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Page added on May 13, 2019

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Europe Bailed Out by Cheap LNG

Consumption

In the Netherlands, once Europe’s largest natural gas supplier, one of the big questions is how to deal with declining production and increasing reliance on imports.

For hundreds of energy traders, utility executives and analysts gathering in Amsterdam this week for the Flame Conference, the Netherlands epitomizes the European energy security situation. Whether through pipelines from Russia or northern Africa or by ship from Qatar or the U.S., more and more imported gas will be needed to feed the region’s power plants, companies and homes.

Increasing Gas Gap

The Netherlands turns into a net importer of natural gas as its output falls

Source: Rystad Energy

“The Netherlands is set to become a definitive net importer of natural gas,” said Carlos Torres, vice president of gas and renewables markets at Rystad Energy, a Norwegian energy research company. Across Europe, nations are “now taking advantage of low LNG prices.”

The source of gas is a politically charged issue, with Russia supplying around 40% of the European Union’s fuel and building a controversial new pipeline directly into the region. The U.S. says that dependency is dangerous and is urging the EU to build more terminals to ship in gas from its shale boom to bolster the bloc’s efforts at diversification.

LNG is playing a bigger role in Europe after new production plants caused global supply to outstrip demand, with the surplus boosting imports into the region’s liquid markets to record levels. The Gate LNG terminal in Rotterdam has seen renewed interest and could hit full capacity by the end of the year after years of being underused, Torres said.

European LNG imports more than doubled in the first quarter despite a warmer-than-usual winter, demonstrating a “genuine underlying demand,” according to Alastair Maxwell, chief financial officer of LNG tanker owner GasLog Ltd. While buyers took advantage of the lower prices to bring in more cargoes, declines in the region’s production were also behind the increases, he said.

Shut Down

The Groningen field, once Europe’s largest, is being phased out and will be closed completely by 2030 as the Dutch government seeks to limit earthquakes provoked by gas exploration. Its production is forecast to fall to less than half the nation’s requirements in the year through October, and will be just a third of peak output in 2013, according to BloombergNEF.

That output decline comes as the European Union needs more gas to compensate for the retirement of coal and nuclear plants. The International Energy Agency estimates the 28-nation bloc will have to seek additional imports equal to one-third of anticipated consumption by 2025.

More Supply

Europe to need additional gas supply as domestic production contracts

Source: IEA, 2019

Mild Winter

The flood of LNG to Europe has put further pressure on natural gas prices already weakened by reduced demand and mild weather. In the U.K., temperatures topped 20 degrees Celsius (68 degrees Fahrenheit) for the first time during the winter, meaning less need for the fuel for heating.

Europe Getting Warmer

Temperatures have risen around 1.4 degrees celsius since pre-industrial times

Source: HadCRUT4: Climatic Research Unit and Met Office Hadley Center; NCEI: NOAA National Climatic Data Center; GISS: NASA Goddard Institute for Space Studies

The benchmark next-month gas contract in the Netherlands, also Europe’s biggest traded market, has fallen 37% this year. Storage levels in Europe are also well above their five-year average, damping appetite for fuel to inject this summer.

Dutch front-month drops amid LNG glut and mild winter

“Europe has the flexibility now to import LNG at a good price, but we expect that in 2022 prices will start to rise as demand in Asia is set to resume growth,” said Torres. “As Europe is increasing its import dependence, that could result in higher electricity prices in the region.”

Bloomberg



14 Comments on "Europe Bailed Out by Cheap LNG"

  1. Cloggie on Mon, 13th May 2019 3:43 pm 

    “ The U.S. says that dependency is dangerous and is urging the EU to build more terminals to ship in gas from its shale boom to bolster the bloc’s efforts at diversification.”

    Russia has been a reliable supplier since the seventies.

    The real danger for Europe lies in US adventurism in the Gulf, seriously threatening European fuel imports.

    Supply from a shale boom is illusionary, as the US is a net importer of fuel.

    Regarding Nord Stream: mind your own business.

  2. makati1 on Mon, 13th May 2019 6:34 pm 

    “Yes, we get about 2% of our total oil demand and 4% of our imports supplied by Russia”

    “Russia has around 110 billion barrels of proven oil, basically what it had 20 years ago. In contrast, U.S. proven reserves have increased 66% over that time to 50 billion barrels. (Prove it, America! The land of lies.)

