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This paper examines changing environment of natural gas market with focus on Europe. It discusses the supply demand balance suggesting that developments in recent years will likely lead to higher natural gas prices and the need for new infrastructure in order to provide energy security at affordable prices. Last decade has seen significant fluctuations in prices of natural gas globally. In middle of 2018 market signal indicates that prices have bottomed out in the first half of 2016 and now they are on upward traj...