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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (9610)	10/17/2022 2:11:08 PM
From: Broken_Clock	Respond to of 13821

Gazprom CEO Says All Nord Stream NatGas Could Be Redirected To Turkey by Tyler Durden Monday, Oct 17, 2022 - 05:00 AM Russia's natural gas supplies to Europe via the Nord Stream pipeline system will likely not be restored and could be redirected in pipelines via the Black Sea to Turkey. Russian energy giant Gazprom PJSC CEO Alexei Miller told Russian television on Sunday that NatGas supplies via Nord Stream will be redirected to Turkey if the necessary infrastructure is constructed. He said, "You know, nothing's impossible": "We're talking about those volumes which we have lost thanks to the acts of international terrorism against the Nord Stream pipelines, so these can be significant volumes," Miller told Russian television, quoted by Russian state-owned news agency Sputnik. "I'd like to remind you that we have the experience of preparing for the implementation of the South Stream project, which was originally planned to have a capacity of 63 billion cubic meters [per year]. Therefore, if we're talking even about the technical documentation for the development of the route, for South Stream - all this was already done at one time," Miller continued. South Stream was a project that began construction in 2012 but was canceled in 2014 due to European sanctions and restrictions by Brussels. The $20 billion, 1,500-mile-long pipeline network would've been able to transit 63 billion cubic meters of NatGas per year via the Black Sea to Bulgaria. It was eventually replaced by TurkStream, which became operational in 2020. Last week, Miller spoke at the Russian Energy Week forum in Moscow, where he said there was no urgency in fixing the Nord Stream 1 and 2 pipelines after the bombings. He said repairs could take years. Russian President Vladimir Putin was also at the forum last week and said: "We could transfer to the Black Sea the lost Nord Stream volumes that used to be transited across the Baltic Sea." Turkish President Recep Tayyip Erdogan and Putin met later in the week to discuss a new Black Sea pipeline using Turkey to export NatGas into Europe. Last week, Miller said pipelines in the Black Sea are less vulnerable to "terrorist acts" than those in the Baltic Sea. Turkey's Energy Minister Fatih Donmez said last week that additional NatGas links toward Turkey from Russia and a trading hub on the EU-Turkish border could be "technically possible."

To: Elroy Jetson who wrote (9610)	10/17/2022 5:20:05 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 13821

You couldn't be more wrong Elroy. China To Stop Reselling LNG To Europe By Charles Kennedy - Oct 17, 2022, 10:00 AM CDT Chinese state-owned energy giants have been recently told by authorities to stop reselling liquefied natural gas. In recent months, Chinese LNG importers have been selling their excess inventories to Europe. Europe’s LNG supply could dwindle just ahead of the winter heating season. Join Our Community Chinese state-owned energy giants have been recently told by authorities to stop reselling liquefied natural gas (LNG) cargoes to gas-starved Europe, in what could be a blow to the European hopes of continuous high inflows of LNG as the winter approaches. The National Development and Reform Commission (NDRC), China’s top planning body, has told the country’s state-held LNG importers, including Sinopec, PetroChina, and CNOOC, that they should stop reselling LNG cargoes and keep them to ensure Chinese gas supply this winter, sources familiar with the development told Bloomberg on Monday. In recent months, Chinese LNG importers have been selling their excess inventories to Europe and reaping big profits from the sales because of lackluster demand in China. Chinese domestic demand has been hit by incessant snap city-wide Covid lockdowns and a slowdown in economic growth. So Chinese sales of LNG have been a relief to the European market so far this year. But as China now moves to cater to its own energy security this winter, Europe’s LNG supply could dwindle just ahead of the winter heating season. Gas prices in Europe have dropped from record highs and hit on Monday the lowest level in three months after the EU is reportedly looking to introduce measures to limit the market volatility of the benchmark European natural gas prices at the Dutch TTF hub. According to a draft document that Bloomberg News has seen, the European Commission is set to propose measures to limit extreme price spikes in derivatives trading. Moreover, gas storage sites across the EU were 92% full as of October 16, according to data from Gas Infrastructure Europe. The storage sites are being filled faster than the EU and many individual members had initially planned. Although gas in storage alone will not be enough to see an economy such as Germany’s through the winter, the faster-than-planned gas storage filling has eased somewhat supply concerns, for now. By Charles Kennedy for Oilprice.com