This book discusses and explains the economics of each stage of the natural gas value chain, including the economic impact of restrictions, rules and decisions that are ostensibly technical in nature, as well as commercially relevant contractual stipulations. Each chapter features several real-world examples illustrating the essential points. Natural gas is broadly considered the (leading) conventional source of primary energy. Complementing renewable energies' utilization and offering a highly flexible yet relatively clean fuel, the worldwide natural gas markets are expected to grow. Despite the fact that Europe - where a degree of stagnation in natural gas consumption is being observed and is expected to continue - is not following this trend, international natural gas markets are becoming increasingly interdependent. Therefore, any analysis and discussion of natural gas markets at each level has to have an international rather than national focus.