European gas prices have plunged to the lowest since mid-2021, when Russia was just beginning to squeeze supplies before its invasion of Ukraine, helping to reverse a surge in inflation and bring relief to consumers.
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The Laundromat: How the price cap coalition whitewashes Russian oil in third countries
Well into the second year of the full-scale invasion of Ukraine, the EU, most of the G7 countries, and Australia have cracked down on their imports of Russian crude oil and oil products. At the same time, these countries, which are all part of the price-cap coalition whose objective is to limit Russia’s revenues from fossil fuel exports, have increased imports of refined oil products by leaps and bounds from the countries that have become the largest importers of Russian crude oil.
A Price Cap Loophole Is Undermining Sanctions On Russian Oil
Europe has boosted imports of refined petroleum products from countries that have raised imports of Russian crude oil, as a major loophole in the sanctions risks undermining the effectiveness of the price cap and embargoes, a report from the Centre for Research on Energy and Clean Air (CREA) showed on Wednesday.
The EU, Australia, and most of the G7 countries have banned direct imports of Russian crude oil, but they have raised indirectly imports of Russian oil by purchasing higher volumes of oil products from countries that have become the biggest buyer of Russia’s crude, the Finland-based center said.
U.S. Sends Delegation To Saudi Arabia To Discuss Energy And Security
(Apr 14, 2023)
White House Coordinator for the Middle East and North Africa and the U.S. Special Presidential Coordinator for Global Infrastructure and Energy Security visited Saudi Arabia officials on Friday to discuss regional security and energy matters.
Oil Steady After Four Weekly Gains as IEA Warns of Price Rises
West Texas Intermediate futures traded above $82 a barrel after posting the longest run of weekly gains since June. A surprise production cut by OPEC+ will tighten the market more than previously expected and lead to further price increases, inflicting more pain on consumers, the IEA said on Friday.
Saudi Arabia’s national oil company raked in a record $161 billion profit last year, as the Ukraine war and OPEC+ drove a 46% increase
(12.03.2023)
Aramco boosted its dividend — a crucial source of funding for the Saudi Arabian government — to $19.5 billion for the final quarter, up 4% from the previous three-month period.
US and European peers such as Chevron Corp. and Shell Plc also reported blowout earnings and are returning billions of dollars to shareholders through larger dividends and buybacks. Aramco, until now, has instead focused on using its extra cash to increase output.
Russia becomes China’s top oil supplier in Jan-Feb; energy acts as ‘ballast stone’ of bilateral trade
It is not the first time for Russia to top China‘s oil supplier list. In 2022, Russia shipped the most crude oil to China on a monthly basis in May and November. In terms of the whole year of 2022, Russia exported a total of 86.25 million tons of oil to China, ranking second after Saudi Arabia‘s 87.49 million tons, according to customs data.
Russia is also China‘s main source of natural gas and coal imports, and the „ballast stone“ role of energy in bilateral trade has been further highlighted, Chinese newspaper the Economic Daily reported on Monday, citing Chinese Ambassador to Russia Zhang Hanhui.
Why China is so important for the Russian economy
The Chinese currency, the yuan, has become a major player in Russia’s foreign trade, according to data from the country’s central bank. The share of renminbi in Russia’s import settlements jumped to 23% by the end of last year from only 4% in January 2022. The yuan’s share in export settlements also surged from 0.5% to 16%. At the same time, the two countries have been slashing the share of the US dollar and euro in their bilateral trade.
How America Took Out The Nord Stream Pipeline
Last June, the Navy divers, operating under the cover of a widely publicized mid-summer NATO exercise known as BALTOPS 22, planted the remotely triggered explosives that, three months later, destroyed three of the four Nord Stream pipelines, according to a source with direct knowledge of the operational planning.
Two of the pipelines, which were known collectively as Nord Stream 1, had been providing Germany and much of Western Europe with cheap Russian natural gas for more than a decade. A second pair of pipelines, called Nord Stream 2, had been built but were not yet operational. Now, with Russian troops massing on the Ukrainian border and the bloodiest war in Europe since 1945 looming, President Joseph Biden saw the pipelines as a vehicle for Vladimir Putin to weaponize natural gas for his political and territorial ambitions.
