Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.

Poland Surges Towards Energy Sovereignty

by Oui Tue Dec 21st, 2021 at 04:25:04 PM EST

See follow-up diary …

Biden and US Corps to Compete In EU Gas Deal | by Oui Tue Feb 1st, 2022 |

[Update on nuclear power plants in France boosting energy prices]

Poland shuts down Yamal-Europe Pipeline as it switches to alternate suppliers LNG from Qatar, Norway and USA. Gas spot price surges to new record.

Russian natural gas exports to Europe via Yamal pipeline drop sharply

Poland's post-Gazprom supply conundrum | ICIS - Feb. 15, 2021 |

Delays to US LNG project funding and the restart of Danish gas production may leave Poland more exposed to the spot market from 2023 than initially intended.

State-owned supplier PGNiG's 26 year-long Yamal pipeline supply contract with Russian producer Gazprom expires in the end of next year.

PGNiG is Poland's largest oil and gas company, dominating the industry from exploration to storage as well as transmission and trading.

The company planned to partially backfill the end of Russian supply with LNG contracts. However, two such agreements starting in 2023 are still awaiting final investment decisions (FIDs) for construction of LNG export plants, with one facility now aiming for a 2024 operations start-up.

Another supply opportunity for PGNiG came from the 10bcm/year Baltic pipe project, due to link Norway, Denmark and Poland once operational in autumn 2022.

In 2017, PGNiG booked enough capacity on the pipeline to replace 80% of volumes currently supplied by Russia.

Poland in the grip of Yamal | Energy Europe - April 17, 2020 |

Poland has finally and irrevocably decided that after 2022 it will break free from the Yamal contract, under which it purchases natural gas from Russia. In the future, it intends to buy gas from Norway, the European Union, the United States, and Qatar. For now, however, the Baltic Pipe gas pipeline, through which gas will come from Norway, is not yet ready and a new terminal for liquefied natural gas (LNG), in which the EU is investing nearly €128 million, has not yet been expanded. In these circumstances, a number of experts are suggesting that Poland may not manage to implement its plans by the time its contract with Gazprom expires.

Unforeseen Danish local bat and mice populations causes delay in Baltic pipeline ...

Baltic Pipe delay to push Poland back into Russia's arms | Deutsche Welle - July 23, 2021 |

Playing politics and not smart economics -- the consumer picks up the bill as the gas price has increased 600% since the summer.

European natural gas prices rise further as freezing weather arrives | FT |

Gazprom: Transportation routes Russian gas to Europe

Alexander Lukashenka threatens to block the Yamal-Europe gas pipeline if Poland and Lithuania close the border with Belarus.

Poland and Gazprom failed to agree on a price for a contract renewal.

Z Jamału pod rynnę? -- From Yamal to the gutter?

The recent perturbations on the blue fuel market have made questions about the situation of Poland resound after the Yamal contract with Russia expires at the end of 2022. According to Gazprom's narrative, only long-term contracts protect importers against price fluctuations.

This logic does not hold true for a contract with Russia, as evidenced by the fact that Polskie Górnictwo Naftowe i Gazownictwo has recently proposed to renegotiate the terms on which we buy fuel. - In our opinion, there is room for lowering the price - said the president of the Polish company, Paweł Majewski, without revealing the details of the offer. It was another initiative of the Polish concern aimed at changing the conditions of purchasing the contracted raw material. PGNiG issued a similar request in November last year.

Lublin Triangle Summit: Poland, Lithuania to support Ukraine in light of Russia's movements on border

At the European Summit on March 20th and 21st in 2014, government leaders were supposed to agree climate and energy targets for 2030. Instead, they discussed Crimea, Ukraine and Russia. Leaders were right to postpone discussion of the targets, but wrong to postpone action on reducing Europe's dependence on Russian gas.

Europe and NATO have thrown the booklet on diplomacy out of the window ...

[Update-1] Nuclear Power In Europe

Four Nuclear Plants Shut Down In France

Reactors of the Civaux and Chooz nuclear power plants: replacements and preventive checks on parts of the piping of a safety system

During preventive maintenance checks on the primary circuit of reactor number 1 of the Civaux Nuclear Power Plant (in the Vienne Department of France), scheduled as part of its ten-yearly in-service inspection, some defaults were detected close to the welds on the pipes of the safety injection system (SIS[1>) circuit. The French nuclear safety authority, Autorité de Sûreté Nucléaire (ASN) was informed of this detection.

