Europe Could Turn To More Coal If Gas Crunch Persists

Oil price ^ | Sep 16, 2021 | Tsvetana Paraskova -

[george76]

Despite its ambitious green energy targets, Europe could be forced to burn more coal this winter if natural gas stockpiles are not adequately replenished amid record-high gas prices, an expert on the EU energy market told Russian news agency TASS on Thursday.

Gas prices continue to be pushed up by the risk of insufficient gas storage ahead of the winter heating season, EU energy expert Simonas Vileikis told TASS.

“If inventories are not refilled now and winter turns out cold enough, EU countries may be forced to fire up power plants burning fuels other than gas, including coal, to generate enough electricity,” Vileikis said.

...

Gas prices in Europe have shot up in recent weeks, with the European benchmark, the Dutch Title Transfer Facility (TTF) hub, surging by 250 percent since the beginning of the year, as per Reuters estimates. Gas prices in major economies, including Germany and France, have also spiked, leading to record electricity prices.

The whole of Europe, including the UK, is grappling with soaring natural gas and electricity prices ahead of the winter heating season due to tight gas supplies, very low gas inventories across the continent, and low wind power generation amid still weather.

...

The rally in natural gas prices is also driving global demand for coal. Goldman Sachs this week nearly doubled its price projection for coal prices in Asia, expecting the benchmark Newcastle thermal coal to average $190 a ton in the fourth quarter, up from a previous forecast of $100 per ton, due to sky-high gas prices ahead of the winter heating season.

[mikey_hates_everything]

[Obadiah]

It is simply staggering to watch people who claim to be experts and elites be so utterly devoid of common sense. These people are absolutely blind to their religion of global warming and leftism. I pity all those who will undoubtedly suffer down the road as a result of their humanistic arrogance.

[FatherofFive]

We are still in a Minimum, so I expect a cold winter

Let them freeze in the dark

[ClearCase_guy]

[Tell It Right]

Natural gas is currently selling on the commodities market about 125% what it was at this time last year.

I wonder if all them Euro greenies are glad our Resident Xiden has been blocking some drilling in the U.S. and lowering the supply of natural gas. I'm sure Putin is glad.

[Bonemaker]

Germany will have to invade Poland again to get the coal.

[allendale]

If Sweeden, Germany and France froze in the dark, would you care?

[fruser1]

They’ve got plenty of lignite, even dirtier.

[baclava]

Cant they just hook up diesel generators to the windmills to make them spin fsster for more power?

Oh wait...

[SaxxonWoods]

They will turn to coal and it won’t be long.

[nuke_road_warrior]

After the Fukushima reactor accidents, Angela Merkel, in a fit of righteous indignation, decreed that Germany would shutdown ALL nuclear plants as well as ordering German industries to stop working on nuclear plants inside and outside Germany, contract obligation be damned. She assured her people that Germany would makeup the loss with solar and wind power. When that didn't work out so well, Germany fired-up old brown coal burning plants, spewing tons of pollution into the air.

[george76]

The UK fired up an old coal power plant to meet its electricity needs.