„Nord Stream“-Detonationen: USA dementieren Urheberschaft
Die USA haben einen Bericht des bekannten Investigativreporters Seymour Hersh zurückgewiesen, wonach US-Marinetaucher für die Sprengung der „Nord Stream“-Gaspipelines in der Ostsee im vergangenen September verantwortlich gewesen sein sollen. „Diese Behauptung ist völlig und vollkommen falsch“, sagte ein Sprecher des Auslandsgeheimdienstes CIA gestern der Nachrichtenagentur AFP.
LNG-Eröffnung in Wilhelmshaven: „Ein wichtiger Beitrag für die Sicherheit“
Der Kanzler verwies auf die dramatischen Folgen des russischen Angriffskriegs gegen die Ukraine – in erster Linie für die Ukrainerinnen und Ukrainer, aber auch für Inflation und Energiesicherheit. Wenn aber nun nach diesem Terminal auch die weiteren geplanten Anlagen in Lubmin, Brunsbüttel und Stade fertiggestellt seien, „dann können wir sagen: Deutschland hat seine Energiesicherheit gewährleistet“, hob der Kanzler hervor. Insofern sei dies „ein guter Tag“.
Italien: Regierung verabschiedet Paket gegen Energiekrise
Im Hinblick auf die Energiesicherheit wird das Paket vier Milliarden Euro bereitstellen, um die Gasspeicherung vor dem Winter zu erhöhen. Um Italiens Gasproduktion auf sechs Milliarden Kubikmeter pro Jahr zu verdoppeln, wird die Regierung neue Konzessionen für Bohrungen zwischen neun und zwölf Meilen vor der italienischen Adriaküste vergeben.
Tinte trocken für fünftes schwimmendes LNG-Terminal: Die Bundesregierung hat einen befristeten Mietvertrag für ein fünftes Importterminal für Flüssigerdgas (LNG) geschlossen. Standort: Wilhelmshaven.
Why are Europe’s gas prices falling?
In preparation for this winter, European countries have been rapidly filling their gas storage facilities with liquified natural gas (LNG) imported by ship from Qatar, the US and elsewhere. Those facilities are now reported to be virtually full. The latest phenomenon is LNG ships queuing off European coasts waiting to unload their cargoes – and being kept waiting because there is a shortage of storage space and facilities to unload. There are believed to be around 50 such ships currently at sea off Europe.
Before heading to US, Herzog says he’ll discuss Iran threat, Lebanon deal with Biden
Noting that he is traveling at the invitation of “my friend” Biden, Herzog says his visit will focus on regional developments, chief among them “the Iranian threat, which is destabilizing not only the Middle East, but the entire world, requiring a firm and united stand against it.”
He will also discuss the Abraham Accords, the imminent maritime border deal with Lebanon, and “our desire and hope to have more nations join the circle of regional peace.”
Iran Nuclear Deal: Protests in Iran make restoring the JCPOA more urgent than ever
If the idea of withdrawing from the JCPOA was always bad, it is even more detrimental now considering the political shifts in Tehran. The moderate administration of Hassan Rouhani which sought better relations with the West has been wholly discredited by Trump’s aggressive policies. The hardliners who now dominate the whole political landscape in Iran have always been skeptical of the JCPOA.
Moreover, an influential faction within the hardline camp sees the JCPOA as irrelevant at best and constraining Iran’s security options at worst. According to this line of thinking, Iran has already weathered the storm of the U.S. sanctions. Following on from that, what Iran needs now is not to get sanctions lifted, but rather to further immunize Iran from them by seeking closer ties with Russia and China. Iran notably has become a full-fledged member of the Shanghai Security Organization.
Bundeswirtschaftsminister Habeck wirft mehreren Staaten – darunter den USA – vor, überhöhte Preise für Erdgas zu verlangen. Er spricht von „Mondpreisen“. #Energiekrise
Gasprom: Russland liefert wieder Gas nach Italien
Russland will nach einem kurzen Lieferstopp wieder Gas durch Österreich nach Italien pumpen. Es sei mit den italienischen Abnehmern eine Lösung des Problems gefunden worden, teilte der russische Staatskonzern Gasprom heute auf Telegram mit.
