| Summary: | This thesis investigates the economic dynamics of natural gas markets in Asia Pacific, Europe, and North America, analysing their price interactions and the influence of crude oil prices. Employing robust econometric methods, it explores market integration through convergence and cointegration testing, shock propagation, and the responses to economic changes. The results show that natural gas price convergence in major trading hubs halted post-2009, diverging into distinct clusters influenced by regional dynamics and less by oil prices, challenging effective global price arbitrage.
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