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THE Natural Gas Thread Pt. 2

General discussions of the systemic, societal and civilisational effects of depletion.

Re: THE Natural Gas Thread Pt. 2

Unread postby JuanP » Tue 11 May 2021, 00:00:55

"Mediterranean pipe dream founders on global gas glut"
https://asiatimes.com/2021/03/mediterra ... -gas-glut/

"In the Eastern Mediterranean, falling prices and shrinking demand threaten to upend the region’s most ambitious-ever natural gas sector project.

The US$7 billion East Med Gas Pipeline (EMGP) – lauded by politicians from Tel Aviv to Athens and Nicosia to Cairo – was designed to send gas from Cypriot, Israeli and Egyptian offshore fields to Europe via a 1,900-kilometer link to Greece.

Yet, “I just don’t see how it’s ever going to happen,” Dr. Charles Elinas, senior fellow at the Atlantic Council and a regional energy expert, told Asia Times. “Simply put, there’s just too much gas in the world.”"

Glut, glut, glut! Little wonder coal production has suffered, probably temporary, setbacks for years.
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Re: THE Natural Gas Thread Pt. 2

Unread postby dissident » Wed 12 May 2021, 09:21:39

Those excuses are BS the price tag is chump change. If Russian natural gas is such an existential threat to the EU, then this pipeline would have been built regardless of any typical variation of natural gas prices. After all, we had the Nabucco project that was supposed to send gas from the Caspian Sea basin (primarily Turkmenistan) to the EU and bypassing the ebil Rosshians. That flopped because Turkmenistan didn't have the expected reserves and over-allocated its exports to China. This eastern Med pipeline looks to be flopping for the same reason. Lots of hype over gas reserves that are nothing to write home about.
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Re: THE Natural Gas Thread Pt. 2

Unread postby Ayoob » Sat 26 Jun 2021, 17:57:15

On a more personal note, I'm getting ready to install a vehicle CNG pump at my house, and install CNG fuel tanks in my vehicles. I'm hoping to get it all done by the end of the summer. The pump is $4K and allows me to pump nat gas into the compression tanks at the rate of about a gallon an hour. Overnight my ten gallon tank would fill up completely, and my wife's vehicle can fill up during the day.

The calculators tell me I'm looking at a 4.5 year break even vs 3.75 gasoline, I think that's about right. The convenience of fuelling up at home every night is also nice. The cars will still have full gas tanks but I'll probably fill them up with no-ethanol 91 octane race gas so even if it sits for a couple months there's nothing to clog up the fuel system.

Nat gas will probably be around longer than liquid gasoline, or will be viable longer, however you want to look at it. Apartment renters are going to be kind of fucked though, it will be tough to find a way to fuel them up.
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Re: THE Natural Gas Thread Pt. 2

Unread postby Tanada » Sun 27 Jun 2021, 11:08:30

Ayoob wrote:On a more personal note, I'm getting ready to install a vehicle CNG pump at my house, and install CNG fuel tanks in my vehicles. I'm hoping to get it all done by the end of the summer. The pump is $4K and allows me to pump nat gas into the compression tanks at the rate of about a gallon an hour. Overnight my ten gallon tank would fill up completely, and my wife's vehicle can fill up during the day.

The calculators tell me I'm looking at a 4.5 year break even vs 3.75 gasoline, I think that's about right. The convenience of fuelling up at home every night is also nice. The cars will still have full gas tanks but I'll probably fill them up with no-ethanol 91 octane race gas so even if it sits for a couple months there's nothing to clog up the fuel system.

Nat gas will probably be around longer than liquid gasoline, or will be viable longer, however you want to look at it. Apartment renters are going to be kind of fucked though, it will be tough to find a way to fuel them up.