Der österreichische Betreiber erkläre sich bereit, Nominierungen für den Transport zu akzeptieren, was die Wiederaufnahme russischer Gaslieferungen ermögliche.
Gazprom has just released a statement that basically says it will stop sending gas to Europe through Ukraine. It’s naturally connected to the Nord Stream explosions and it’s an attempt to either drive prices up much more ahead of winter or an indication that deliveries will stop
(28.09.2022)
Taliban unterzeichnen Handelsabkommen mit Russland
Russland solle nun jährlich etwa eine Million Tonnen Benzin, eine Million Tonnen Diesel, 500.000 Tonnen Flüssiggas (LPG) und zwei Millionen Tonnen Weizen an Afghanistan liefern.
Two explosions reported near Nord Stream pipelines gas leak in Baltic Sea
Leaders of Poland and Denmark and experts have raised concerns that the leaks on the Nord Stream 1 and 2 pipeline were sabotage.
The incidents overshadowed the inauguration of a long-awaited pipeline that will carry Norwegian gas to Poland in efforts to bolster Europe’s energy independence from Moscow.
5. Pipeline / LNG Terminals Drei schwimmende Flüssiggas-Terminals bis Ende 2022
– Wilhelmshaven, im Bau
– Brunsbüttel, seit 23.09. im Bau
– Lubmin, seit 20.09. im Bau
– Pipeline-Gas Frankreich ab Mitte Okt. 2022
Gasspeicher ?? zu 91 Prozent voll, Energie-update 26.09.2022
1. Gasspeicher: ?? 91,02%, EU: 87,41%, Trend: +
2. ?? Ziele: 01.10. 85% & 01.11. 95%
3. ?? Ziel: 01.11. 80% (14 v. 18 EU-Länder erreicht)
4. Gaspreise… #gasspeicher #gas #Energiekrise
Pipeline gas supplies to Pakistan are possible, says Putin
Prime Minister Shehbaz Sharif held a meeting with Russian President Vladimir Putin in Samarkand on Thursday.
During the meeting, they discussed bilateral relations and ways to further strengthen cooperation.
Es geht (auch) um Gas
(10. Mai 2018)
Im transatlantischen Machtkampf um Iran geht es nicht nur um das Atomabkommen und um neue Handelssanktionen. Eine nicht zu unterschätzende Rolle spielt – neben den lebenswichtigen Ölexporten – auch das Erdgas.
Iran gehört nämlich zu den Ländern mit den größten Gasvorkommen weltweit. Und die EU möchte davon profitieren, um sich von russischem Gas unabhängiger zu machen.
How the Saudis embarrassed Biden over oil prices
If the United States and Iran successfully wrap up their nuclear negotiations, Tehran will be free once again to sell its crude legally. According to one energy analyst, Iran could put 1 to 2 million barrels per day on the market rather quickly, which means an abundance of supply and lower returns (not to mention more competition) for the Saudis. While the nuclear talks have again hit a standstill over last-minute disputes, Riyadh doesn’t want to see oil drop to $65 a barrel and is therefore signaling to the market that adjustments will be made in the event Iran is able to return as a full player. Frankly, OPEC has gotten used to $100 a barrel crude, and it has no intention of going back to the days when supply vastly outstripped demand.
Further OPEC+ Production Cuts Could Be Looming
(06.09.2022)
“The simple tweak shows that we will be attentive, preemptive and pro-active in terms of supporting the stability and the efficient functioning of the market to the benefit of market participants and the industry,” Prince Abdulaziz bin Salman said.
An Iran deal „could add up to 1m barrels/day to the market, BofA said, estimating that oil prices could temporarily drop by $10 to $15 per barrel. But OPEC+ would likely react swiftly, with other members taking some production out of the market“.
Brent Crude has declined by more than 25% since March, when it hit $127 a barrel. If the U.S. and Iran come around to re-signing the JCPOA, an additional 1m bpd of Iranian crude could enter the market. OPEC+ is taking preparatory steps to ensure prices don’t plummet
U.S. natgas falls 3% to 4-week low on drop in oil and global gas prices
Oil prices fell by around 4% on Wednesday to their lowest since Russia invaded Ukraine on demand fears stoked by looming recession risks and downbeat Chinese trade data.
