The energy thread

[Jimbuna]

Originally Posted by Skybird

Except in Russia.

[mapuc]

Originally Posted by Skybird

Except in Russia.

An off topic comment

If it goes as some of you have mentioned in our Ukraine thread..then we will have an atomic winter.

End of an off topic comment

Markus

[Jimbuna]

Received the new energy tariff figures from my current energy supplier based on my consumption last year and what the increase means to my household.

[Jimbuna]

Business energy prices to be cut by half expected levels

Energy bills for UK businesses will be cut by around half their predicted level this winter under a huge government support package.

The scheme will fix gas and electricity prices for companies for six months from 1 October, in a bid to stop firms facing soaring costs from going bust.

Hospitals, schools and charities will also get help, the government said.

It comes after ministers announced a £150bn plan to help households with their soaring bills for two years.

Industry groups welcomed the package but warned further support may be needed after the winter.

It is understood the scheme will be reviewed after three months with an option to extend support for "vulnerable businesses" - but it is not known what sectors come under the category.

Wholesale prices are expected to be fixed for all non-domestic energy customers at £211 per MWh for electricity and £75 per MWh for gas.

Companies do not need to contact suppliers as the discount will automatically be applied to bills, with savings seen from October but received from November.
https://www.bbc.co.uk/news/business-62969427

[Jimbuna]

Germany nationalises gas giant amid energy crisis

Germany is to nationalise gas giant Uniper in an effort to secure energy supplies amid the war in Ukraine.

The deal will see the German government take on a 98.5% stake in the firm at a cost of €8.5bn (£7.4bn).

Germany is Europe's biggest importer of Russian gas, and has been particularly squeezed as Russia has reduced supplies in recent months.

Chief executive Klaus-Dieter Maubach said the deal would help Uniper's role as "a system-critical energy supplier".

Before Russia invaded Ukraine it supplied Europe with about 40% of its natural gas, and it has responded to Western sanctions by gradually cutting off supplies.

At the start of this month, Russia halted supplies through the Nord Stream 1 pipeline, claiming repairs were needed - but later said flow would not resume until sanctions were lifted.

Uniper, which operates gas, coal, and hydro plants across Europe and is currently controlled by Finnish state-owned energy company Fortum, is the biggest buyer of Russian gas in Germany.

In recent months it has had to replace Russian supplies with alternatives from the open market, where prices have soared.
https://www.bbc.co.uk/news/world-europe-62980158

[Skybird]

DW (Deutsch):


Study: USA to become EU's most important LNG supplier

Companies and private households are groaning under high gas prices. It is not yet clear who will replace Russia as the largest gas producer in the long term. A new study looks to the future.

The most important source of supply for liquefied natural gas (LNG) in Germany and Europe will probably be the USA in the future. This is the result of a study by the Energy Economics Institute at the University of Cologne (EWI) on behalf of the industry association Zukunft Gas.

According to the study, natural gas from Russia will no longer be available in the near future, or only with restrictions, which is why the currently high gas prices are not expected to reach the 2018 level again until 2030 - but only if demand is significantly reduced.

In the study "Developments in global gas markets up to 2030," the authors describe how they see the realignment of gas supplies following Russia's attack on Ukraine and the resulting supply freezes up to the end of the decade.

Challenges due to focus on the USA

Imported natural gas from Russia still had a market share of around 55 percent in Germany in 2021. It was transported by pipeline. Meanwhile, the U.S. has the greatest potential for deliveries of liquefied natural gas (LNG) via tanker.

However, the strong focus on the U.S. poses new challenges: "Looking to the immediate future, Germany is called upon not to lose sight of the desired diversification of supply sources," demands Timm Kehler, CEO of Zukunft Gas, according to a press release. "Only in this way can the European gas supply become sustainable and secure. The realignment requires a long-term strategy that strengthens diversified LNG procurement."

In addition, the U.S. also expects long-term signals, Kehler said. "Only when our U.S. trading partners have a clear picture of future offtake prospects will they make the necessary investments to expand liquefaction capacity."

