The entire staff at RBAC, Inc. congratulates Chong Wang on starting his Ph.D. program in Economics. Chong along with fellow graduate students Birdy Chen and Jiaxin Yang have been participating in RBAC’s 2019 Summer Gas Modeling Internship Program in the Economics department at the University of Texas at Austin. They have been working with Dr. Robert Brooks and Dr. Ning Lin on developing their understanding of the gas market and how to model the converging global natural gas markets using RBAC’s G2M2® Global Gas Market Modeling System™. RBAC’s Founder, Dr. Robert Brooks, was very complimentary of the interns, stating “These students have done a great job in applying the theoretical economic concepts and methods they have learned at UT to help us model 21st century energy markets in a realistic way.”
Within three short months, the young team has progressed significantly in term of their knowledge of natural gas market while leveraging their economic modeling skills from the classroom. Birdy and Jiaxin have been working with a new version of country-level by sector demand builder for RBAC’s global gas platform. This new version of the demand builder has provided a more granular segmentation of demand, expanding from the original electric vs. non-electric segment to five segments (residential, commercial, industrial, electric, and transportation). This allows users to consider more robust assumptions regarding natural gas demand on a country level, especially in energy transition scenarios considering the various pathway of fossil fuel versus renewables.
Chong has been working closely on the development of our new infrastructure release, including LNG projects, pipelines, and storage facilities, covering the latest data sources and market intelligence. The new addition has already shown some meaningful insights about potential bottlenecks in infrastructure in emerging LNG buyers, like China. If left unsolved, those bottlenecks could have a material impact on LNG trade flows and regional prices.
Dr. Lin, who has been leading the internship program, commented that “RBAC aims to continue this collaboration with the University of Texas at Austin and looks forward to expanding the internship program to help create a new generation of gas market analysts that can providing solutions for using natural gas as a clean and safe way to fuel electric generation and provide reliable power to the billions of people who still live without electricity.”
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