Energy news in general

michaels

QrizB said:

michaels said:

Anyone know what the contract sizes are so we can compare TTF at E239, NBP at 458p and Henry Hub at $9.07? Thanks

I could be completely wrong but I think NBP is priced in therms (29.3kWh), TTF in MWh and Henry in millions of BTU (293kWh, 10 therms).

So about 80p in the US for the same gas that costs £4.60 in the UK?

savers_united

michaels said:

savers_united said:

GingerTim said:

Liz Truss has 'ruled out' energy rationing under her prime ministership. Good to know that she has the power (no pun intended) to bend energy supply and demand to her iron will.

I think what Britain has got when needed is deep pockets, if LNG deliveries are being bidded for then I am sure the country will find the money to keep them docking. 

More than Japan, China, France and Germany?

Looks like the market does not agree with you, the pound is sharply down against the dollar and euro over the last few days.  Basically we can offer as many of our shiny £1 cons as we can mint to those who are shipping gas but that doesn't mean they will just accept them and give us gas when they are also being offered Euros and Yen.

China will be buying more Russian gas, France is a low Gas user and Germany have been taking LNG deliveries from the UK over the summer as we do not have the storage capacity, the idea being that if European countries with large storage facilties can be filled that will ease the global price which seems to be happening. So I just don't see the demand and need to pay high prices from some of the countries you mention, the UK will be willing to pay as our storage is capacity is low. 

michaels

savers_united said:

michaels said:

savers_united said:

GingerTim said:

Liz Truss has 'ruled out' energy rationing under her prime ministership. Good to know that she has the power (no pun intended) to bend energy supply and demand to her iron will.

I think what Britain has got when needed is deep pockets, if LNG deliveries are being bidded for then I am sure the country will find the money to keep them docking. 

More than Japan, China, France and Germany?

Looks like the market does not agree with you, the pound is sharply down against the dollar and euro over the last few days.  Basically we can offer as many of our shiny £1 cons as we can mint to those who are shipping gas but that doesn't mean they will just accept them and give us gas when they are also being offered Euros and Yen.

China will be buying more Russian gas, France is a low Gas user and Germany have been taking LNG deliveries from the UK over the summer as we do not have the storage capacity, the idea being that if European countries with large storage facilties can be filled that will ease the global price which seems to be happening. So I just don't see the demand and need to pay high prices from some of the countries you mention, the UK will be willing to pay as our storage is capacity is low. 

We are not buying from those countries, we are competing with them for available supply, we may have deep pockets but their pockets are deeper, especially as people don't seem to want to hold our pounds very much anymore.

pochase

Last winter LNG deliveries for the UK were rerouted to China because they were paying more. 

savers_united

pochase said:

Last winter LNG deliveries for the UK were rerouted to China because they were paying more. 

That was last year because their stocks were low on the back of Covid recovery, colder winter, this year they will also have access to cheaper Russian gas so don't really see why China would want to be paying top prices for LNG. 

norsefox

savers_united said:

pochase said:

Last winter LNG deliveries for the UK were rerouted to China because they were paying more. 

That was last year because their stocks were low on the back of Covid recovery, colder winter, this year they will also have access to cheaper Russian gas so don't really see why China would want to be paying top prices for LNG. 

China's demand is fairly low.  Lockdowns and a stuttering economy has reduced demand.  Russia selling gas to China may ironically help Europe, as China can then sell its gas to Europe.

Europe may be getting outwith the Russian shadow, and straight into the sphere of China.  At least that's what the FT reported earlier this week.

pochase

And the daily update



The average cost over the next 12 month is down to £4522.

uksitebuilder

Are those prices Inc VAT?

pochase

Yes they are.

bristolleedsfan

https://twitter.com/JavierBlas/status/1565739141349916672

BREAKING: Gazprom claims it detected an oil leak during "maintenance" at Nord Stream 1, and therefore the gas pipeline is going to remain closed until repairs are made (no timeline provided for any re-start) 

https://twitter.com/DAlperovitch/status/1565738236185550849

"Gazprom says NS1 gas pipeline is NOT coming back due to discovered oil leaks"