Natural gas industry transformation, competitive institutions and the role of regulation. A. De Vany and W.D. Walls. Energy Policy, September 1994, 22(9), 755--763.

Lessons from open access in US natural gas markets are discussed. Consideration is given to the role that transport rights has played in the transformation of the industry. Details are examined of the convergence, since adoption of open access, of gas field prices, pooling area prices and city gate prices. Transport trading having created an interconnected grid of pipelines in place of the closed and disconnected grid that preceded open access---thus providing the means for price arbitrage. 32 refs.

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