If you install a decent size outside home tank and just use the pump to keep it topped up you could fill each vehicle in a few minutes at need.
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Re: THE Natural Gas Thread Pt. 2

Unread postby ROCKMAN » Mon 28 Jun 2021, 13:24:35

Tricky job predicting NG availability and prices. Becoming much more a global market place then just our domestic consumption:

In 2019, the United States exported natural gas to about 38 countries. In 2019, total annual U.S. natural gas exports were 4.66 Tcf—the highest on record, and the United States was a net exporter of natural gas for the third year in a row. Jul 21, 2020

Need to keep an eye on Canada: In 2019, about 98% of U.S. total annual natural gas imports were from Canada and nearly all by pipelines.

Checkout the very troubled history of the Cheniere Energy Sabine Pass terminal. These are the supposed experts and their projections have been very erroneous over time.
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Re: THE Natural Gas Thread Pt. 2

Unread postby JuanP » Mon 16 Aug 2021, 22:42:15

"U.S. Natural Gas Dominance May Be Coming To An End"
By Robert Rapier
https://oilprice.com/Energy/Natural-Gas ... n-End.html

"This is the fourth article in a series on BP’s recently-released Statistical Review of World Energy 2021. Previous articles provided an overview of this year’s Review, an examination of the data on carbon emissions, and a look at oil supply and demand trends.

Today I delve into the data on natural gas production and consumption."

"The U.S. may continue to lead the world in natural gas production for a few more years, but the level of proved natural gas reserves implies that our lead could be short-lived.

The Middle East’s proved natural gas reserves at the end of 2017 were 2.8 quadrillion cubic feet, versus U.S. proved reserves of 446 trillion cubic feet. For perspective, U.S. proved reserves are only 6.7% of the global total.

Russia has more proved natural gas reserves than any other country with 1.3 quadrillion cubic feet, followed by Iran with 1.1 quadrillion cubic feet. Total proved natural gas reserves at the end of 2020 were enough to satisfy 2020 global production rates for 48.8 years."

The article contains links to the other articles mentioned.
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Re: THE Natural Gas Thread Pt. 2

Unread postby AgentR11 » Fri 10 Sep 2021, 16:45:11

Nordstream 2 is complete. Now we get to wait and see if it is actually used, and what impact it'll have on LNG aspirations of the US.
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Re: THE Natural Gas Thread Pt. 2

Unread postby dissident » Fri 17 Sep 2021, 10:06:44

So the stellar intellects in Bruxelles who thought they could blackmail Russia with the export limitations on Gazprom owned and built pipelines "daring" to enter their paranoid utopia are now reaping what they sowed. EU natural gas prices on the spot market are now over $800 per thousand cubic meters. Meanwhile Germany is getting contracted gas from Gazprom for $220 per tcm. The EU propaganda chorus media tries to paint this as all a big conspiracy by Russia to drive up the prices. No you retard fecks, it is all your own fault since you limit Gazprom's exports over its own pipelines by 50% under the phony pretext of deregulation. Who are these other natural gas suppliers who are going to use Gazprom's pipelines? This is not AT&T and Bell Canada telephone infrastructure deregulation. There are no other suppliers.

Bruxelles thought that forcing a spot market trade for extremely limited supply natural gas would drive the prices lower. They assumed that LNG would be oversupplied but these retards forgot that LNG chases the far east market and the prices there have been over $1000 per tcm. Maybe this is all part of Putin's big conspiracy to drive up EU prices by making prices high in far east. This is the tinfoil hat level of analysis that passes for western policy setting these days.
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Re: THE Natural Gas Thread Pt. 2

Unread postby dissident » Fri 17 Sep 2021, 10:13:16

AgentR11 wrote:Nordstream 2 is complete. Now we get to wait and see if it is actually used, and what impact it'll have on LNG aspirations of the US.


The German bureaucracy dancing in tune with Bruxelles is delaying the certification. Also NS2 has been limited to 50% capacity even though Germany promised to delay this by 20 years. Considering that it was Merkel who lobbied for the additional Baltic pipeline from Russia, Germany is still engaged in retarded posturing. Gazprom met its obligations but it is up to Bruxelles and Deutschland how much gas comes down the pipe. Gazprom is currently satisfying all of its delivery contracts. Looks like EU-rope is not interested in more. But EU-rope is not the only market for Russian natural gas and the delivery capacity to those markets is soon going to dwarf the EU one.

