Posted on 06/22/2022 1:08:52 PM PDT by SpeedyInTexas
European natural gas inventories rose by +96 BCF over past 7 days.
EU nat gas storage 56% full.
Current inventories at 2100 BCF.
22.7% higher than 1 year ago.
EU goal is at least 80% full by Nov 1st for winter.
Once again, Why is Germany and Europe worried about “winter”?? With the Planet literally on Fire and on the verge of spontaneous combustion on a planetary scale from Man Made Global warming, WHY WORRY ABOUT WINTER???
We might as well be in outer space with Dark Helmut. We are surrounded by a**holes.
You got that right!
A friend asked if I thought Putin might nuke DC. I told her “you’ll hit the powerBall lottery before he does that. Why should he do us Americans any favors. Just saying.
Per the US Energy Information Administration, in 2019, Germany used 8.6 billion cubic feet of natural gas...per day. That's just one country of Europe.
Per Statista, total EU natural gas consumption in 2020 (which was a low year due to COVID lockdowns) was 379.9 billion cubic meters. When converting to billion cubic feet, this becomes 13,416 BCF in gas consumption in 2020.
So at 100% storage capacity (at least going by your numbers), the EU has slightly over one season's worth of natural gas consumption available in storage...and that's only if their consumption is at 2020 COVID lockdown levels.
Hope they're building more capacity...although from recent reports, it seems firing back up their old coal plants is the path they've chosen.
The matter of price for the European consumer will be an interesting point of data once this year's winter arrives, especially in light of how workers in places like Brussels are already striking in response to the higher prices in fuel and food.
“That winter was also while they were still importing gas “
True. And the EU will continue to import gas thru the winter. Maybe not from RuZZia, but from Norway, Algeria, LNG, etc. LNG imports are still running at near records.
The nat gas in storage is used to supplement imports during the heavy usage winter time period.
RuZZia reduced nat gas exports to the EU starting last Friday. I was surprised that the EU continued to add to storage every day over the past week. Daily storage adds were: 13, 11, 12, 14, 17, 17, 12 BCF over last week.
Bummer for Europe that Canada will not permit the Russians to resume exports of their natural gas.
Perhaps they can burn plastic, tires and feces next winter to keep warm. This should keep their industry spinning like a top too. Worked in Kabul, might work good enough in Western Europe too. All one needs is a positive attitude and gumption.
US LNG exports bringing a bunch of money into USA. Don’t worry about Canada.
“US LNG exports bringing a bunch of money into USA. Don’t worry about Canada.”
I’m fine with that, but too bad we ran the Freeport Terminal too hard and blew it up.
It will be back up later this year.
“It will be back up later this year.”
Not from what I hear from my neighbor in the business, early next year now - and only if all goes well.
News release 2 days ago. Partial operation in September. Fully operationally by end the year.
https://www.enr.com/articles/54317-shutdown-extended-of-fire-damaged-texas-lng-export-site
“Freeport LNG expects partial operation to resume in early September at its $13.5-billion liquefied natural gas plant and export terminal in Freeport, Texas, following a June 8 gas leak-triggered fire and explosion in its piping system. But the firm said it could take until the end of 2022 for all repairs and regulatory clearances to enable full operation of the facility—which accounts for about 20% of total U.S. export capacity and about 4% of global capacity. The shutdown has already generated unease in key LNG supply markets, particularly in Europe.”
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