The closure of GB’s largest gas storage facility (Rough) led to concerns among market observers and participants of supply shortages and increased GB gas price volatility. This viewpoint explores what sources replaced the supply gap left by Rough (and higher demand) and their impact on price volatility. We find that domestic production and increased EU imports – not LNG – filled the gap. While this does increase GB’s price exposure to the EU market but not necessarily its price volatility – pending future EU-GB gas trade arrangements. READ ECA VIEWPOINT HERE