I hope these losers keep cooking with $800 and higher spot prices. They are currently tapping their reserves and hoping the coming winter is warm. If the prices stay high into 2022, which is quite possible since the fundamentals will not change, then reality will catch up to them.
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Re: THE Natural Gas Thread Pt. 2

Unread postby Outcast_Searcher » Fri 17 Sep 2021, 11:27:48

Ayoob wrote:On a more personal note, I'm getting ready to install a vehicle CNG pump at my house, and install CNG fuel tanks in my vehicles. I'm hoping to get it all done by the end of the summer. The pump is $4K and allows me to pump nat gas into the compression tanks at the rate of about a gallon an hour. Overnight my ten gallon tank would fill up completely, and my wife's vehicle can fill up during the day.

The calculators tell me I'm looking at a 4.5 year break even vs 3.75 gasoline, I think that's about right. The convenience of fuelling up at home every night is also nice. The cars will still have full gas tanks but I'll probably fill them up with no-ethanol 91 octane race gas so even if it sits for a couple months there's nothing to clog up the fuel system.

Nat gas will probably be around longer than liquid gasoline, or will be viable longer, however you want to look at it. Apartment renters are going to be kind of fucked though, it will be tough to find a way to fuel them up.

Interesting thoughts.

First, re keeping 91 octane no ethanol race gas, I suspect that will be rather expensive.

Another approach which should be cheaper and viable, would be to use a fuel stabilizer. Based on my experience with finicky lawn mowers and cars that mostly sit --

During the worst of the pandemic (thus far anyway), I was hardly driving at ALL, and was concerned about fuel deterioration. But even when I just had, say, a half of a tank of normal 87 octane Shell brand gas with ethanol, my '17 Camry showed NO issues with starting or running at all after several months, with the ethanol in the gas tank sucking up whatever moisture might get to it. This was with me driving literally 100 miles a month at most, buying food on occasion.

And that was WITHOUT any fuel stabilizer. I think you could use normal gas, cheap fuel stabilizer, just drive a little on occasion to stir things around and run gas through the system a bit, and you'd be good. I'm no expert -- that's based on my experience with gas and fuel stabilizers and mowers and cars.

Second, if the issue is primarily economic, it's far easier and likely more financially rewarding to just put money in high quality relevant stocks, collect the dividends, and if oil and natural gas get expensive, your stocks will generally be quite profitable.

CVX (Chevron) seems relatively cheap to me, for example, given that WTI is solidly above $70, and it pays a nice dividend.

You could even use options to improve the return. On a $96.5ish stock that pays nearly a 5.5% dividend, and the ability to sell, say, two month out of the money calls or puts for 3 or 4 percent of the price of the stock, that's a way to make some nice income over time for the patient investor. (Obviously, selling call options reduces your protection if fuel prices spike -- people pay you the premiums for a reason. OTOH, you can bank any expiring premium, and roll options a little in the money at expiration over to more expensive and/or higher priced calls. Same idea with puts if the prices go down.) Just never overdo it with any one stock, as oil is a very volatile beast over time.

Third, if the concern is that fuel might get scarce (and/or very expensive), then some form of EV seems an obvious choice. An HEV instead of a pure ICE with the Toyota hybrid system will give a LOT of the bang for the buck if gas is $4 or especially $5, over the life of a quality car. And with the fantastic HEV system warranty, at least on all new Toyota HEV's in the US, the risk is minimal.

Pure EV's or PHEV's are generally expensive for new ones, but supposedly they're going to get much cheaper in the next 3 to 5 years. We shall see, of course, but if there is a $10K or so federal tax credit, that certainly won't hurt. And then you can conveniently charge at home and have NO worries re fuel for the EV at all. The expensive batteries and battery life are clearly the risk there, though in most places you save substantially on fuel, especially if fuel prices spike. I'm not buying the idea that, for example, Tesla batteries will last DECADES until that is firmly proven in the real world, and it's documented how that happens (like charging and driving habits required).

