Editorial Comment

With Henry Hub (HH) natural gas prices almost twice as high year over year, as of the time of writing in late October, and similarly record-high prices in Europe and Asia driving competition for LNG, the gas market is rife with tension. Below-average storage levels heading into the heating season have boosted demand for U.S. LNG and exacerbated tensions among EU governments. With electricity prices expected to soar over the 2021–2022 winter, the European Commission is floating the idea of joint purchases of natural gas by EU countries and an overhaul of power markets. Wealthy, climate-driven countries in northern Europe insist that the present crisis is not tied to EU green ambitions, while