    In addition, although the country has not yet needed to exploit it, there is unlimited potential in Russia for shale oil and gas production.”

    https://www.forbes.com/sites/judeclemente/2019/04/18/does-the-u-s-import-oil-from-russia/#42b2cde8254e

    Isn’t that interesting! Imagine the US buying oil and oil products from its ‘enemy’ Russia! And those numbers tell you why the US wants to plunder Russia. OIL! Just like Venezuela, Syria, etc. OIL!

  3. Cloggie on Tue, 14th May 2019 1:55 am 

    The true face of America latest. Americans love to whine how much these “lazy Europeans” are “living on America’s purse”, who are burdened with defending Europeans against evil enemy’s (like who again?).

    The truth is that Europe since the brutal Anglo-Soviet assault, aka WW2, is a US colony and nothing else and the US wants to keep it that way.

    French president Macron has announced that the EU needs an army of its own and now the Europeans have initiated a European defense fund of many billions, aimed at developing an independent European weapons industry.

    https://www.spiegel.de/politik/ausland/usa-attackieren-eu-plaene-fuer-verteidigungsfonds-a-1267291.html

    But that’s a no-no for our “protector” (Mafia style). The US doesn’t want the Europeans to cooperate independently in matters of defense and instead keep them dependent on the US. The US doesn’t want an EU MIC, that can operate independently of the US MIC.

    The letter from the Pentagon is formulated in harsh tones, including threats of punishment.

    /shrug

    The US is overplaying its hands on all fronts. It wants to dominate the entire world, but can’t.

    220 million US whites + 110 million US non-whites, lead by the nose by 8 million or so US Jews, seriously think they can bully around 500 million Europeans, 200 million Slaws, 1350 million Chinese, 140 million Japanese and 1500 million Muslims.

    #Timber!

  4. Davy on Tue, 14th May 2019 6:05 am 

    “The true face of America latest. Americans love to whine how much these “lazy Europeans” are “living on America’s purse”, who are burdened with defending Europeans against evil enemy’s (like who again?). The truth is that Europe since the brutal Anglo-Soviet assault, aka WW2, is a US colony and nothing else and the US wants to keep it that way.”
    Liar, cloggo, Europe has had a remarkable post WW2 growth period. Many wonderful things were accomplished and it was very much because of the Americans. Near the end of the USSR is when the problems began because the US should have used its strong position to initiate a multipolar world instead of the post USSR hegemony attempt. It is the US action post the USSR collapse that is truly a global tragedy. So much good could have been achieved. As for the brutal Anglo-Soviet assault that followed the even more brutal Natzi assault. This WW2 period was the fault of all sides but it was crazy Hitler that grabbed the horse by the balls and plunged Europe into its latest dark age. The liar cloggo calls the Natzis victims. LMFAO. What a joke. The world was a US colony for a time post USSR collapse. The US hegemony ended the day the US rolled into Iraq and the resurgence of China economically and Putin politically/militarily. The world is now a multipolar world with two superpowers and 3 centers of power with Russia straddling the fence with a military that is superpower. Cloggo’s PBM is a joke as well as his history revisions that his PBM is based on. His fake world will continue to crumble because his Euro populism is not what he thinks it is either. It is much more moderate and without a common denominator that is so often the case in the multinational EU. Whine on that cloggo.

    “French president Macron has announced that the EU needs an army of its own and now the Europeans have initiated a European defense fund of many billions, aimed at developing an independent European weapons industry.”
    Macron is a dog that just got his nuts cut. How many times have we heard about the great Eurotard Army? WTF are the Eurotards going to do with this great army anyway? They have a good defensive force already through NATO. What is so hilarious is the cloggo fantasizes about a grande armee of the republique that will reconquer the world especially the US. He fantasizes about millions of casualties of past glorious wars the Eurotards inflected on each other. What a sick loser.

    “But that’s a no-no for our “protector” (Mafia style). The US doesn’t want the Europeans to cooperate independently in matters of defense and instead keep them dependent on the US. The US doesn’t want an EU MIC, that can operate independently of the US MIC.”
    The US wants conflicting things cloggo. The neocons and neoliberals want subservience but many want less involvement in a place that should be taking care of their own affairs. The US spends far too much on the NATO Theater. NATO is a MIC cash cow for all nations involved. Europe needs to take more responsibility for its own defense but I doubt an EU Army will achieve that. It will be political not the military that is the real defense and the problem these days is EU is balkanizing economically and politically. Defense can be done with existing arrangements. NATO should be greatly reduced but not eliminated. NATO works both ways because it also keeps a leash on the Americans by the Euros.