Despite all the moaning about doom going around, it's great for consumers to have a LOT of viable choices -- if they're just willing to do some thinking and planning and saving so they have resources to utilize their choices well.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: THE Natural Gas Thread Pt. 2

Unread postby dissident » Mon 20 Sep 2021, 12:41:46

So as of September 2021, Gazprom has supplied 5 billion cubic meters more natural gas to the EU compared to 2020. At the same time the US has supplied 17 billion cubic meters (in LNG form, uncompressed) less than 2020.

Let that sink in. The haters in the EU are basically crapping their pants spewing at Russia while ignoring all the rosy promises from their owner across the Atlantic Ocean. EU morons actually thought that spot priced LNG was going to be cheaper than Gazprom's contract piped gas but now are in total denial as this "molecules of freedom" LNG is chasing the far east market.

I thought the west understood capitalism. Clearly not.
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Re: THE Natural Gas Thread Pt. 2

Unread postby ROCKMAN » Wed 22 Sep 2021, 14:48:05

From the EIA:

U.S. exports of liquefied natural gas (LNG) continued to grow in the first six months of 2021, averaging 9.6 billion cubic feet per day (Bcf/d). This average marks an increase of 42%, or 2.8 Bcf/d, compared with the same period in 2020 (according to the U.S. Department of Energy’s LNG Monthly reports and our estimates for June 2021, based on shipping data from Bloomberg Finance L.P.). During the summer months of 2020, U.S. LNG exports fell to record lows, but they set consecutive record highs in November and December.

U.S. LNG exports increased in the first half of this year as international natural gas and LNG spot prices increased in Asia and Europe due to cold weather. Rising global LNG demand once COVID-19 restrictions began to ease, as well as continuous unplanned outages at LNG export facilities in several countries (including Australia, Malaysia, Nigeria, Algeria, Norway, and Trinidad and Tobago), also contributed to increased U.S. LNG exports.

In Asia, colder-than-normal winter temperatures led to increased demand for spot LNG imports. Natural gas demand in the spring continued to rise amid low post-winter inventories, which contributed to unseasonably high natural gas prices. The high prices prompted a higher demand for more flexible LNG supplies, particularly from the United States.

In Europe, natural gas storage inventories were also low following a cold winter. Increasingly hot temperatures in May and June and greater natural gas demand from the electric power sector contributed to high natural gas spot prices. Europe’s natural gas spot prices have historically been lower than prices in Asia; however, this year, Europe’s natural gas prices are tracking Asia's spot LNG prices more closely to attract flexible LNG supplies from around the world to refill storage inventories.

The U.S. Henry Hub natural gas benchmark and U.S. LNG spot market prices have been lower than prices for international natural gas and spot LNG this year. This price difference has supported record volumes of U.S. LNG exports. U.S. LNG exports also increased because of new export capacity added in 2020. The final liquefaction units were commissioned at Freeport, Cameron, and Corpus Christi LNG, and the remaining small-scale units were placed in service at Elba Island LNG. The new units increased total U.S. LNG export capacity by a combined 2.7 Bcf/d for a total peak capacity of 10.8 Bcf/d.

Similar to 2020, Asia remained the top destination for U.S. LNG exports from January through May in 2021, accounting for 46% of the total. Asia was followed by Europe, which had a five-month average share of 37%. Exports to Latin America also increased, particularly to Brazil, which is experiencing its worst drought in more than 90 years.

