Treball final de Grau en Economia. Codi: EC1049. Curs academic 2015-2016In this paper, the determinants of demand for natural gas and for liquefied
natural gas (LNG) have been analysed using gravity equations. Two different equations
have been developed, one for the total natural gas market and another one for the
liquefied natural gas market. For each model, three contrasts have been applied in
order to obtain the best possible estimates and to compare between them. The results
show a great influence of distance over the trade of natural gas, in both the total and
the liquefied market, reducing the quantity traded as the distance is longer. Also, in the
LNG market, we can see that countries with a storage capacity over the median import
significantly more LNG than the others, showing the importance of those adapted
facilities. In addition, it could be said that Europe still depends on pipeline imports,
because its weight in world LNG market is low
