European natural gas supply has 2 main components:
- Pipe line gas (Russia, North Sea, Algeria etc..)
- L.N.G (Middle East, West Africa, West Indies, Algeria, Egypt, Lybia)
Long term contracted gas prices are hampered by their linking to oil prices.
LNG s premium market is now in the Far East (after Fukushima)
Cheap gas i.e. shale gas may be a key to revive European industrial landscape.