In June, U.S. LNG exports declined slightly, mainly as a result of maintenance on several pipelines that deliver natural gas to U.S. LNG export facilities. Yet, we expect LNG exports to remain at high levels in the remaining months of this year in our Short-Term Energy Outlook.
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Re: THE Natural Gas Thread Pt. 2

Unread postby dissident » Mon 18 Oct 2021, 15:19:39

https://www.rt.com/russia/537759-berlin ... om-moscow/

The co-leader of Germany’s Green Party, a figure likely to have a key role in Berlin’s next cabinet, has called for the incoming government to immediately begin negotiations with Russia to fix the country’s worsening gas crisis.


Recall that the German Green Party was frothing at the mouth calling Russian natural gas "dirty" for a long time. It actively tried to sabotage the Nord Stream pipeline along with the rest of the clowns in EU-rope who have Russia derangement syndrome. Now these snakes are squirming.

For some context that you will never get in the fake stream western media: the gas fields that supplied gas to Europe via Ukraine for the last 50 years are basically spent. The major field development that allows Russia to export natural gas is in the Arctic. So Russia has to build new pipelines to deliver this gas from where it is extracted. Now why should Russia build pipelines to link the new supply to the rotting pipelines dating back 50 years that go through Ukraine? Ukraine has spent next to nothing on maintaining the Soviet gas pipeline infrastructure. It is much more decrepit then the part in Russia. The Nord Stream pipelines are predicated on rational economics. They have a length 2,000 km shorter than some politically motivated pipeline (new plus refurbished) link via Ukraine.

And EU-tards demand that Russia stop Arctic natural gas and oil extraction. Yeah, because the EU owns Russia. A collection of sanctimonious clowns with only two countries (Norway and Denmark) with Arctic shorelines which are vastly smaller than the span of Russia's Arctic coast. And don't chirp about CO2 emissions. Arctic warming has nothing to do with local CO2 emissions. It is a geometric effect because heat flux from lower latitudes (achieved via baroclinic eddy transport) is converging into a smaller area than the middle latitude band where it originates. Albedo reduction is not specific to local fossil fuel extractions sources. Global warming remains global warming and the EU is not in any hurry to shut its oil and gas industry down. That EU gas and oil extraction are falling is because of field depletion and not because of Greta Thunberg.
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Re: THE Natural Gas Thread Pt. 2

Unread postby Subjectivist » Wed 20 Oct 2021, 17:34:50

dissident wrote:https://www.rt.com/russia/537759-berlin-gas-supply-from-moscow/

The co-leader of Germany’s Green Party, a figure likely to have a key role in Berlin’s next cabinet, has called for the incoming government to immediately begin negotiations with Russia to fix the country’s worsening gas crisis.


Recall that the German Green Party was frothing at the mouth calling Russian natural gas "dirty" for a long time. It actively tried to sabotage the Nord Stream pipeline along with the rest of the clowns in EU-rope who have Russia derangement syndrome. Now these snakes are squirming.

For some context that you will never get in the fake stream western media: the gas fields that supplied gas to Europe via Ukraine for the last 50 years are basically spent. The major field development that allows Russia to export natural gas is in the Arctic. So Russia has to build new pipelines to deliver this gas from where it is extracted. Now why should Russia build pipelines to link the new supply to the rotting pipelines dating back 50 years that go through Ukraine? Ukraine has spent next to nothing on maintaining the Soviet gas pipeline infrastructure. It is much more decrepit then the part in Russia. The Nord Stream pipelines are predicated on rational economics. They have a length 2,000 km shorter than some politically motivated pipeline (new plus refurbished) link via Ukraine.

And EU-tards demand that Russia stop Arctic natural gas and oil extraction. Yeah, because the EU owns Russia. A collection of sanctimonious clowns with only two countries (Norway and Denmark) with Arctic shorelines which are vastly smaller than the span of Russia's Arctic coast. And don't chirp about CO2 emissions. Arctic warming has nothing to do with local CO2 emissions. It is a geometric effect because heat flux from lower latitudes (achieved via baroclinic eddy transport) is converging into a smaller area than the middle latitude band where it originates. Albedo reduction is not specific to local fossil fuel extractions sources. Global warming remains global warming and the EU is not in any hurry to shut its oil and gas industry down. That EU gas and oil extraction are falling is because of field depletion and not because of Greta Thunberg.


