Russian gas giant Gazprom doesn’t see the glut in Europe’s natural gas market going away soon, with oversupply extending well into 2021. “The majority of challenges and threats are still here. One of them is general oversupply, which we are likely to see in 2021 as well,” Elena Burmistrova, Director General of Gazprom Export, said on Monday, as quoted by Reuters . The glut in the European market was created earlier this year as demand slumped with the coronavirus pandemic that led to a decline in economic activity. In the spring of 2020, Europe was so awash with natural gas amid weak demand and limited storage capacity that gas suppliers were facing the possibility of cutting flows to prevent natural gas prices from plunging further. Demand for natural gas was very weak as major economies in Europe were emerging from lockdowns while gas in storage across the continent was […]