Liquefied natural gas (LNG) use as a fuel in road and maritime traffic has increased rapidly, and it is slowly entering railroad traffic as well. The trend was pushed by the state administrations of mainly EU countries and international organizations seeing LNG as a cost-effective and environmentally friendly alternative to diesel. Different infrastructural projects for the widespread use of LNG in transport have been launched around the world. The main goal of this paper was to analyze use of LNG as a fuel for heavy trucks. Different aspects of LNG chain were analyzed along with economical and ecological benefits of LNG application. Filling stations network for LNG were described for the purpose of comparative analysis of diesel and LNG heavy trucks. Conclusion has shown that using LNG as propellant fuel has numerous advantages over the use of conventional fuels. The higher initial investment of the LNG road vehicles could be amortized in their lifetime use, and in the long-term they are more affordable than the classic diesel vehicles. In addition to cost-effectiveness, LNG road vehicles reduce CO2 emissions. Therefore, the environmental goals in transport, not only of the member states but worldwide, could not be met without LNG in heavy truck traffic.

No abstract

Energy mineral resource markets are represented by complex supply and demand ratios which are depending on diff erent factors such as technical (transport) and geopolitical. The main characteristicof energy markets is represented by an uneven geographic distribution of hydrocarbon reserves and production on one hand, and energy consumption on the other. World oil markets, although geographically localized, because of specifi c market trade, represent a unique global market with a decreasing price diff erence. Price diff erences are the result of the development of transport possibilities of oil supply. The development of transport routes of natural gas and an increasing number of liquefi ed natural gas terminals in the world give pressure to the natural gas market and its integration into the global gas market. The integration of regional gas markets into a common European gas market is the main energy policy of EU concerning natural gas. On the other hand, there are still signifi cant price diff erences on some markets (e.g. United States of America -South East Asia). The development of global energy markets is enabled by the development of futures and options contracts of an energy trade which have replaced bilateral contract deals between producers and consumers. Futures contracts are standardized contracts traded on exchanges. A buyer agrees to buy a certain quantity of stock for an agreed upon price and with some future delivery date. An option is a contract which gives a buyer the option of the right to buy (or sell, depending on the option) an asset at a predetermined price and at a later date. A stock's price risk can be managed with the purchase and selling futures and options contracts. This paper deals with futures and options energy markets and their market strategies.

No abstract

The choice of the right fi scal regime represents the main object of the energy policy concerning hydrocarbon exploration and production for the state government. For the operator and service companies it represents the terms and conditions for practical conducting of the process in whole. This paper analyse aspects of agreements used in the petroleum industry. Elements of agreement, regardless of regime, have been described together with their advantages and disadvantages. Due to the fact that the fi scal regime has to be chosen to attract companies willing to invest in exploration and production, it represents a relevant part of the business strategy and also a base for the decision making process during start up. It has to minimize the risk for the both parties involved and maximize the state's share during the exploitation phase. For the companies, it has to be attractive enough to balance risks during the exploration phase with profi ts gained during the exploitation phase. The aim of this paper is to show the existing fi scal systems in the petroleum industry and to analyze the process for concluding a contract regarding the exploration and production of hydrocarbons. An overview of diff erent business practices in the oil and gas industry with a detailed breakdown of the contract terms between the parties involved have been described in the paper. The aim of this paper is to show the diff erent possibilities of fi nancial regimes which could help during the negotiation process for conducting hydrocarbon exploration and production for everyone involved.

According to analysed oil reserves and oil production worldwide during 1995, 2005 and 2015, a global increase in oil reserves is observed. In 1995, there were 179.1 × 10 9 m 3 , in 2005 there were 218.5 × 10 9 m 3 and in 2015 there were 269.9 × 10 9 m 3 oil reserves. According to British Petroleum data, oil production is also increasing, but by a smaller ratio. Oil production in the world in 1995 was 10.8 × 10 9 m 3 , in 2005 it was 13.0 × 10 9 m 3 , and in 2015 14.6 × 10 9 m 3 . Oil price trends between 1980 and 2015 were analysed. Many di erent causes a ect the constant oil price uctuations, but the most in uential are the geopolitical crises of the Middle Eastern countries, as well as a great increase in demand for oil and the expansion of the consumption of wealthy countries such as China, India and Brazil, which was not accompanied by a corresponding increase in supply. Modern political relations are full of con icts, which greatly a ect oil prices, and the best example is the short-term rise in oil prices in 2011, when armed con icts started in Libya, or disablement of production in countries such as Syria and Yemen, which in 2015 can barely capture any production. By comparing reserves, earnings and oil price uctuations, it is apparent that almost every increase in oil production, after the discovery of oil deposits, was later accompanied by a fall in prices.

No abstract

No abstract