Skip down about halfway through this article if you’ve been following coverage of the Ukraine situation’s impact on European gas markets. The interesting stuff is towards the end where analysts discuss Gazprom’s gas pricing strategy aimed to undercut competition post-2020. It’s funny that the piece basically debunks its own headline. [Financial Times]

US natural gas inventories dipped below 1 Tcf for the first time in over a decade last week, according to the EIA’s Weekly Natural Gas Storage Report released yesterday. The draw was smaller than the market anticipated, however, and futures prices declined as a result. “Working gas in storage was 953 Bcf as of Friday, March 14, 2014, according to EIA estimates. This represents a net decline of 48 Bcf from the previous week. Stocks were 932 Bcf less than last year at this time and 876 Bcf below the 5-year average of 1,829 Bcf.” [EIA]

Shell walked away from negotiations over developing an offshore deepwater natural gas field in Ukraine in January. “In January 2014, Shell exited negotiations on a production sharing agreement (PSA) related to the Skifska block in the deepwater shelf of the Black Sea,” a spokeswoman said. [Reuters]