Posted on 10/20/2022 5:35:28 AM PDT by SpeedyInTexas
European natural gas inventories rose by +181 BCF over past 3 weeks.
EU nat gas storage 93% full.
Current inventories at 3563 BCF.
22.4% higher than 1 year ago.
EU goal is at least 80% full by Nov 1st for winter.
Current projection is for EU to reach 93% by Nov 1st.
(Excerpt) Read more at celsiusenergy.net ...
EU should start withdrawing from storage in another 2-3 weeks.
Going to be interesting to see the withdrawal rate.
This is really going to mess up the plan...
More profit for Texas gas companies.
I hate stuff like this without complete information (I do blame my lack of knowledge). This seems like a really good thing, however is it really.
Hoping this is a good thing, so I am not being negative. But don’t they need to supplement this supply during really cold winters? What is the burn rate of this inventory with a really cold winter and a trickle of supply replenishment?
Aren’t they still making people conserve fuel and a lot of homes are burning wood? Or is all this a thing of the past?
As the fall and winter go on, you should post this information monthly. It would be interesting to follow.
“But don’t they need to supplement this supply during really cold winters? “
The nat gas in storage will supplement on going supplies. The EU is still getting piped nat gas from several countries (norway, algeria, belgium/netherlands) plus continuous LNG shipments.
The storage isn’t the sole supply.
“Aren’t they still making people conserve fuel and a lot of homes are burning wood? Or is all this a thing of the past?”
Conservation is still needed for sure.
But winter will come and go.
I will. The withdrawal rate will be more interesting than the storage build rate.
How much of that is coming from US sources? How much of that is responsible for the massive increases in costs in New England, USA? How long before sharing our gas to pump up euro support for the Uke quagmire brings massive cost increases for Everytown, USA?
How are diesel inventories in the United States doing?
What about the suffering that will come with the high price of heating? The rich will get richer as the poor will gather in the streets and topple elitist governments for real regime change.
Must not be good. Diesel is 2 bucks a gallon more than gas here.
Thanks. This is good news! Not that I am a big Europe fan, I am a people fan though and don’t want anyone to suffer (except politicians at the polls).
Hopefully the current US cold snap will wake people up to vote after they realize the costs of heating their homes this winter.
Diesel and heating oil are the same grade.
Central Atlantic heating oil price per gallon.
10/3 - $4.882
10/10 - $5.466
10/17 - $5.842
https://www.eia.gov/dnav/pet/pet_pri_wfr_a_EPD2F_PRS_dpgal_w.htm
It’s going to be an expensive winter.
There’s just a 25 day supply of diesel fuel in the United States...lowest level since 2008.
US diesel prices have doubled in a year and that directly impacts the cost of goods sold.
Stop whining. Invest in US Oil and Nat Gas companies from your home in RuZZia.
“It’s going to be an expensive winter.”
Not disagreeing with you.
But things are a bit different here in Texas.
My biggest utility expense?
Water bills in the summer.
Then electricity bills in the summer.
Then nat gas bills in the winter.
Summer water/electricity will exceed $1000 per month.
Winter nat gas? Normally $200ish. Might be $300ish this winter.
But those water bills...
Little story. Austin took over my local water company. MUD or something it was called. We had a drought a few years ago. Austin asked everyone to conserve water. People did. So then Austin installed a “drought fee” onto our water bills because city got less revenue because we conserved water! Shoot me.
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