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The European natural gas market is undergoing substantial changes in recent years. These changes are believed to have a major impact on natural gas suppliers in the market, as can be seen in the gyrations of European natural gas prices.
In this article, I present an overview of the changing European gas market, with special attention paid to the competitive situation thereof, hoping to glean implications for natural gas producers supplying that market, especially Gazprom (OGZPY) and Vermilion Energy (VET).