The completion of TANAP in Turkey represents a significant milestone in the development of the European gas pipeline infrastructure. It will allow significant volumes of gas from Azerbaijan transiting to other European markets through TAP. Both strings of the TurkStream pipeline across the Black Sea were completed in 2018. They will provide Russia with an alternative route into Turkey and Southeast Europe. Nord Stream 2 continues to make progress despite significant hurdles. However, the commercial arguments for the pipeline remain robust and pipe laying work is at an advanced stage. Summer winter price spreads at European gas hubs have been much higher in 2019 than previous years. This means storage/capacity owners will make significant profits from storage for the first time in several years. LNG imports are beginning to increase with the commissioning of new US LNG export capacity – over 105 bcma (~77 mmtpa) by 2022. Average European utilisation will hit 43% in 2019.