AN EXAMINATION OF MULTIPLE OPTIMIZATION APPROACHES TO THE SCHEDULING OF MULTI-PERIOD MIXED-BTU NATURAL GAS PRODUCTS
Michael A. Bond · SHAREOK (University of Oklahoma; Oklahoma State University; Central Oklahoma University) · 2013
As worldwide production and consumption of natural gas increase, so does the importance of maximizing profit when trading this commodity in a highly competitive market. Decisions regarding the buying, storing and selling of natural gas are difficult in the face of high volatility of prices and uncertain demand. With the introduction of alternative sources of fuels with lower levels of methane, the primary component of natural gas, these decisions become more complicated. This is an issue faced by investors as well as operational planners of industrial and commercial consumers of natural gas where incorrect planning decisions can be costly.