Posted on 07/13/2022 1:31:11 PM PDT by SpeedyInTexas
European natural gas inventories rose by +84 BCF over past 7 days.
EU nat gas storage 63% full.
Current inventories at 2396 BCF.
22.8% higher than 1 year ago.
EU goal is at least 80% full by Nov 1st for winter.
(Excerpt) Read more at celsiusenergy.net ...
Nord Stream I stopped yesterday for 10 days of maintenance.
What happened on the first day it was shutdown? EU stored 0.9 BCF into storage.
At a weekly rate that would be 6.3 BCF. That would reach 65% by Nov 1st. Well below 80% goal.
Within EU, Germany and Netherlands pulled from storage yesterday while rest of EU added to storage.
EU facing heat wave right now. Cooler temps in early fall can allow for more storage build. If Nord Stream I doesn’t come back online, it will be hard for EU to reach 80%.
They need to pick up the LNG pace, get more nat gas from Algeria and Norway.
Also, RuZZia further decreased flows to Italy yesterday.
LNG is 5 times as expensive as pipeline gas. LOL.
When you need supply, prices don’t matter.
Its a sellers market.
A five fold increase to the customers, so the EU can keep annoying Russia. What will actually happen is that the EU will buy as little as possible, have covid style draconian rules on their own populations that brutally restrict usage.
And they will tell freezing Germans paying 5 times as much for the gas the government will begrudgingly allow them to buy that this is their patriotic duty.
As Pelosi says, Slobber Ukriani!
“Its a sellers market.”
Trump repeatedly warned Germany and Merkel in particular that depending on the Russians for gas was going to end up making Germany dependent on Russia. Merkel’s response was something along the line of, “This is a new world of cooperation. We needn’t fear Russia any longer. The cold war is over.” And she and the rest of the EU made fun of Trump. I’d like to say, “suck on it, Germany.” But I think they’ve learned their lesson. I don’t think Germany has it within their current DNA to ever become a significant power again. The government is designed to be fractured and helpless and the design is working very well. It’s amazing if it can even hold a government together, let alone satisfy the insane demands of the various wildly different factions that must, under their constitution, cooperate to do anything significant. It appears nuclear power is out forever. Coal is out forever and they’re doing creative accounting to lie about how Green they are. (While buying coal generated power from the eastern countries, thus exporting their pollution.) If I was a young German, I’d immigrate someplace else.
“Trump repeatedly warned Germany and Merkel”
You are right. Trump mailed Merkel a white flag of surrender because of it.
Because Germany didn’t diversify its energy mix, its energy bills were artificially low. Now they have high prices.
Germany has 6th largest proven coal reserves. Ignore the climate nazis and burn coal.
Germany has been burning both hard coal and lignite since at least last December. They don’t like to talk about it but reality doesn’t care.
“Alliance 90/The Greens increased their representation by 5.9%, raising their percentage from 8.9% to 14.8%. That translated into 118 Bundestag seats, making the Greens the third parliamentary force, behind SPD (206 seats) and CDU/CSU (197 seats).”
While not controlling anything, the Greens have made themselves into King makers. Anything the German government wants to do almost certainly must be signed off on by the Greens. That means the climate Nazis, while not in control, certainly can control a lot. Want to buy some tanks? Better fund “sustainable” fuel for them. (That sort of thing.) So, forget about actually burning coal. The whole reason the Russians funded the Greens was to stymie any German energy independence. That’s the weak point of any representative government.
Nope, it is just the US killing the Europe’s competitive edge to China’s favor. The Euros are to find out sooner or later.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.