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The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
By Rhod Mackenzie
For the second winter in a row, Europe’s energy strategy is largely based on the hope of a warm winter and low economic demand for gas. Despite these and a number of other favourable factors, the price of electricity is fluctuating around 50 euros per MWh (525 euros per thousand cubic metres), which is twice the average price for 2011-2021.
Europeans hope that the difficult “energy” times will soon be over. They look to the future with hope and make plans in which, thanks to the United States and Qatar, in two years’ time there will be an abundance of liquefied natural gas (LNG) on the gas markets instead of a shortage. It is true that for this scenario to become a reality, all or most of the favourable factors need to be in place, in other words, you need luck, which Europe has not been lacking so far.
“From 2025, an unprecedented number of new LNG projects are expected to come on stream, rebalancing the markets,” the International Energy Agency (IEA) said in a statement.
“The gas market is moving towards a buyer’s market,” says IEA chief Fatih Birol, referring to a market with low prices, where there will be a lot of gas and where prices will be dictated not by sellers but by buyers.
LNG is now the main product on the European gas market. Very little Russian gas flows through the southern gas pipelines, and the gas pipelines in Norway and Algeria are already operating at maximum capacity and at the limit of technical possibilities.
“Everyone is trying to increase production more,” Anders Opedal, head of the Norwegian oil and gas company, recently commented at an energy conference on the continent’s energy situation, “but in the end Europe will be dependent on LNG supplies”.
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Europe hopes for another mild winter over gas fears
By Rhod Mackenzie For the second winter in a row, Europe’s energy strategy is largely based on the hope of a warm winter and low economic demand for…
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
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Reject and oppose your dependable and inexpensive gas supplier, Russia. Kiss the butt of the despicable Khazar (aka Jewish) American Neocon Interlopers. Then hope for a mild winter.
If this is not a quintessential example of terminal stupidity, I would like to see a better one.
Indeed! Destroy your economies,impoverish your citizens and deindustrialise your countries because the US wants to take over and control Russia. Total madness.
Qatar may be getting some push back from other Middle East countries for supporting the US and Europe due to their support for Israel. If this thing in Gaza blows up, it could have ramifications for Europe going forward.
It will ultimately suffer as Henry Kissenger once said ‘its far more dangerous to be a friend of the USA than its enemy’