Checks initiated on the same equipment of reactor number 2 of the Civaux Nuclear Power Plant revealed similar defects.

Today, a decision has been taken to replace the affected parts on the two Civaux reactors, the work being governed by a technical instruction prepared in cooperation with the ASN, which leads to extend the shutdown of the two reactors.

The four reactors of the Chooz (in the Ardennes Department) and Civaux nuclear power plants use the same technology and form the N4 reactor series of the French nuclear fleet.

Phasing Out Nuclear Energy

Business Case Nuclear Energy

EDF Energy England

Nuclear Energy Production Finland

Finnish nuclear power plant Olkiluoto receives permission to startup its third unit


Lacking Energy Policy, EU Consumers Left to Dry 😡

See also update on France with 4 nuclear power stations shutdown, became an electricity importer instead of exporter overnight!

France reinvents nuclear power policy in €30bn investment - with an eye on China

'Sapere aude'

by Oui (Oui) on Wed Dec 22nd, 2021 at 11:40:48 AM EST

The German power suppliers RWE and Uniper, both among the largest customers of Gazprom, said the state firm was meeting its delivery obligations.

The pipeline reversal has added to other pressures that have kept gas prices high for much of 2021, with knock-on effects that have included a raft of UK energy suppliers going bust.

Underlying factors fuelling the fresh spikes include colder weather and strong power station demand, with some French nuclear plants closed to address safety concerns.

Ships carrying liquefied natural gas bound for Asia have been turning around to supply European consumers willing to pay a large premium amid price spikes, the Financial Times reported this week.

'Sapere aude'
by Oui (Oui) on Wed Dec 22nd, 2021 at 01:46:35 PM EST

Statement by the North Atlantic Council on the situation in and around Ukraine

NATO HQ has not given up on "securing" Georgia from evil Russia ...

PM Irakli Garibashvili meeting

President Ilham Aliyev in Azerbaijan

'Sapere aude'

by Oui (Oui) on Wed Dec 22nd, 2021 at 02:21:49 PM EST
[ Parent ]
Considered state aid in the EU of Brussels ... liberalization of energy markets is written in stone.

Since August, 25 suppliers have fallen victim to surging prices, which left them paying far more for gas but selling it for far less because of an energy price cap that was intended to protect bill payers.

The regulator, Ofgem, arranged for healthy competitors to take on the collapsed firms' customers via its "supplier of last resort" scheme, which prevents disruption to household supply.

But agreeing to serve so many extra customers meant the suppliers of last resort had to buy more energy on wholesale markets. They can charge that cost - £1.83bn, according to Ofgem disclosures - to local gas and electricity distribution networks from April.

"Ofgem's safety net has protected more than 4 million customers through the unprecedented global gas prices this year, making sure they have an energy supplier and household credit balances are honoured," a spokesperson for the regulator said.

'Sapere aude'
by Oui (Oui) on Wed Dec 22nd, 2021 at 08:02:26 PM EST
In The Netherlands energy giant ENECO took over customers of collapsed firms and paid €20 a piece. Customers were left with payments that could not be recovered. In cut-throat deal ENECO forced customers into a flex price contract at a double rate.

Municipalities approve Eneco takeover by Mitsubishi despite WWII history | Jan. 31, 2020 |

'Sapere aude'

by Oui (Oui) on Wed Dec 22nd, 2021 at 08:03:24 PM EST
[ Parent ]
Moral of the story: Don't burn your bridge until you have an alternative well in place.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Dec 22nd, 2021 at 08:28:58 PM EST
US LNG, its competition with Russian gas, and the implications for the EU

But the real LNG game changer is US LNG. This new source of gas, the result of the `shale revolution' that has taken place in the US since the mid-2000s - and that has rendered the US a net exporter of natural gas - has already transformed global gas market dynamics. US LNG is a highly flexible source of gas.

It is sold by private companies to the highest bidder (apart from some contracts with Poland and Lithuania, where buyers are willing to pay a `diversification premium'. This means that if buyers outside of Europe offer better prices (depending also on shipping cost differentials) shippers of US LNG would supply them instead of Europe. US LNG is thus usually not a `guaranteed' or `point-to-point' source of gas.

