Bloomberg reported that Shell has said that, in order to remain competitive with coal and other energy sources, they need to be able to achieve $120 per ton of carbon dioxide for natural gas.

As quoted in the market report:

European electricity generators reduced purchases of gas by about 2.3 billion cubic feet a day this year, or about 3.8 percent of Europe’s total consumption, because of cheaper U.S. coal shipments, according to Andy Brown, upstream director at Shell.

To view the whole Bloomberg report, click here.