The stage has been set for a European natural gas price war that will help boost demand and enable both Russia and the US to increase sales to the region.The battle won’t brutalise earnings too much because gas supply is just so profitable in Europe, where prices are more than double the prevailing level in the US. And those costs probably won’t drop too far because higher carbon allowances and other climate measures are finally making the fuel’s traditional competitor, coal, less attractive.After successfully diluting planned European Union gas-market legislation to include loopholes for a controversial pipeline from Russia, Germany …read more
Source: Gulf times