LNG demand to increase significantly

European demand for LNG will increase significantly, the study says. In the event that gas trade from Russia were to come to a permanent halt, the three remaining pipeline facilities from Norway, Azerbaijan and Algeria to the EU would be heavily utilized.

An increase in supply volumes from these countries would therefore only be possible to a limited extent. According to current estimates, Norway could still increase its production until 2028, after which production would decline. Imports from the North African exporting countries are expected to decrease because domestic demand there will increase in the course of the expected economic growth.

In all scenarios examined, U.S. imports increase significantly compared to 2021. If no gas is traded between Russia and the EU, they will reach a share of total EU imports of around 40 percent, according to the study. This would make the EU one of the most important sales markets for natural gas from the U.S. alongside Asia.

In contrast, the growth of volumes coming from Qatar would be limited. Additional imports from Australia or Canada would also probably not be significant for the European market, as these exporters will primarily serve the Asian market. However, the additional volumes could help prevent shortages on world markets. Lower demand would also have a price-dampening effect. This could be achieved, for example, through electrification, efficiency gains and the production of biomethane as a natural gas substitute.

Looking at the current price situation, Timm Kehler expects the situation to ease as early as 2024: "The rapid expansion of LNG terminals in Europe will eliminate import bottlenecks and align European and Asian prices."

[Jimbuna]

Labour leader Sir Keir Starmer had told the BBC's Laura Kuenssberg the UK needs to double onshore wind, triple solar and quadruple offshore wind to achieve the party's ambition of generating 100% renewable electricity.

He admitted there will be a transition from fossil fuels - and may still be there for a fall back come 2030.
https://www.bbc.co.uk/news/av/uk-politics-63025549

[Jimbuna]

Germany secures natural gas deal with the UAE as Berlin rushes to replace Russian supply before winter

Germany signed a natural gas deal with the United Arab Emirates on Sunday, as the European country scrambles to find alternatives to cut-off Russian energy imports before winter kicks in.

Under the deal, German utility giant RWE will get liquefied natural gas from the Abu Dhabi National Oil Co. delivered to its new floating gas terminal near Hamburg. The shipment of 137,000 cubic meters of LNG is expected to arrive by the end of December, RWE said.

Germany has been racing to secure energy imports from nations other than Russia as Moscow slashes its gas flows to the region in response to Western sanctions over the Ukraine war. The cutbacks in supply have sent European natural gas prices soaring more than 300% this year and have forced Germany to turn to alternative and cheaper sources of fuel, like coal.

"We need to make sure that the production of LNG in the world is advanced to the point where the high demand that exists can be met without having to resort to the production capacity that exists in Russia," German chancellor Olaf Scholz said on his weekend visit to the UAE, per Reuters.
https://www.msn.com/en-gb/money/mark...age=AA12ftNj|9

[Skybird]

Originally Posted by Jimbuna

The shipment of 137,000 cubic meters of LNG is expected to arrive by the end of December, RWE said.

Just to put that into relation - that delivery in December equals around 3% of what was pumped through Nordstream 1 per day.



The sAudis are friendly people. They did not have the hard heart to let Bubble Olaf leave with completely empty hands.

[Jimbuna]

Yeah, I was wondering what the comparison was but didn't think it would be that far off the mark.

[Catfish]

Originally Posted by Skybird

[...]
The Saudis are friendly people.

Umm, no. At least not their glorious leader.

They did not have the hard heart to let Bubble Olaf leave with completely empty hands.

This again is a good idea and it made me laugh for a short time, but my take is they placed a perfect "deal" of humiliation after Germany dared to criticize Kashoggi's killing; it is their way to make others feel inferior.
If those others are not too dumb to understand what was done to them.

[Skybird]

Note to myself: i need to intensify my skills in expressing verbal irony.

[Catfish]

Point taken

[Rockstar]

Baltic Pipeline ahead of schedule. Opening moved from January 2023 to November 2022

https://www.baltic-pipe.eu/energinet...ad-of-planned/

[Jimbuna]

Originally Posted by Rockstar

Baltic Pipeline ahead of schedule. Opening moved from January 2023 to November 2022

https://www.baltic-pipe.eu/energinet...ad-of-planned/

Possibly the next sabotage target?