Why LNG Can Be a First Step in East Asia’s Energy Transition to a Low Carbon Economy: Evaluation of Challenges Using Game Theory
As countries scramble for cleaner energy production and to meet carbon reduction targets, natural gas seems to become an increasingly attractive option with liquified natural gas (LNG) as a popular transportation choice. In this paper, we first conduct a literature review and discuss the various fac...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-09-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/15/17/6476 |
| _version_ | 1797495494727958528 |
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| author | Masih Mozakka Mohsen Salimi Morteza Hosseinpour Tohid N. Borhani |
| author_facet | Masih Mozakka Mohsen Salimi Morteza Hosseinpour Tohid N. Borhani |
| author_sort | Masih Mozakka |
| collection | DOAJ |
| description | As countries scramble for cleaner energy production and to meet carbon reduction targets, natural gas seems to become an increasingly attractive option with liquified natural gas (LNG) as a popular transportation choice. In this paper, we first conduct a literature review and discuss the various factors affecting the global natural gas market, its recent history, current state, and future. Then we look at the possibility of East Asia becoming an alternative market to Europe for Russian LNG. We also bring in the US both as a political force that employs economic sanctions and as a potential LNG supplier. As a case study, we define a 3-player game between Russia, The United States, and Japan which results in relative market stability. In the case of sanctions against Russia, we conclude that it will lose its foothold in the Japanese market in the long term. Finally, we discuss the potential of LNG trading as the first step for East Asia’s energy transition to a low-carbon economy. |
| first_indexed | 2024-03-10T01:50:25Z |
| format | Article |
| id | doaj.art-d0780403aea64efbaeee63baa17756b3 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-10T01:50:25Z |
| publishDate | 2022-09-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-d0780403aea64efbaeee63baa17756b32023-11-23T13:06:49ZengMDPI AGEnergies1996-10732022-09-011517647610.3390/en15176476Why LNG Can Be a First Step in East Asia’s Energy Transition to a Low Carbon Economy: Evaluation of Challenges Using Game TheoryMasih Mozakka0Mohsen Salimi1Morteza Hosseinpour2Tohid N. Borhani3Department of Energy Engineering and Physics, Amirkabir University of Technology (Tehran Polytechnic), 424 Hafez Avenue, Tehran P.O. Box 15875-4413, IranRenewable Energy Research Department, Niroo Research Institute (NRI), Tehran P.O. Box 15875-4413, IranRenewable Energy Research Department, Niroo Research Institute (NRI), Tehran P.O. Box 15875-4413, IranCenter for Engineering Innovation and Research, School of Engineering, Computing and Mathematical Sciences, University of Wolverhampton, Wolverhampton WV1 1SG, UKAs countries scramble for cleaner energy production and to meet carbon reduction targets, natural gas seems to become an increasingly attractive option with liquified natural gas (LNG) as a popular transportation choice. In this paper, we first conduct a literature review and discuss the various factors affecting the global natural gas market, its recent history, current state, and future. Then we look at the possibility of East Asia becoming an alternative market to Europe for Russian LNG. We also bring in the US both as a political force that employs economic sanctions and as a potential LNG supplier. As a case study, we define a 3-player game between Russia, The United States, and Japan which results in relative market stability. In the case of sanctions against Russia, we conclude that it will lose its foothold in the Japanese market in the long term. Finally, we discuss the potential of LNG trading as the first step for East Asia’s energy transition to a low-carbon economy.https://www.mdpi.com/1996-1073/15/17/6476East AsiaLNGRussiaUnited Statesgame theoryenergy transition |
| spellingShingle | Masih Mozakka Mohsen Salimi Morteza Hosseinpour Tohid N. Borhani Why LNG Can Be a First Step in East Asia’s Energy Transition to a Low Carbon Economy: Evaluation of Challenges Using Game Theory Energies East Asia LNG Russia United States game theory energy transition |
| title | Why LNG Can Be a First Step in East Asia’s Energy Transition to a Low Carbon Economy: Evaluation of Challenges Using Game Theory |
| title_full | Why LNG Can Be a First Step in East Asia’s Energy Transition to a Low Carbon Economy: Evaluation of Challenges Using Game Theory |
| title_fullStr | Why LNG Can Be a First Step in East Asia’s Energy Transition to a Low Carbon Economy: Evaluation of Challenges Using Game Theory |
| title_full_unstemmed | Why LNG Can Be a First Step in East Asia’s Energy Transition to a Low Carbon Economy: Evaluation of Challenges Using Game Theory |
| title_short | Why LNG Can Be a First Step in East Asia’s Energy Transition to a Low Carbon Economy: Evaluation of Challenges Using Game Theory |
| title_sort | why lng can be a first step in east asia s energy transition to a low carbon economy evaluation of challenges using game theory |
| topic | East Asia LNG Russia United States game theory energy transition |
| url | https://www.mdpi.com/1996-1073/15/17/6476 |
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