Russia-Poland gas relationship: risks and uncertainties of the ever after | Oxford Energy Insight |

The existing long-term contracts (LTCs) between Poland and Russia for the transit and supply of natural gas are coming to an end, with the transit contract expiring on 17 May 2020. As suggested by a recent OIES insight, Russia's requirements for Polish transit in the second half of 2020 could be secured by short-term bookings rather than a new long-term transit contract.

Indeed, this is what happened at the beginning of May when Gazprom booked 80 per cent of capacity of the EuRoPol pipeline (the Polish segment of Yamal-Europe), under the new auction system for Q3 2020 when it will be needed to substitute for Nord Stream transit which will be halted in July for regular summer maintenance.

Gazprom also secured a very advantageous transit tariff for Q3 2020 for the capacity which was offered by Gaz System, the Polish gas system operator, at its regular auctions, conducted under the EU Capacity Allocation Mechanism (CAM) network code.

'Sapere aude'
by Oui (Oui) on Wed Dec 22nd, 2021 at 09:53:42 PM EST
Natural Gas EU Dutch TTF (EUR)

Natural gas prices in Europe fell to below €72 per megawatt-hour, approaching levels not seen since mid-November, amid rising LNG flows, higher wind power output, and as more gas from storage facilities in Germany is being used. So far this month, the European Union has received five more times of gas from the US than from Russia, according to the Hungarian Remix. Meanwhile, gas supplies via the Yamal-Europe pipeline, which usually sends Russian gas west into Europe, have been running in a reverse mode eastward for a 30th successive day, Reuters reported. Gazprom recently said it has not booked any capacity to pump gas to Europe through the Yamal pipeline and traders hope supplies will not be disrupted by the Russian-Ukrainian crisis after the US discussed contingency plans for supplying natural gas to Europe with several international energy companies.

Europe's gas crisis: Could LNG help boost energy security? | DW News |

'Sapere aude'

by Oui (Oui) on Fri Jan 21st, 2022 at 12:32:36 AM EST
[ Parent ]
I think we need a diary to explore the question of how dependent is Europe on Russian gas supplies. In the event of a new war in the Ukraine (which seems more likely by the day) we are sure to find out quickly.

The invisible hand is at work: electricity and gas will cost a zillion dollars, so the market will provide (hum household diesel generators anyone? Welcome to the rest of the world!)

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Thu Dec 23rd, 2021 at 02:41:54 PM EST
Certainly have appreciated the writings here @EuroTrib over the many years and have added some of Jerome a Paris to my hotlist.

Check this comment from 2005 ... the beginning of a fissure opening between NATO and Russia where energy would be used as leverage. Both Poland and the Ukraine were given keys to close the spigots and cut Russian gas flowing into "Old Europe".

The situation today feels as bad as the Arab oil crisis of 1973.

Re: All Quiet on the Western Front

Thanks for this diary, and welcome on eurotrib!

Ukraine is always a topic of interest to me, as I wrote my PhD dissertation in 1995 on the independence of Ukraine, and I have little to add on your description of the overall situation.

On the gas situation, I'll refer you to my recent front page stories on various pipelines, one of which was the Ukrainian gas situation:

3 Items of note on the topic of pipelines this morning

I don't think the Russians will manage to increase the price of gas shipped to Ukraine.

by Jerome a Paris (etg@eurotrib.com) on Tue Dec 20th, 2005 at 01:14:47 PM PDT

Russian-Ukrainian gas deal - what's behind it?

Iraqi Oil - the $250bn gift to Saudi Arabia and Russia

Additional reading ...

Can Russia Really Solve Europe's Gas Woes on Its Own? | Carnegie Moscow - Oct.21, 2021 |

Russia's Gazprom controls gas transport to Europe, SE Asia and China

Supplier and customers are interdependent, Gazprom and Putin do want to be partner based on longterm contracts. Playing politics in US Congress and the White House produces a lot of noise and uncertainty. NATO's Stoltenberg and the US Commander should just shut up. The EU Commission in Brussels have taken a rumble seat.

