infrastructure investment levels and differences in balancing practices, continue to influence
Keywords:
EU Gas Market; Market Liberalization; Gas Infrastructure; Energy Policy & Regulation; TTF; Gas Markets
DOI: 10.52950/SS.2025.14.1.001
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APA citation:
MILAN HUDAK (2025). European Gas Market Structure. International Journal of Social Sciences, Vol. XIV.(1), pp. 1-22. , DOI: 10.52950/SS.2025.14.1.001
Data:
Received: 2 Oct 2024
Revised: 6 Jan 2025
Accepted: 6 Jan 2025
Published: 20 Jan 2025
Copyright © 2025, Milan Hudak et al, hudm04@vse.cz