Abstract

OSORIO RUIZ, SEBASTIÁN  and  OLAYA MORALES, YRIS. ANALYSIS OF NATURAL GAS TRADE BETWEEN COLOMBIA AND VENEZUELA. Dyna rev.fac.nac.minas [online]. 2011, vol.78, n.167, pp.27-35. ISSN 0012-7353.

A spatial equilibrium model is proposed and built to analyze the possible gas trades between Colombia and other regional markets. The model includes domestic demand, supply and transportation network constraints, as well as imports and exports. The model captures the oligopolistic strcuture of gas supply in Colombia and balances demand and supply using a spatial oligopoly model based on a Cournot game. Modeled flows indicate that initial impacts of exports from Colombia to Venezuela are low and that future imports from Venezuela increase Colombia’s gas supply security as well as competition among gas producers.

Keywords : natural gas market; Colombia; gas trade; spatial market equilibrium; oligopoly.

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