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Europe's Gas Winter - What's Going on in Europe?
Europe needs to replace a large proportion of its baseline or base load gas supply. In order to offset this, they have to attract LNG via the global spot market. Europe is now battling for that remaining 30% in which 70% of its own supply is all on the spot market. It's incredible competition and it only takes a brief cold spell in markets, such as China and Japan, and then we could see substantial amount of L NG being displaced to other markets. Your weather is incredibly important when it comes to your winter gas demand.