The interdependence between the natural gas (NG)
and electricity networks as two primary energy carriers has
attracted significant attention in smart grids. In this paper,
a multi-objective framework is proposed for the coordinated
operation of NG and electricity networks, addressing the economic,
dynamic security of electricity network, as well as the
security of the NG network. The proposed electricity network
includes thermal generation facilities such as NG-fired generation
units as well as the microgrid aggregators as price responsive
demands. The ε-constraint method is employed to solve
the proposed multi-objective problem and the index of critical
clearing time is employed to assess the dynamic stability
of the electricity network. The effectiveness of the proposed
framework is addressed in a case study integrating the Belgian
gas network and modified IEEE 24-bus test system. The proposed
coordinated operation of electricity and NG networks is
benchmarked against the independent operation of individual
networks.