'Sapere aude'

by Oui (Oui) on Thu Dec 23rd, 2021 at 04:27:35 PM EST
[ Parent ]
AFAIK, Russia provides 40% of the NG Europe uses (100% for some countries and 1% for some) and 30% of the crude. So EU is pretty dependent and can't find replacement energy within a decade or so - if at all.

I don't see a war in Ukraine possible, unless Ukraine does something very, very stupid (which is always a possibility).

Russia has nothing to gain but a lot to loose in that conflict, while it does have some "red lines". Considering that Putin got USA administration talking about Minks Accords again, I would expect slow turn towards de-escalation in Ukraine.

On the other hand, if the "security co-operation" doesn't advance on a minimum pace Russia expects, there will be actions that put pressure on USA to come to the table. Not shooting was actions, but "freedom of navigation" passages in gulf of Mexico etc. A pair of Tu-160 doing patrols along the coast from Seattle to Los Angeles.

Short range nuclear missiles in Kaliningrad and Belarus. Sale of modern weapons to Iran. The list is endless, and Russia has total control of escalation and pressure at the moment. It would be much easier to actually sit down and negotiate with Russia than wait for the next move. And next. And next. But I guess the "collective West" is captured by it's own propaganda for now: "Putin understands only toughness", "Putin wants to recreate Soviet Union", "NATO doesn't threaten anyone" etc ad nauseam.

by pelgus on Thu Dec 23rd, 2021 at 04:57:25 PM EST
[ Parent ]
OK, but what does Putin actually want?
What he says he wants is a return to the military position of ... 1998.
That is a non-starter; the problem is that bad things happens in neighbours of Russia that do not have security guarantees from outside (Georgia; Moldova; Ukraine; non exhaustive list).

The idea that the Baltic states and Poland, for example, will choose to quit NATO because Putin wants them to, seems frankly a bit far-fetched.

So ... would he settle for de-facto annexation of the occupied part of Ukraine? Or what?  

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Fri Dec 24th, 2021 at 12:00:08 PM EST
[ Parent ]
Return to diplomacy and partnership with NATO. No further expansion of NATO to border states of Russia. End stupid sanctions to cripple economies of sovereign nations for the sake of capitalism. Stop the bullying and adhere to International law, stop state terror. Stop extrajudicial killings, torture and support of dictatorial regimes for the sake of MIC. Learn lessons from past mistakes. Restart talks to limit nuclear weapons and stationing of missiles across Europe. Ban some idiots causing dysfunctioning of US Congress.

'Sapere aude'
by Oui (Oui) on Fri Dec 24th, 2021 at 12:41:59 PM EST
[ Parent ]
From the US viewpoint, if a nice little war in Ukraine causes Poland et al. to shut off their Russian gas agreements and buy from the US of A instead, that is ok. Because there will be absolutely no strings attached to any deal with the US. Just ask anybody!
by asdf on Fri Dec 24th, 2021 at 05:45:59 PM EST
[ Parent ]
The all-time peak of France's electricity imports happened... this Monday morning. 13 407 MW. I think I'm alarmed.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Thu Dec 23rd, 2021 at 02:50:14 PM EST
And the peaks and troughs in French imports correspond with ... German hard-coal generation (and to a lesser extent, lignite and gas).
Also, Spanish (i.e. Algerian) gas.
There is the spare, on-demand capacity to cover French nuclear troubles.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Thu Dec 23rd, 2021 at 04:02:12 PM EST
[ Parent ]
Democrats threaten to play hardball over Cruz's blockade | The Hill |

Democrats are threatening hardball tactics as they try to break a blockade by Sen. Ted Cruz (R-Texas) that has left dozens of President Biden's State Department nominees in limbo.

Democrats and the conservative firebrand are struggling to make progress toward an agreement that would trade votes on some of Biden's ambassador nominees for a vote on sanctions related to the construction of the Russian Nord Stream 2 pipeline, a longstanding goal for Cruz, who has ensnared nominations across the State Department, the Treasury Department and the U.S. Agency of International Development (USAID).

Absent a deal, Democrats are warning that they are willing to keep the Senate in Washington, D.C., heading into Christmas. Senators had been scheduled to leave town for the year on Friday, and the House left early Wednesday morning until January. 

