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22.10.26 - 13:09
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EU Better Hope Global Warming Is Real As NatGas Withdrawals Begin With Dangerously Low Reserves (ZeroHedge)
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EU Better Hope Global Warming Is Real As NatGas Withdrawals Begin With Dangerously Low Reserves
European natural gas futures climbed for a second day as countries began drawing on stockpiles already at exceptionally low seasonal levels.
Brussels is now left hoping that Greta Thunberg's global warming narrative is real to ease pressure on the region's fragile energy balance. Even then, one or two severe cold snaps could accelerate inventory depletion, intensify competition for LNG cargoes and push the energy-stricken continent toward another winter crisis, particularly if disruptions around the Strait of Hormuz continue to constrain LNG supplies.
Gas Infrastructure Europe data showed that EU NatGas inventories declined for the first time this year.
Storage sites are about 74% full, well below the 15-year average for this time of year and, according to Bloomberg data, at the lowest seasonal level in records dating to 2009. Germany's gas storage sites are just 61% full.
Dutch front-month futur...
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21.10.26 - 03:12
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Bolivia′s Energy Crisis Deepens As Natural Gas Reserves Run Dry (ZeroHedge)
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Bolivia's Energy Crisis Deepens As Natural Gas Reserves Run Dry
Authored by Felicity Bradstock via OilPrice,
Bolivia's dwindling natural gas reserves and declining exports have undermined its economy and intensified fuel shortages.
Rising global energy prices and subsidy cuts have increased living costs and fueled widespread protests.
A $1.9 billion IMF rescue package and energy-sector reforms aim to stabilize the economy, but long-term recovery requires diversification.
Years of underinvestment in Bolivia's gas industry have left the South American country facing a severe fuel shortage, as energy prices rise ever higher owing to the ongoing war in Iran. The energy shortages and economic crisis follow years of poor decision-making by the government.
In 2006, then-president Evo Morales took control of Bolivia's fossil fuel industry, renegotiating contracts with international oil and gas companies and benefiting from the revenue. Much of the country's newfound wealth was invested in publi...
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21.10.26 - 01:27
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Japan′s Electricity Prices Surge 25% As LNG And Coal Costs Soar (ZeroHedge)
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Japan's Electricity Prices Surge 25% As LNG And Coal Costs Soar
Authored by Tsvetana Paraskova via OilPrice,
Japan's average power prices jumped by over 25% at the start of this week from the previous week amid soaring LNG and higher coal prices.
The nationwide power price rose by over 25% week-to-week to $0.19 (31.15 Japanese yen) per kilowatt-hour (kWh) on Monday, Bloomberg reported, citing data from Japan Electric Power Exchange.
Japan, one of the world's biggest LNG importers, this summer reduced gas-fired generation in favor of coal as the price of liquefied natural gas remained elevated.
Japan has been burning more coal and less gas for power generation since the war in the Middle East started, and it is not the only one. All Asian countries have made the switch from gas to coal on affordability and availability grounds.
Moreover, surging oil prices have led to a significant increase in Japan's import bill for oil and LNG.
LNG prices surged in Asia to a four-year high as very few car...
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