Posted on 10/14/2022 8:20:49 AM PDT by dennisw
The country’s storage caverns, which equate to roughly three months of demand, are now nearly bursting. Capacity utilization runs just shy of the 95% target well before the government's self-imposed Nov. 1 deadline.
“It now looks as though the bloc will get through the coming winter with enough supplies—but only just—buoyed up by the gas reserves it raced to accumulate over the summer,” said Deutsche Bank in a report on Tuesday.
European benchmark prices for natural gas have already come down substantially to just €160 per megawatt-hour on Thursday after peaking at around €350 per MWh in late August, when the continent was busy squirreling away as much of the critical raw material as possible.
Together with other European Union member states’ conservation efforts, the bloc appears to be as resilient as it can be for the colder months lying ahead.
Overall storage levels for the European single market have already surpassed the EU’s November target of 80%, according to official data.
Moscow turned off the taps to Germany, forcing a mad scramble to weatherproof itself for colder temperatures ahead.
While its policy mistake has helped disrupt supply and demand curves across the world, driving up prices since July, the good news is its hoarding may have peaked.
This should help alleviate some of the pressure on global prices that caused a sharp spike over the summer, when Europe was willing to outbid the rest of the world to acquire supplies.
“The United States has delivered us three times as much LNG this year as the volumes in the previous year,” said EU Commissioner Kadri Simson on Wednesday following a meeting of energy ministers.
Europe’s demand has soaked up supplies of liquefied natural gas (LNG) from Algeria to Azerbaijan and everywhere in between.
(Excerpt) Read more at news.yahoo.com ...
Who knows. Europe could have a warmer than usual winter, which will help the overall situation.
Germany Denies Global Warming, Buys enough fossil fuels to destroy planet in one season
Natural Gas Prices In Europe Fall To A Three-Month Low
By Tsvetana Paraskova - Oct 10, 2022, 6:34 AM CDT
On Monday, Europe’s natural gas prices fell to the lowest level in three months thanks to mild weather and a high level of LNG imports.
Natural gas prices were down nearly 8% in early trading in Amsterdam, hitting an intra-day low of $140 per megawatt-hour.
Gas storage in the EU is now at more than 90% and the bloc has managed to reduce its gas consumption by 10%
LOL!
You should be a headline writer!
bttt
Is the German storage system based on LNG?
Liberal projection...always blame the other guy for what your doing.
The real ‘good news’ is that protesting in Germany, France, in many parts of the EU continue to grow week by week....and its not Winter yet.
Limited storage ability can’t keep proces low. The result will be lower prices now as less gas is purchased for storage, but higher prices later as less gas is released from storage to keep future prices lower.
Literally upset that Russia may not be able to blackmail Europe after all?
There have always been communists protesting in favor of Russia / Soviets.
Why are you here?
I’m projecting colder than usual, cuz our summer was a lot cooler this year.
Definitely not here to be an uninformed pro-Ukrainian neo-Nazi sympathizer and supporter like you.
At least two neo-Nazi groups are fighting for Russian forces in Ukraine, throwing into question Moscow’s claims of “denazifying” its neighbor, German weekly Der Spiegel reported Sunday, citing a confidential intelligence report.
“Germany Denies Global Warming, Buys enough fossil fuels to destroy planet in one season”
You need to use that for a title and write it up for the Babylon Bee.
https://www.rferl.org/a/russian-neo-nazis-fighting-ukraine/31871760.html
The video, published in December 2020, showed two nattily dressed Russian men — waistcoats, pocket squares, silk ties – sipping American whiskey in brandy snifters and discussing killing Ukrainians.
“I’m a Nazi. I’m a Nazi,” said one of the men, Aleksei Milchakov, who was the main focus of the video published on a Russian nationalist YouTube channel. “I’m not going to go deep and say, I’m a nationalist, a patriot, an imperialist, and so forth. I’ll say it outright: I’m a Nazi.”
“You have to understand that when you kill a person, you feel the excitement of the hunt. If you’ve never been hunting, you should try it. It’s interesting,” he said.
Yeah Dennis.... this a a good thing - blowing up society over the Uke s**thole.
This trash piece is the quintessential pissing down other’s backs and telling them it’s raining.
“Oh look - we fuxed energy markets all to hell - but you should like it.”
Oh, and you’re nothi but a sniveling fraud, from now on.
Maybe they can just "put some ice on it." Clown.
And then something happened to the gas storage facility........
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.