"Democrats are working to clear as much of the backlog as possible by consent. If we cannot make much progress, we may need to stay and hold votes on nominees this weekend and next week until we do," said Senate Majority Leader Charles Schumer (D-N.Y.).

Sen. Dick Durbin (D-Ill.), Schumer's No. 2, added that the ambassador nominations were something "we want to do before we leave for Christmas." 

Asked about the potential of keeping the Senate in town next week to confirm nominations, Durbin added: "I hope we don't have to." 

Cruz has been holding up Biden's State Department nominees for months over a push to get a vote on, or implementation of, Nord Stream 2 pipeline sanctions. 

U.S. senator gets vote on Nord Stream 2 sanctions, in deal over envoy approvals

'Sapere aude'

by Oui (Oui) on Thu Dec 23rd, 2021 at 05:47:42 PM EST
Putin warns that Russia would respond "appropriately" to NATO expansion

'Sapere aude'
by Oui (Oui) on Thu Dec 23rd, 2021 at 06:51:07 PM EST
[ Parent ]
The dash away from gas: how the Netherlands kicked a big fossil fuel habit

The Netherlands plans to abandon its gas grid and use this monumental shift to drive the decarbonisation of its wider built environment. Natural gas is to the Netherlands what oil is to the Gulf States and it has completely shaped its economic and industrial legacy. In 1959, the ninth largest natural gas field in the world Slochteren was discovered in the northern province of Groningen and within just five years, nearly all Dutch homes were connected to the gas grid.

As of 2018, gas heated nine in every ten homes in the Netherlands and 38% of total energy consumption went towards heating (of which over half goes to residential buildings). [Today industrial consumption 42.2% and residential 19.2%] The change came following a series of earthquakes caused by fracking [? nonsense], which created a huge public outcry. In 2019, the Dutch decided to go completely gas-free by 2050, and to halt domestic production by 2030 - although this could happen as early as 2022.

In March 2018, the EU called upon its member states to create specific Integrated National Energy and Climate Plans (NECP) to aid continent-wide decarbonisation efforts. This led the Dutch government to bring together a wide range of civil society organisations (labour unions, NGOs, business associations and local authorities) to help draw up its national climate commitments. The final text was published in December 2018.

Judgment in the climate case brought by Urgenda against the State of the Netherlands

Additional reading ...

Natural Gas in the Netherlands | Clingendael |

'Sapere aude'

by Oui (Oui) on Thu Dec 23rd, 2021 at 08:38:15 PM EST
IHT - Putin expected to focus on energy in Dutch visit | Nov. 3, 2005 |

AMSTERDAM Nov. 2 -- Putin and his wife, Lyudmila, were welcomed by Queen Beatrix and her son, Crown Prince Willem Alexander, at the airport, and the group then drove to the royal palace in Amsterdam. Putin walked across Dam Square to pay respects to Dutch war victims at the national monument. The police had sealed off the square in the center of the Dutch capital hours before.

The Russian president was also to visit Zaandam, a town where Czar Peter the Great spent several months in 1697 studying Dutch shipbuilding.

Putin was repaying a 2001 state visit by Queen Beatrix. He had been due to visit in 2002, but the trip was postponed when terrorists seized 800 hostages at a Moscow theater in a siege that ended with 170 people dead.

Although Putin has made business trips to the Netherlands before, it is the first state visit by a Russian leader since Czar Alexander II in 1874.

'Dutch continued with secret gas talks with Russia, despite MH17,' says FTM | March 2021 |

'Sapere aude'

by Oui (Oui) on Thu Dec 23rd, 2021 at 08:39:36 PM EST
[ Parent ]

After Poltava: Peter the Great and the problem of Sweden, 1709-1724

'Sapere aude'

by Oui (Oui) on Sat Dec 25th, 2021 at 04:08:07 PM EST
[ Parent ]
European Gas Drops 18% As US Sends LNG Flotilla

The news of the flotilla sent the benchmark Dutch front-month gas spiraling down 18% to 141 euros in Amsterdam, wiping out this week's gains. 

Plunging gas prices were a relief for European power customers. French power contracts tumbled 24% to 775 euros per megawatt-hour and German electricity fell 15% to 277 euros per megawatt-hour. 

