Andrej Pustišek teaches energy economics at the University of Applied Science, Stuttgart, Germany and at the University of Karlsruhe (KIT), Germany, owns a consulting companys providing services to international natural gas and energy companies, inter alia, in arbitration proceedings, and lectures international courses on natural gas. He studied Geophysics and Economy in Vienna, Cologne and Münster. He holds a Ph.D. in Geophysics and a Ph.D. in Economy. In 1990, he started in international natural gas purchasing of Wintershall, Kassel, Germany. As of 1993 he headed different departments of WINGAS, Kassel, Germany (a Gazprom and BASF joint venture). From 2002 to 2012, he worked for [...] Ruhrgas, Essen, Germany; ¿rst as Senior Vice President International Natural Gas Sales and from 2008 as Senior Vice President Portfolio Management.

Michael Karasz is managing director of THE ENERGY HOUSE GmbH a company he founded in 2011. He holds master degrees in Geology and Business Administration from the University of Cologne, Germany. His long-lasting involvement in the natural gas business started in the early 90's at WINGAS, Kassel, Germany (a Gazprom and BASF joint venture). As of 1998 he held different senior management positions (inter alia, natural gas purchasing and portfolio management) both, in Germany and Central & Eastern Europe with [...], EEX, RWE, and Bayerngas. In these positions he successfully negotiated and concluded complex long-term purchase, transportation, storage, and sales agreements. He has extensive expertise in preparing and successfully executing international arbitration proceedings.

Examines the natural gas business throughout the entire value chain, focusing on economically relevant principles and market drivers

Provides hands-on commercial expertise on natural gas commodity, transportation capacity and storage capacity agreements, including a comprehensive description of flexibility

Presents general principles as well as the latest regulatory and market developments

Discusses trading principles and products, unbundling, fundamental changes in price structures, the basics and impact of LNG transportation and trading, and the internationalization of the natural gas market

Includes a wealth of real-world examples and case studies

Includes supplementary material: [...]

1. Prologue.- 2. Introduction.- 3. Market data.- 4. Non-Economic and Non-Commercial Fundamentals.- 5. Economic and Commercial Fundamentals.- 6. Sales along the Value Chain.- 7. Transportation.- 8. Storage.- 9. Portfolio Management.- 10. Epilogue.