Turkey needs suppliers to fuel energy hub role

Katinka Barysch at the Centre for European Reform notes that US exploitation of shale gas has changed the global market. Europe, unlikely to match the US shale gas boom, is now the only big buyer of liquefied natural gas. "LNG imports mean more competition in a market hitherto dominated by 30-year contracts with fixed volumes and prices linked to the international oil price… Gazprom and other suppliers will have to make a bigger effort to be cheap and reliable," she writes.