Posted on 09/06/2022 11:27:00 AM PDT by BeauBo
Russia said Tuesday that it would not resume natural gas flow to the European Union until sanctions are lifted, all but acknowledging that it is intentionally inflicting an energy crisis on Europe as a means of countering Western economic punishment for its invasion of Ukraine...
“It is important to recall that there is not just one gas pipeline from Russia to Europe,” European Commission energy spokesman Tim McPhie said Monday.
“If there was a technical problem which was impeding supplies via Nord Stream 1, there would be a possibility, if there was willingness, to deliver gas to Europe through other pipelines," he said. "That’s something we’re not seeing happening.”...
Gazprom announced it has “indefinitely” cut gas deliveries via Nord Stream 1, citing “equipment issues” at one of its compressor stations. That announcement came hours after the G-7 said Friday that it would implement a planned price cap on Russian oil exports beginning Dec. 5.
(Excerpt) Read more at msn.com ...
“what Russia sells to the EU is fungible.”
Oil yes, gas, not so much. The pipeline gas to Europe can’t be physically moved to a liquification facility, to be exported via ship. There is not much slack capacity at Russia’s LNG export terminals in the Arctic or Sakhalin anyway.
The overwhelming majority of what gas Europe can no longer sell to Europe, simply can not be sold. They are currently flaring it off, but will likely have to cap wells over time, as maintenance costs become unsustainable without the supporting revenue.
Last year, Natural gas accounted for about 1/4 of Russia’s GDP las year (that includes their domestic consumption, as well as the 10-15% of exports that went to non-European customers, mainly Japan and China). 85% of gas exports went to Europe (including Turkey) last year. The Turkstream pipeline continues to operate, but the rest are shutting down, or already off.
Even if the war ends tomorrow, European customers are not going to return to the same level of dependency on Russian supplies as before, as a matter of national security policy. Maybe 10% for price competition, but not 40% or 50% like before the war.
The business that was built over a half century will be significantly scrapped this year.
How come they are selling to the same nations through intermediaries?
America is just as stupid. They too laughed at Trump and are still not taking him seriously.
I know all that stuff my family has been in the O&G business since the 50’s. Flaring is the cheapest way of maintaining the wells. They are giving up production at the end of the life of the wells to prevent damage that could destroy them now.
The Ukrainian Army is about to take Kharkiv. Stay tuned.
I don’t understand why this isn’t obvious to everyone, for good or bad the sanctions the EU put on Russia why would they not respond, basically saying, you sanction, we cut off our gas until the sanctions are lifted, it will be interesting to see who blinks first
the people will not freeze
the people will warm themselves by the bonfire
Russia being put on notice.
U.S. Military Announces Test Launch Of ICBM, Notifies Russia
Radio Free Europe
Radio Liberty
September 06, 2022
https://www.rferl.org/a/us-icbm-missile-test-russia/32021455.html
“The U.S. military will test launch an intercontinental ballistic missile (ICBM) on September 7, the Pentagon says, adding that Russia has been notified.”
>> The Europeans eventually will find alternative sources of fossil fuels<<
Can you explain what they are? Greta and Al Gore want to know.
In even the most basic marketplace, there are at two entities, the seller and the buyer. If there’s no seller, or nothing to buy, the buyer goes home with nothing. Conversely, if the seller is at a market with no buyers, then he can can sell nothing.
They both NEED each other.
The best buyer for the Russians were the Europeans. The largest pipelines go from the Russian gas fields to the European businesses and homes. The pipelines to East and South Asia are minuscule compared to the European trade.
Doubling the amount of gas to Asia only meets 20% of what the Russians used to sell or sold to Europe.
Russia needs to convert the gas to money, and Europeans need the gas.
It really hurts both sides.
the country with the natural resources wins...
..unless you invade
key is longer term
winter is coming
so It’s gonna be all good and well for the US citizens to pay for more for shit too as we start exporting more and more gas to Europe?
Personally i think a couple really cold dark winters would do Europe some good
certainly a lot of germans in the last half of the 19th century
used to be the largest immigrant group until the hispanics passed them
germany gave us Dwight D Eisenhower to kick nazi ass
thank you germany
“It (Russia) doesn’t need Europe’s money. It is collecting a record amount of record amount of oil revenue.”
Russian oil revenue has already peaked from the wartime price surge. Prices are down over 25% from there.
Oil is is the last leg remaining under Russia’s economy and Government budget, now that the gas leg is broken.
There have been no secondary sanctions on other buyers of Russian oil yet, but that is what is coming on December 5th.
Doom’s Day.
Would you rather he used nuclear weapons?
>>Oh look...Europe is about to be starved of energy this winter, and possibly just starved period.<<
The US will never allow Europe to be starved. A new Marshall Plan will be in the making. But this time Europe may not be able to pay it back because of a permanently damaged economy.
Disallow the use of fossil fuels and become a fossil.
Depend on windmills and become wind.
Birds of a feather flock together.
U.S. says Russia buying North Korea shells and rockets for Ukraine war
https://www.rferl.org/a/us-icbm-missile-test-russia/32021455.html
“The Europeans eventually will find alternative sources of fossil fuels”
“Can you explain what they are?”
“of” fossil fuels, not instead of them.
The big winners taking away Russia’s former market share are Norway, the USA, Qatar, Algeria, the Netherlands and Azerbaijan. Egypt/Israel get honorable mention.
yes if europe was the only buyer
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