Over the next five years the European LNG market will be transformed by a huge upturn in LNG imports. This will be a consequence of the global LNG market entering a period of over supply. Australian and US LNG ramp up means large increases in production. Growth in LNG demand in the rest of the world will not be sufficient to absorb all of this additional supply. As a result North West Europe and the UK will import much of the supply increase due to a surplus of regas capacity and an integrated and well traded market. This will fulfil Europe's position as the 'global sink' for the wider LNG market.