European Gas : End of the Summer-Winter Cycle ?

An interesting article on talks about how there is a perception of a glut in supply in the European gas markets, which is leading to almost no difference between summer and winter gas prices for 2010. The low gas prices (coupled with the low carbon prices) also mean that owners of gas-fired power plants are laughing all the way to the bank.

A large contributor to the glut is the emergence of shale gas as a viable option in the US and ,in the future, in Europe.

Seems a far cry from last year's fears of European dependence on Russian gas and being held hostage by a great angry bear.

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