Can anyone explain to me why the EU adopted the attitude that Ukraine great/Russia evil when it comes to all conflicts? Putin is no hero, but the people running Ukraine are literally those who pulled off a coup de tet against the elected government.
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Re: THE Natural Gas Thread Pt. 2

Unread postby dissident » Thu 21 Oct 2021, 11:36:28

Some facts that are systematically omited from the fake stream media coverage of the gas crisis in U-rope:

1) Closure of many nuclear power plants, from Germany to the Baltics to Bulgaria. Hysterical greeny weeny paranoiacs forced U-rope to burn more fossil fuels from this alone. These retards "thought" that alt-green sparkle dazzle energy would fill in the gap faster than the speed of light. Germany still has 27% of its electrical energy coming from coal while Greta Thunberging Russia which has 13% coal in its electrical generation mix for justifiable reasons. Elsewhere in U-rope coal power plants have been shut down because solar and wind are the "future".

2) LNG control of the spot price. The only reason that natural gas fell to $40 per thousand cubic meters on the spot market was because of LNG oversupply in 2020. Covid played the role of demand reducer, but the market reflects supply and demand. The US has not been delivering on its ludicrous promises of displacing Gazprom in U-rope. As of October, it has supplied over 10 billion cubic meters less than in 2020. Qatar has not offset the difference. LNG tankers have been chasing high LNG prices in the far east for all of 2021 since the LNG price in the far east already hit $1000 per tcm early in 2021. Right now the far east is outbidding U-rope.

3) That the spot price in U-rope moves up and down on Putin's statements is simple sheep flocking irrelevance. The fake stream media paints the picture of some valve in the Kremlin which Putin can turn up and down to screw over precious snowflake victim U-ropeans. What brain dead drivel. Gazprom delivers based on contracts. It chooses not to play the spot market casino because it knows that some futures speculators can drive the price down to uneconomically low levels if the supply is sufficient and predictable. This is what they did when the LNG was in over supply. The EU then organized a contract ripping operation where a lot of countries threw out the oil price linked formula and substituted it with a spot price linked formula since they assumed they would be getting ultra cheap gas forever. Now they are not happy that this formula is costing them five times more than the old formula. So they do not want to pay Gazprom. Nobody forced them to go this route and anyone faulting Gazprom for wanting the old conservative contracts is full of shit. Natural gas is not like oil. It requires expensive pipeline and storage infrastructure even it is repacked into LNG at some stage. LNG tankers are not a viable storage medium since they have to burn the gas to keep it condensed. Oil tankers are a viable storage medium and you see them being used for this purpose.

But who cares about the "details". Mickey Mouse caricatures are what most sheeple feed from.
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Re: THE Natural Gas Thread Pt. 2

Unread postby Pops » Fri 31 Dec 2021, 12:18:51

Luckily the US has exposed ourselves to the global gas market.

One big reason for surging fertilizer prices is surging prices of coal and natural gas. The urea in your urine is produced in the liver. The industrial kind is made through a century-old process that uses natural gas or gas derived from coal to produce ammonia, which is then used to synthesize urea.

China and Russia, two of the biggest producers, have restricted exports to ensure supplies for their own farmers. In China’s case, an energy crunch led some areas to ration electricity, which forced fertilizer factories to slash production.
https://www.nytimes.com/2021/12/06/busi ... rices.html


But it's not just for fertilizer any more:

Freight trucks worldwide are starting to be sidelined by a urea shortage. A wide-ranging variety of factors, from rising fertilizer and natural gas prices to an export prohibition, have strained the world’s supply of urea.

Urea is the primary component of the diesel exhaust fluid [DEF] necessary in ensuring that diesel combustion engines function within nitrogen oxide emissions standards across the developed world. A urea-water solution is injected into the exhaust stream of diesel vehicles before the gasses pass through a catalytic converter.

https://jalopnik.com/global-urea-shorta ... 1848201479


There is a DEF chip on diesels that shut the engine down when DEF runs out.

