Forecasting of Natural Gas Supplied for EU in Gazprom with ARIMA and Machine Learning Methods

Year 2024, Volume: 7 Issue: 1, 39 - 47, 21.11.2024

Tuba Koc , Emre Dunder , Haydar Koç

Abstract

Natural gas, as an environmentally friendly energy source, is gaining importance with its capacity to respond to the increasing energy demand worldwide. Its wide range of uses and low carbon emissions place it at the heart of sustainable energy policies. This critical resource in the energy sector has a dynamic and complex structure under the influence of political, economic, socio-cultural and technological factors. In particular, the forecasting of natural gas supply is of great importance for energy planning and strategic decision making. This study examines different modelling techniques for forecasting Gazprom's natural gas supply. ARIMA, ELM and MLP models are used, and their performance is compared. ARIMA is a classical method often preferred in time series analysis and makes predictions based on past values of the data. ELM is a model based on artificial neural networks and has a fast-learning capability. MLP is a deep learning method with the ability to model complex relationships thanks to its layered structure. As a result of the comparisons, the MLP model was found to perform best. MLP has the lowest error criterion and is more successful than other models in forecasting natural gas supply. This can be attributed to the complexity of the MLP and its strong learning ability.

Keywords

Gazprom, Natural gas, ARIMA, Machine learning

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