Gas Prices in Europe - Is There a Supply Gulp?

Demand for gas natural gas has come down quite significantly already I think in the region of 15 to 17 percent at the same time if you look at the pickup we've seen from LNG flows into Europe. The net flow into Europe including Russia is only down around 12 percent year in the year so right now the flow is down by less than demand has gone down and that basically means inventory levels has been has managed to build very strongly just like we're seeing in the US right now. We had a bit of a WCI moment in the European gas market will continue to see the first month which the spot months be quite volatile and potentially trade even lower than the hundred euros that we are seeing right