Oh, about that chip:
Ongoing shortages of replacement parts for failed diesel exhaust fluid quality sensors are believed to be causing thousands of trucks nationwide to be disabled and parked.

The sensors, which measure the quality and level of diesel exhaust fluid (DEF) in the tank, normally retail for roughly $300. But due to global computer chip shortages causing a backlog the part is being offered for sale — in some cases on digital retail sites such as eBay — for as much as $7,000, according to some industry technicians.

“It’s part of the global chip shortage,” Paul Enos, CEO of the Nevada Trucking Association, told Transport Topics. “We’re seeing trucks parked throughout the country. Just here in Nevada, 300 trucks are parked waiting for quality level sensors.”

Enos said there is a fail-safe that’s built into the selective catalytic reduction system of 2010 and newer trucks. “If it senses too much [nitrogen oxide] it will derate the engine,” he said.
https://mtac.us/def-sensor-failures-sid ... of-trucks/


EPA is aware of how the global shortage of Diesel Exhaust Fluid (DEF) sensors is impacting vehicle owners, and we are working diligently with manufacturers to support them in providing solutions.
https://www.epa.gov/recalls/diesel-exha ... ge-updates
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Re: THE Natural Gas Thread Pt. 2

Unread postby Doly » Fri 31 Dec 2021, 15:35:02

Ongoing shortages of replacement parts for failed diesel exhaust fluid quality sensors are believed to be causing thousands of trucks nationwide to be disabled and parked.


I work in electronics, and this is exactly the sort of shortage that worries me the most. Most people aren't aware of this, but sensors are often specialised equipment that is made just in one place in the world. And there are lots of different specialised sensors. Everybody is aware of places like TSMC and the chips they make are something that if you are in the electronics business, you are keeping an eye on. But nobody, as far as I know, is keeping an eye on the zillion sensors out there. People only keep an eye on the sensors they use, not others. And in many cases, a piece of equipment without a working sensor is useless.
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Re: THE Natural Gas Thread Pt. 2

Unread postby JuanP » Fri 04 Feb 2022, 10:17:48

"Russia and China sign major energy deal"
https://www.rt.com/business/548304-russ ... ergy-deal/

"The 30-year agreement will boost gas supplies by 10 billion cubic meters and will be settled in euros"

First, they built the Power of Siberia pipeline, now they are building the Power of Siberia II, and coming next to the real world far away from me and you:
"In January, Gazprom completed an analysis of the project to build the Soyuz Vostok gas pipeline through Mongolia to China, which will make it possible to supply up to 50 billion cubic meters of gas per year to China.

Analysts say Moscow’s ‘gas pivot’ to China poses a challenge for Europe, which has been struggling with skyrocketing energy prices in recent months. Russia remains Europe’s main gas supplier, but the changes it is currently making to its energy transport infrastructure should be taken seriously, analysts note.

Europe’s 541 bcm of annual gas consumption is more than China’s 331 bcm, but the latter is expected to rise to 526 bcm by 2030 as Beijing reduces its dependence on coal. Consulting firm McKinsey estimates that China’s demand for gas will double by 2035. Its annual gas consumption is expected to reach 620 bcm by 2040 and overtake oil as the leading fuel source by 2050, according to data made public in September by Chinese energy giant Sinopec."

I think it is very smart on the part of the Chinese to be securing these decades long contracts. Meanwhile, Europe, which had the first comer advantage where Russian gas supplies were concerned, is doing the opposite, letting long term contracts for Russian natural gas supplies expire, and buying gas for 10 times the price on the spot market.
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Re: THE Natural Gas Thread Pt. 2

Unread postby dissident » Fri 04 Feb 2022, 10:45:06

Where is all the brave talk about US LNG displacing Russian pipeline gas? Why are they bitching about Russia supplying China with gas?

Clowns.
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