    “The US is overplaying its hands on all fronts. It wants to dominate the entire world, but can’t.”
    I have to agree with that. Trumps BP foreign policy these days is disgusting. Trump has failed with Bolton and Pompeo. Maybe he had no choice, you know the deep state and their conditions.

    “220 million US whites + 110 million US non-whites, lead by the nose by 8 million or so US Jews, seriously think they can bully around 500 million Europeans, 200 million Slaws, 1350 million Chinese, 140 million Japanese and 1500 million Muslims.”
    Spare me the bullshit cloggo. I am surprised you didn’t link your kindergarten map with your childlike geography math.

    “#Timber!”
    In your wet dreams

  5. Aubrey McClendon on Tue, 14th May 2019 6:55 pm 

    I like Cloggie

  6. Kenz on Tue, 14th May 2019 7:10 pm 

    Why worry about importing supplies of LNG when you can produce wind and solar energy right at home.

    Wind and solar can make Europe energy independent from unreliable and high priced suppliers.

    It is time to move away from fossil fuels and embrace safer, cleaner and cheaper renewable energy sources.

  7. Davy on Tue, 14th May 2019 7:16 pm 

    “I like Cloggie”

    So I take it you like white racist Nazti’s too

  8. Davy on Tue, 14th May 2019 7:17 pm 

    “Kenz”

    OH great the Bot is back

  9. Aubrey McClendon on Tue, 14th May 2019 7:52 pm 

    Unless someone stole Cloggie’s username & I’m reading an imposter, her post are like on point now days…

    She tells it like is… Whether you like it or not…

  10. Anonymouse on Wed, 15th May 2019 1:32 am 

    You could have taken a page from KenZparrot there prickface, and taken a long hiatus yourself. But, no, you see yourself as the indispensable exceptionalturd, so you stuck around like goat-shit on a blanket.

    Now we get to listen to KenZretard and his two interchangeable hydrogen carz is da future \ everyone in 3rd world are too stupid to stop having children tropes non-stop. Over and over again, like a broken fooking record. Oh well, at least he doesn’t put up bloviating 5000 turd-salads like someone we know.

    Joy…..

  11. Cloggie on Wed, 15th May 2019 2:25 am 

    Europe has had a remarkable post WW2 growth period. Many wonderful things were accomplished and it was very much because of the Americans.

    That’s ridiculous, we are the mother civilization, we don’t need you for anything in matters of science, technology or economy:

    https://documents1940.wordpress.com/2017/09/26/origin-scientific-accomplishments/

    The increase of wealth everywhere in the West after WW2 was the result of the oil economy and would have happened regardless of the outcome of WW2.

    As for the brutal Anglo-Soviet assault that followed the even more brutal Natzi assault.

    Which “brutal Natzi assault”? Poland began to ethnically cleanse Versailles Poland from Germans, already 100,000 refugees were in Germany before September 1. What should the Germans have done? Wait until millions of Germans were cleansed (quietly encouraged by the Americans who wanted nothing but war, so they could colonize Europe)?

    This is what Roosevelt had said in private 6 months before the war:

    https://documents1940.wordpress.com/2017/09/26/roosevelt-6-feb-1939-rhine-river-us-frontier/

    This WW2 period was the fault of all sides but it was crazy Hitler that grabbed the horse by the balls and plunged Europe into its latest dark age.

    BS. All Germany wanted was their stupid Danzig back and a road to Eastern Prussia, that was it. But the Poles wanted war, because they felt encouraged by the Anglo-French war guarantee and the Americans, who secretly encouraged the Poles to bully the Germans out of Poland (so America got its desired war).

    Russia knows the full truth and will unleash it against the Anglos on a for them opportune moment, namely when PBM will be founded and we are going to liberate white America from the youknowhwo:

    https://www.telegraph.co.uk/news/worldnews/europe/russia/5445161/Russia-accuses-Poland-of-starting-Second-World-War.html

    The Germans didn’t bomb Americans cities. The Germans didn’t rape American women.
    That’s what Americans and Soviets did to Germany, you stinking piece of filth.
    But the Americans and Soviets brought a dark age over Europe, for no other reasons than to set up their empires, as plotted for since 1933.

    Their is no difference between US behavior in Iraq, Syria, Ukraine, Vietnam, Chile, Libya, etc., etc. and WW2.

    Massmurder and desire for world conquest on orders of the self-chosen. And your kind are the great enablers of that behavior.

