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the price dynamics of natural gas have been dominated in the past 2 years by the unexpected emergence of shale gas in the US - there has been a temporary, but very significant, surplus of natgas, thus leading to lower prices, and disconnecting gas prices from oil prices. There are simply not enough players able to arbitrage away the difference.

And lower natgas prices in the US are passed on partially to Europe as these past two years were supposed to see massive arrival of Qatari LNG into the US, volumes which instead went to Europe and helped depress prices there to some extent (at least in the UK, but less in Europe where prices are more dominated by oil-indexed Russian contracts).

Wind power

by Jerome a Paris (etg@eurotrib.com) on Mon Aug 23rd, 2010 at 04:16:33 AM EST
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