INTERNATIONAL JOURNAL OF INNOVATION AND ECONOMIC DEVELOPMENT

This literature review examines the key factors that influence natural gas and liquefied natural gas (LNG) market prices in the context of the global energy economy. The study highlights the significance of the natural gas and LNG sectors, which are vast and dynamic, with major suppliers such as Russia, the United States, and Qatar, as well as major consumers from the US, China, and Europe. This review emphasises the importance of LNG in enabling global trade, decoupling production from consumption, and contributing to energy diversification and security.

INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE AND BUSINESS ADMINISTRATION

Our research, which is based on an extensive literature review, utilizes a heterogeneous panel data model to analyze the data of this study, which covers the period from 1970 to 2019, using real GDP (in million 2017 USD) according to chained PPP, capital stock (in million 2017 USD) according to current PPP, human capital index based on years of schooling and returns to education, and total renewable energy consumption in terawatt-hours (TWh) for each of the 22 European countries.

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