The reason for the flotilla is that the European and U.S. natgas spread is the widest ever and well over a 15-year range. The hefty premium has made it worthwhile for commodity traders to take advantage of massive arbitrage opportunities. 

'Sapere aude'
by Oui (Oui) on Fri Dec 24th, 2021 at 05:57:23 PM EST

'Sapere aude'
by Oui (Oui) on Fri Dec 24th, 2021 at 05:58:53 PM EST
[ Parent ]
Squeezed by Plant Outages, Asia's LNG Buyers Return to Spot Market for Replacement Cargoes

Shell ordered to shut down Prelude floating LNG until it is safe

Shell Prelude Australia

'Sapere aude'

by Oui (Oui) on Fri Dec 24th, 2021 at 06:26:30 PM EST

A decision by the WA Environmental Protection Authority in mid-2019 which opened up Woodside's two LNG plants to decades of further production was tested in the WA Supreme Court

'Sapere aude'

by Oui (Oui) on Fri Dec 24th, 2021 at 06:28:53 PM EST
[ Parent ]
After shutting down Nord Steam 2, the U.S. Cavalry to the rescue of deprived European states ... at inflated prices.

More LNG Cargoes Head to Europe to Ease Energy Crisis | Bloomberg |

European natural gas prices headed for a third day of sharp declines as more tankers are crossing the Atlantic with U.S. fuel to the energy-starved region. At least 15 vessels with liquefied natural gas declared Western European ports as their destinations as of Thursday, up from 10 on Wednesday, shipping data compiled by Bloomberg show. Plus, there are another 11 U.S. LNG cargoes with undeclared destinations whose paths suggest they are headed for Europe.

LNG WRAP: Asia Stays at Discount as U.S. Cargoes Head to Europe | Bloomberg |

Benchmark Dutch front-month gas dropped below 100 euros a megawatt-hour for the first time in two weeks, falling as much as 26% to 98.58 euros after slumping 23% on Thursday. Prices, which hit fresh records earlier this week, are tumbling on hopes that increased LNG supply will ease the continent's energy crunch.

US gas price tumbles on bearish winter outlook ...

Truthtellers @CNBC ...

The U.S. was right -- Europe has become a `hostage' to Russia over energy, analysts warn | CNBC - Oct. 7, 2021 |

U.S. natural gas sinks, on track for worst month in three years | CNBC - No. 30, 2021 |

Opening the European LNG markets ... can de warmongering on the Eastern Front ease now?

'Sapere aude'

by Oui (Oui) on Sat Dec 25th, 2021 at 11:24:38 AM EST
Obviously it is bad to be a hostage to Russia or China, but good to be a hostage to the USA. What is the problem?
by asdf on Sun Dec 26th, 2021 at 04:48:19 PM EST
[ Parent ]

Asian spot LNG prices return to fresh highs

'Sapere aude'

by Oui (Oui) on Sat Dec 25th, 2021 at 08:14:54 PM EST

'Sapere aude'
by Oui (Oui) on Sat Dec 25th, 2021 at 08:15:48 PM EST
[ Parent ]

'Sapere aude'
by Oui (Oui) on Sat Dec 25th, 2021 at 11:58:42 PM EST
Certainly, European gas buyers under-ordered considerably, neglected their obligation to fill storage capacity over summer, and apparently aren't going back to Gazprom to buy more.

One suspects this is all a matter of underestimation of demand (unexpected economic rebound, French nuclear maintenance), and hardball commercial negotiations : Gazprom will only give extra supply in return for higher baseline prices, for example... at least, that is a sufficient explanation without reaching for political complications.

But perhaps suppliers were anticipating LNG would come to the rescue; gas being perfectly fungible, and Europe well-equipped with LPG terminals.

The short-term squeeze is over, with weather less cold and lower industrial production over the holidays. But all of this is a salutary lesson for Europe. And particularly, for Germany : the whole Energiewende as currently planned, depends heavily on gas to generate peak electricity while shutting down nuclear and coal.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Mon Dec 27th, 2021 at 03:16:35 PM EST
[ Parent ]
U.S. LNG exporters turn their attention to Europe

Cold-stricken Europe is drawing a flotilla of U.S. liquefied natural gas cargoes amid an energy crisis that has sent gas prices to record levels.