    But now the game is over. Your society is ruined after mass third world immigration. Eurasia is ready to deal you the blow and kick you from planetary pole position. Enjoy your demise.

  12. Davy on Wed, 15th May 2019 4:46 am 

    “Europe has had a remarkable post WW2 growth period. Many wonderful things were accomplished and it was very much because of the Americans.” “That’s ridiculous, we are the mother civilization, we don’t need you for anything in matters of science, technology or economy:”
    Sure it was cloggo, it was Pax Americana and the industrial might of a WW2 victor that had is economy made strong by war. Europe was in ashes. WTF, do you think it was osmosis?

    “The increase of wealth everywhere in the West after WW2 was the result of the oil economy and would have happened regardless of the outcome of WW2.”
    No shit, that took a lot of grey matter cloggo.

    “Which “brutal Natzi assault”? Poland began to ethnically cleanse Versailles Poland from Germans, already 100,000 refugees were in Germany before September 1.”
    STFU stupid and read history. You don’t think Germany took over Europe with whips do you. They brutally took over Europe with military and SS killing squads

    “What should the Germans have done? Wait until millions of Germans were cleansed (quietly encouraged by the Americans who wanted nothing but war, so they could colonize Europe)?”
    Please, more of your fantasy

    “This is what Roosevelt had said in private 6 months before the war”
    Fraudster, say what he said and quit your WordPress subterfuge, LIAR

    “BS. All Germany wanted was their stupid Danzig back and a road to Eastern Prussia, that was it.”
    Liar, Hitler wanted lebensraum and you know where that went. It went off into Russia. Once Hitler had some quick victories he was intoxicated by war and ready for all of Europe.

    “But the Poles wanted war”
    OH sure cloggo, little Poland between two superpowers wanted war.

    “Russia knows the full truth and will unleash it against the Anglos on a for them opportune moment, namely when PBM will be founded and we are going to liberate white America from the youknowhwo:”
    Cloggo, fantasy and reality are two different conditions. People like you are so absorbed in their agenda they lose touch with reality. They can’t reality test. You preach a PBM daily as it is happening but it is not at all a reality. It is some obscure talk but not reality.

    “The Germans didn’t bomb Americans cities. The Germans didn’t rape American women.”
    Germans would have and BTW the Germans raped women all over Europe especially Russians. They would have rapped Americans too given the chance

    “you stinking piece of filth.”
    OOoo, now the cloggo is really upset.

    “But the Americans and Soviets brought a dark age over Europe, for no other reasons than to set up their empires, as plotted for since 1933.”
    I agree with the Soviet part not the American part. Hitler brought this on himself and the German people. Quit your whining and get a backbone and take your punishment. I can’t help it you got your ass kicked twice.

    “Their is no difference between US behavior in Iraq, Syria, Ukraine, Vietnam, Chile, Libya, etc., etc. and WW2.”
    Quit jumping around, you mind can’t stay focused when you are upset.

    “Massmurder and desire for world conquest on orders of the self-chosen. And your kind are the great enablers of that behavior.”
    Spare me the drama, you sound just like makato and his baby killers

    “But now the game is over. Your society is ruined after mass third world immigration. Eurasia is ready to deal you the blow and kick you from planetary pole position. Enjoy your demise.”
    Sure thangy cloggo, you are again drifting into your fantasy world of white racism and a phony PBM Eurasia.

  13. Cloggie on Wed, 15th May 2019 3:32 pm 

    Sure it was cloggo, it was Pax Americana and the industrial might of a WW2 victor that had is economy made strong by war. Europe was in ashes.

    Indeed, thanks to you and your Soviet palls. We’ll never forget that. America is the only serious enemy Europe has now that the USSR is dead. But the tide is turning. China wants a “people’s war”, because they sense they can kick you at least from the South China Sea and take back Taiwan, for starters.

    STFU stupid and read history. You don’t think Germany took over Europe with whips do you. They brutally took over Europe with military and SS killing squads

    Oh jeez, empire dave and history, what could possibly go wrong. There we go again. NONE of the German invasions were prompted by the desire for territorial conquest, NONE.

    – 1939-Poland: 100,000 Germans refugees had fled to Germany because of Polish harassment of Germans living in Versailles Poland and they would have cleansed entire Poland, had the Germans not intervened.

    – 1940-Norway. It was Churchill, not Germany, who had brought the war to Scandinavia. He wanted to cut of iron ore supply to Germany, an act of war (to fresh up memory, it were the British and French who had declared war on Germany, not the other way around). British, French and German troops arrived in Norway AT THE SAME DAY.

