Uncertainty Is Rife in the European Natural Gas Market

With the current transit contract for Russian gas through Ukraine expiring at the end of this year, it’s now a desperate scramble for Slovakia, Hungary, and (to a lesser extent) Austria to secure new deals for alternative gas, while the rest of the European Union watches from the sidelines, simply hoping that new deals don’t disrupt the market. The only silver lining is that EU gas storage is pretty much full for the winter, and meteorologists are predicting a mild one. Last week, we saw Hungary’s MOL sign a unilateral deal with...