European gas facing a potential oversupply situation this summer?

European gas prices are now low enough to stimulate a rebalancing in the European and global LNG markets, i: n order to manage a potential summer oversupply situation. Will the fall in gas prices stimulate a further recovery in gas demand from industry, and to what extent will coal-to-gas fuel switching increase gas’ share of the power mix? Are prices low enough to incentivise a voluntary reduction in supply – whether from Norwegian producers limiting output from flexible fields, or offtakers of Algerian gas cutting deliveries under long-term contracts that still have some oil.