    – May, 1940-Holland, Belgium, France. Germans invaded Holland at 3:00 am, the French 12 hours later. But they had to move through Belgium. The Germans say them coming and didn’t want to wait until they crossed the Dutch-German border and occupy the Germans industrial heartland. Holland was NOT neutral as this document proves, showing that the French high command had commitment from the Dutch government that the latter would provide fuel to the advancing French troops through Holland:

    https://gerard1945.files.wordpress.com/2015/10/07b.jpg

    – When the French were defeated and the British kicked back on their island, Hitler offered a peace with no strings attached: everybody withdrawing. Churchill refused as he was paid by the Jews to hold on until the the US had found the proper occasion to jois the war (would be the entirely provoked Pearl Harbor).

    – April 1941, Hitler is forced to invade the Balkans and Greece, because this fool Mussolini had attacked Greece, without consulting his “ally” Hitler, who was furious, as this move gave the British the opportunity to “come to the aid of the Greeks” (not) and use Thessaloniki as a launchpad against the only petrol station the Germans had: Ploesti, Romania.

    – June 1941, Hitler attacks the USSR, not because he wants “Lebensraum” (the official lie), but because the USSR is on the verge to invade Europe and Germany decides to deal the first blow by surprise. The details here:

    https://www.amazon.com/Chief-Culprit-Stalins-Grand-Design-ebook/dp/B00BKRWZIM/ref=sr_1_1

    That’s the true story of WW2.

    Now the Eurasians have the task to kick the ZOG occupier out of Eurasia. My hands are itching.

    OH sure cloggo, little Poland between two superpowers wanted war.

    Useful idiot was lead to believe that they had the backing of the US, British empire and France. That gave them a big mouth and hybris. They were fooled, nobody gave a f* about Poland and after the war was cynically handed over to the loving care of Stalin.

    I can’t help it you got your ass kicked twice.

    We can and will help it that your mass-murdering presence finally will disappear from the face of the earth. And Americans will initiate the the dismemberment.

    https://www.youtube.com/watch?v=8KYifYzjKlc

    It happened to the USSR, it will happen to you. Your society is based on counter-natural principles. Both economic and racial marxism don’t work, as you will soon find out.

  14. Davy on Wed, 15th May 2019 5:52 pm 

    “We’ll never forget that. America is the only serious enemy Europe has now that the USSR is dead.”
    There is a very tiny minority that hates the US like you do. Most do not like American foreign policy as many Americans don’t. Europeans tend to like Americans as people when they are not loud and obnoctious as some are. You are so friggin full of shit cloggo your eyes are brown.

    “But the tide is turning. China wants a “people’s war”, because they sense they can kick you at least from the South China Sea and take back Taiwan, for starters.”
    China does not want a war besides a peoples war is part of the trade war not your belligerent fantasy for mass casualties. NATZI WAR PIG

    “Oh jeez, empire dave and history, what could possibly go wrong. There we go again. NONE of the German invasions were prompted by the desire for territorial conquest, NONE.”
    ABSOLUTE RUBISH

    “– When the French were defeated and the British kicked back on their island, Hitler offered a peace with no strings attached: everybody withdrawing.”
    Hitler did not know peace he was a megalomaniac, stupid.

    “– June 1941, Hitler attacks the USSR, not because he wants “Lebensraum” (the official lie), but because the USSR is on the verge to invade Europe and Germany decides to deal the first blow by surprise.”
    Hitler, took a huge gamble in Russia cloggo, he wanted lebensraum. He knew the dangers of Russia and decided to attack instead of a balanced defensive arrangement with the Russians. Hitler was an aggressor not a victim.

    “That’s the true story of WW2.”
    In your warped mind cloggo. True to you is true to your story not the truth

    “Now the Eurasians have the task to kick the ZOG occupier out of Eurasia. My hands are itching.”
    Like you know how to fight you fat ass key board pusher.

    “It happened to the USSR, it will happen to you.”
    Anytime someone says “will” about the future you know they are likely emotional and full of shit. Cloggo is full of shit.

    “Your society is based on counter-natural principles. Both economic and racial Marxism don’t work, as you will soon find out.”
    Your continent is the place that hatch communism and socialism and it is there it has its biggest presence. You just ignore that. Europe initiated a multi-cult world through colonialism. You own it sucker. Your populism is just now kicking in way too late plus it is not a majority and likely never will be. You are fucked cloggo!

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