If sanctions lifted, Iran can meet Europe‘s energy needs
Referring to the energy crisis in Europe, the Iranian Foreign Ministry Spokesman said that if JCPOA negotiations are successful and unilateral sanctions against the country are lifted, Iran can meet most of Europe‘s needs.
Iran will Gas nach Europa liefern. Außenamtssprecher Kanaani: „Wir haben bekanntlich die notwendigen Gas-Reserven und das Potenzial.“ Voraussetzung sei aber, dass USA die Wirtschafts-Sanktionen aufhöben und Wiener Atomabkommen wieder in Kraft trete.
Financing Putin’s war: Fossil fuel exports from Russia in the first six months of the invasion of Ukraine
Key findings include:
Fossil fuels continue to fill Kremlin’s war chest, due to high prices
– Russia earned EUR 158 billion in revenue from fossil fuel exports in the first six months of the war (February 24 to August 24). The EU imported 54% of this, worth approximately EUR 85 billion.
– Fossil fuel exports have contributed approximately EUR 43 billion to Russia’s federal budget since the start of the invasion, helping fund war crimes in Ukraine.
– The largest fossil fuel importer was the EU (EUR 85.1bln), followed by China (EUR34.9bln), Turkey (EUR10.7bln), India (EUR6.6bln), Japan (EUR2.5bln), Egypt (EUR2.3bln, and South Korea (EUR2bln).
– Surging fossil fuel prices mean that Russia’s current revenue is far above previous years’ level, despite the reductions in this year’s export volumes.
Studie: Moskaus Energieeinnahmen höher als Kriegskosten
Wie das in Finnland ansässige Centre for Research on Energy and Clean Air (CREA) heute mitteilte, betrugen die Einnahmen in dem Zeitraum umgerechnet 158 Milliarden Euro. Dem gegenüber stehen geschätzte Kriegskosten in Höhe von hundert Milliarden Euro.
(…)
Diese zeigten, dass die EU mit 85 Milliarden Euro der größte Abnehmer der Lieferungen war, gefolgt von China mit 35 Milliarden Euro.
Aus welchen Quellen kommt der Strom?
Im gesamten Jahr 2021 betrug die Einspeisung aus Erneuerbaren Energien 42,4 Prozent. 2020 waren es noch 47,1 Prozent. (…)
Durch Erdgas wurde im ersten Quartal des laufenden Jahres etwa 13 Prozent des Stroms hergestellt. (…)
Die drei Atomkraftwerke Isar 2, Emsland und Neckarwestheim 2 sind derzeit noch mit rund sechs Prozent am Strommix beteiligt.
Deutschland und Frankreich: Schulterschluss bei Gas und Strom
„Deutschland braucht unser Gas, und wir brauchen den Strom, der im übrigen Europa und insbesondere in Deutschland produziert wird“, sagte Frankreichs Präsident Emmanuel Macron nach einer Videokonferenz mit Bundeskanzler Olaf Scholz (SPD).
Frankreich werde in den nächsten Wochen die notwendigen Gasverbindungen fertigstellen, um Deutschland Gas zu liefern, wenn es benötigt werde. In gleicher Weise habe sich Deutschland in Bezug auf Stromlieferungen verpflichtet.
Eilmeldung: Über 5.000 ehemalige hochrangige israelische Offiziere schreiben einen Brief an Biden, in dem sie ihn auffordern, kein neues Atomabkommen mit dem Iran zu unterzeichnen. Ich habe zu diesem @FoxNews Bericht beigetragen.
(01.09.2022)
Russia’s Gazprom shuts European gas pipeline indefinitely as energy crisis escalates
Russia’s state-controlled natural gas supplier, Gazprom, heralded a major escalation in Moscow’s energy war with Western Europe on Friday when it announced that the Nord Stream 1 pipeline would remain closed indefinitely, a move that increases the prospect of blackouts and economic turmoil across the continent.
Energy price inflation: how the UK and EU could fight it
Is there international action that can be taken now?
It appears increasingly likely that some forms of coordinated international action will be taken, mirroring responses to the global financial crisis, the eurozone debt crisis and the Covid pandemic.
The former Italian prime minister Mario Draghi floated the idea of “a cartel of buyers” at a meeting with the US president, Joe Biden, in May. This would involve large oil consumers working together to negotiate prices.