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EUROPE GAS-Prices fall on weak demand, mild weather, steady LNG arrivals
Yahoo/Reuters ^ | 18 October 2022

Posted on 10/18/2022 10:52:13 AM PDT by Hamiltonian

LONDON, Oct 18 (Reuters) - Dutch and British wholesale gas fell on Tuesday as low demand due to warmer-than-usual weather and ample supply due to the steady arrival of liquefied natural gas (LNG) tankers put pressure on prices.

The benchmark front-month Dutch contract dropped for the fifth consecutive trading day and was down 13.50 euros at 116.50 euros per megawatt hour (MWh) by 0858 GMT, the lowest level since mid-June.

The British day-ahead contract fell by 23.00 pence to 35.00 pence per therm

"Weak demand and comfortable supply continue to exert strong downward pressure. New weather forecasts pointing to warmer temperatures provide additional downward pressure," said analysts at Engie EnergyScan.....

The steady arrival of ships carrying LNG to Europe has also eased concerns about shortage of supply as Russia has progressively cut gas flows.

However, there are more than 35 LNG-laden vessels drifting off Spain and around the Mediterranean, and ports remain busy for unloading.

"The drop (of Russian supplies to Europe) has now nearly been completely absorbed by the market, which is a promising omen for Europe at the start of the winter," analysts at Marex Research said...............

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: agitprop; commies; europegasmarket; frglobalists; globalistpimps; howdoyoufellowfrkids; lng; methane; neoconnedbots; panicporn; schwabsshilling; seminarposters
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To: BushCountry

Yes, we got our first hard frost here is Wisconsin last night. But I’m sick with a head cold so the flowers can just wilt away; too cold to deal with it while under the weather...


21 posted on 10/18/2022 11:50:34 AM PDT by gloryblaze
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To: Hamiltonian

I don’t recognize him, either.


22 posted on 10/18/2022 11:53:52 AM PDT by gloryblaze
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To: Hamiltonian

Germany is also talking about ending their fracking ban

Europe is finally waking up to the new reality and getting serious


23 posted on 10/18/2022 11:54:13 AM PDT by canuck_conservative
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To: kiryandil

Temporary old boy.
We are in the middle of an adjustment, which is working. Hence decreasing prices.

There is no excuse to be tied to the Russian tit. It is insane.


24 posted on 10/18/2022 11:57:32 AM PDT by buwaya (Strategic imperatives )
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To: WMarshal
When it reaches near parity with US prices.

When was that?

25 posted on 10/18/2022 11:58:06 AM PDT by Hamiltonian
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To: kiryandil
And was on infrequently for 15+ years before that.
26 posted on 10/18/2022 12:00:22 PM PDT by Hamiltonian
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To: Hamiltonian
"When was that?"

Don't you mean "When will that happen?" It will never happen with total dependence on LNG shipments from America. LNG requires far more infrastructure investment and costs when does pipeline natural gas.

27 posted on 10/18/2022 12:01:45 PM PDT by WMarshal (Neocons and leftards are the same species of vicious rat.)
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To: buwaya; kiryandil

Sorry crocodile, relying on LNG from America is too expensive for Europe to be an industrial power.


28 posted on 10/18/2022 12:03:24 PM PDT by WMarshal (Neocons and leftards are the same species of vicious rat.)
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To: WMarshal

Mercedes Benz has a plant in Alabama. They’ll just expand it if there are sales to be had and producing in Germany is too expensive.


29 posted on 10/18/2022 12:04:21 PM PDT by FLT-bird
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To: gloryblaze

Its from Game of Thrones. The motto of his house is

Winter is Coming


30 posted on 10/18/2022 12:05:51 PM PDT by FLT-bird
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To: WMarshal

but America doesn’t play delivery games or arbitrarily change the contract terms (e.g. forcing euros to rubles) like Russia does

maybe Europe is just tired of Russia’s constant games & unreliability?


31 posted on 10/18/2022 12:06:39 PM PDT by canuck_conservative
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To: buwaya; gloryblaze; kiryandil; WMarshal; canuck_conservative
Here's a little about the Good Guys in this scenario:

The United States became the world’s largest LNG exporter in the first half of 2022

The United States became the world’s largest liquefied natural gas (LNG) exporter during the first half of 2022.....

32 posted on 10/18/2022 12:07:04 PM PDT by Hamiltonian
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To: FLT-bird
"Mercedes Benz has a plant in Alabama. They’ll just expand it if there are sales to be had and producing in Germany is too expensive."

Exactly, deindustrialization of Germany.

33 posted on 10/18/2022 12:08:09 PM PDT by WMarshal (Neocons and leftards are the same species of vicious rat.)
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To: WMarshal
Hasn't happened previously, in fact the spread between European and Henry Hub prices was going in the wrong direction well before Feb 22. And the European economy is still there.

.

34 posted on 10/18/2022 12:11:20 PM PDT by Hamiltonian
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To: WMarshal

There is a whole world of gas out there, and plenty of sources, lots of which can be piped. There will be a proper glut, I predict, by sometime next year.

Spain uses LNG, thats why its expanding its terminals and pipeline connections to France. Spain is not on the Russian tit. And so on.

This will blow over. Nordstream and all that was a truly stupid episode, getting tied to a monopoly source. And such a source.


35 posted on 10/18/2022 12:14:41 PM PDT by buwaya (Strategic imperatives )
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To: gloryblaze
That would make sense. I was wondering about However, there are more than 35 LNG-laden vessels drifting off Spain and around the Mediterranean, and ports remain busy for unloading.
36 posted on 10/18/2022 1:05:11 PM PDT by ding_dong_daddy_from_dumas (Re-imagine the media!)
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To: WMarshal

Lucky for now—but its not November yet. The end of the year will make for a poor Christmas and a bloody one as all the “Newcomers” begin to suffer and take it out on the “greedy Europeans” in their cities. Why buy gas when its so easy to jack a car?


37 posted on 10/18/2022 1:58:39 PM PDT by Forward the Light Brigade ( Ride to the sound of the Guns!)
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To: Hamiltonian
The United States became the world’s largest liquefied natural gas (LNG) exporter during the first half of 2022.....

While my personal COG [Cost of Gas] nearly tripled.

I'm America First.

You're America Last, out of hibernation.

The EuroPeeings can clean up their own mess, thank you very much.

38 posted on 10/18/2022 2:10:54 PM PDT by kiryandil (China Joe and Paycheck Hunter - the Chink in America's defenses)
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To: WMarshal; Hamiltonian; canuck_conservative
LNG requires far more infrastructure investment and costs when does pipeline natural gas.

Especially now, with infrastructure become Fair Game...     

As for those quacking about "arbitrarily changed the contract terms", I would say that deploying sanctions to seize any Euros "paid" for natural gas supply [in effect stealing the natgas] is "arbitrarily changing the contract terms".

I'll type reeeaaaallll slow, so that the Canadian readers can understand that particular point.

39 posted on 10/18/2022 2:18:43 PM PDT by kiryandil (China Joe and Paycheck Hunter - the Chink in America's defenses)
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To: kiryandil

Russia isn’t a reliable supplier

it is what it is

btw even if this war ended tomorrow, Europe isn’t going back to funding their enemy ... that’s idiotic

Russia will have its European revenues *permanently* reduced from now on ... get used to it


40 posted on 10/18/2022 2:24:08 PM PDT by canuck_conservative
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