Hello TJ, I'm continuing to dissect your recent post to me about energy. Regarding this point...
<< Good news, CPC China China China to the rescue, to fight inflation, fill shortfall, albeit at the cost of EU bloomberg.com and with the help of Putin :0))))))) >>
Europe seems to be well-supplied now...
Why Natural Gas Prices in Europe Are Suddenly Plunging
nytimes.com
A combination of full storage, lower demand and mild weather, among other factors, has eased concerns of a spike in heating and power prices — for now.
By Stanley Reed
Updated Oct. 26, 2022
The war in Ukraine is raging, Russian natural gas exports to Europe are dwindling and the winter heating season is approaching. That would seem like a recipe for higher prices, yet the cost of the fuel, which is vital for heating homes and for powering electricity plants and industry, has been plummeting.
The benchmark European price of natural gas this week fell to a level that is more than 70 percent below its record high in August. One of the main reasons for the plunge in prices is that Europe, at least for now, has all the natural gas it needs.
That is because over the summer, Europe went on a global buying spree as Russia, its longtime main supplier, reduced its flow of natural gas.
Across the continent, governments and businesses have aggressively replenished how much gas they are holding in storage. At the urging of European Union officials and at a high cost, energy companies and governments have filled underground caverns and other facilities to more than 90 percent of capacity, compared with less than 80 percent year ago. |