Facing a winter shortage and little relief from the continent's main supplier Russia, natural gas in Northwest Europe is trading for about $57.54 per million British thermal units, up almost a third from a week earlier. That's roughly $24 higher than Asian prices and more than 14 times higher than gas being sold on U.S. benchmark Henry Hub.

Out of 76 U.S. LNG cargoes in transit, 10 tankers carrying a combined 1.6 million cubic meters of the heating and power plant fuel have declared destinations in Europe, shipping data compiled by Bloomberg shows. Another 20 tankers carrying an estimated 3.3 million cubic meters appear to be crossing the Atlantic Ocean and are on a path to the continent. Nearly one-third of the cargoes come from Cheniere Energy Inc.'s Sabine Pass LNG export terminal in Louisiana, the shipping data shows.

U.S. LNG export terminals are operating at or above capacity after reaching record flows on Sunday. Asia is typically the top destination for U.S. LNG cargoes, but that has changed this winter with the significant premium for gas in Europe.

'Sapere aude'
by Oui (Oui) on Sun Dec 26th, 2021 at 02:44:09 PM EST

As factories shut down due to extreme high energy prices ...

'Sapere aude'
by Oui (Oui) on Sun Dec 26th, 2021 at 02:45:40 PM EST
Kosovo Electricity Grid Starts Operating Independently from Serbia | Balkan Insight - Dec. 15, 2020 |

Electricity network system operator KOSTT began to operate independently in a newly-established regulatory area covering the whole of Kosovo, including the Serb-majority north of the country, Kosovo's Foreign Ministry announced.

The move gives KOSTT independence from the Serbian operator, EMS, which up to now was distributing electricity to Serb-dominated municipalities in northern Kosovo.

KOSTT has also linked up with Albania to establish a Kosovo-Albania energy bloc.

Kosovo introduces power cuts due to energy crisis

'Sapere aude'

by Oui (Oui) on Sun Dec 26th, 2021 at 02:46:44 PM EST

'Sapere aude'
by Oui (Oui) on Sun Dec 26th, 2021 at 02:47:53 PM EST
[ Parent ]

'Sapere aude'
by Oui (Oui) on Thu Dec 30th, 2021 at 08:27:29 PM EST

Natural Gas EU Dutch TTF (€)

EU natural gas prices ended 2021 below €80 per megawatt-hour, the lowest since November 12th and almost 55% below last week's record €180.27, as a flotilla of US LNG tankers and warmer weather provided relief from one of the worst natural gas crunches the region has seen.

'Sapere aude'

by Oui (Oui) on Sat Jan 1st, 2022 at 02:26:19 PM EST
Blow to Polish rival PGNiG as EU court upholds Gazprom antitrust settlement | Reuters |

Gazprom's critics suffered a blow when the European Union's second highest court upheld a 2018 decision that let the Russian gas giant settle a long-running antitrust investigation without paying a fine.

The European Commission, the EU's competition enforcer, in 2018 accepted Gazprom's concessions, which included a pledge to reform its pricing structure and allow rivals a foothold in eastern Europe. That allowed the company to avoid a fine that could be as much as 10% of its global turnover.

Polish rival PGNiG, the Polish government and some eastern European countries criticised the settlement for being too soft on Gazprom, contrasting it with hefty EU antitrust fines for U.S. tech giant Google.

Gazprom declined to comment. At the time of the initial ruling in 2018 it welcomed the verdict, calling it "the most reasonable outcome for the well-functioning of the entire European gas market."

Gazprom had to allow clients to ask for lower prices when its prices diverged from benchmarks such as Western European gas market hubs, scrapping its old system of linking prices to the cost of oil.

'Sapere aude'
by Oui (Oui) on Sat Feb 5th, 2022 at 12:03:38 AM EST

Macron calls for 'French nuclear renaissance'

'Sapere aude'

by Oui (Oui) on Sat Feb 12th, 2022 at 01:52:46 AM EST

Investing in fossil fuels amidst an energy price shock: the case of Greece | EurActiv - Nov. 4, 2021 |

Thus lignite is brown coal, the worst for energy production.

'Sapere aude'

by Oui (Oui) on Tue Feb 15th, 2022 at 10:55:40 AM EST

Go to: [ European Tribune Homepage : Top of page : Top of comments ]