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Thread: Natural gas prices in Europe

  1. #1
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    Default Natural gas prices in Europe

    I was reading that the NG prices in Europe when normally coupled w oil prices would reflect a barrel price of $410. This must be hitting folks badly.

    https://www.ft.com/content/070a7b34-...3-9d203011599e


    https://www.reuters.com/markets/euro...rs-2022-08-24/

    LONDON, Aug 24 (Reuters) - Another dramatic spike in natural gas prices appears to have ended any hopes that Europe's inflation battle is set to ease, with financial markets now bracing for higher prices, a faster pace of interest rate hikes and a deeper economic downturn.
    .
    Gas prices have surged almost 40% in August and nearly 300% this year.

    "The key is energy, energy, energy. There is an energy crisis, let's be honest about that, electricity prices are 10 times pre-COVID levels, that is a shock to the system," said Thomas Costerg, senior economist at Pictet Wealth Management.

  2. #2
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    Default Re: Natural gas prices in Europe

    Thanks, Putin.
    "For a successful technology, reality must take precedence over public relations,
    for nature cannot be fooled."

    Richard Feynman

  3. #3
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    Default Re: Natural gas prices in Europe

    Price of natural gas in September 2021 was approximately €23,- per Megawatthour yesterday it was €285,- that's 12 times higher. A lot of people are struggling especially those who live on a small income/pension.

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    Default Re: Natural gas prices in Europe

    Quote Originally Posted by dutchpp View Post
    Price of natural gas in September 2021 was approximately €23,- per Megawatthour yesterday it was €285,- that's 12 times higher. A lot of people are struggling especially those who live on a small income/pension.
    this is august, what happens come february?
    Simpler is better, except when complicated looks really cool.

  5. #5
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    Default Re: Natural gas prices in Europe

    The gas market is a spot market, prices change rapidly. You'll never know what happens in February.
    Perhaps the people of Russia will hang Tsar Putin in January.

  6. #6
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    Default Re: Natural gas prices in Europe

    I'm working on it.

    IMG_20220824_140252_737.jpg

  7. #7
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    Default Re: Natural gas prices in Europe

    Which one is this?

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    Default Re: Natural gas prices in Europe


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    Default Re: Natural gas prices in Europe

    Actually it will probably exacerbate prices.. importing via ship is not exactly cheap nor efficient. It's a stop gap. The Germans are ****ting themselves about this coming winter. This pipeline should be ready around December, it's only 30Km

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    Default Re: Natural gas prices in Europe

    Quote Originally Posted by lupussonic View Post
    Actually it will probably exacerbate prices.. importing via ship is not exactly cheap nor efficient. It's a stop gap. The Germans are ****ting themselves about this coming winter. This pipeline should be ready around December, it's only 30Km
    The Germans shot themselves in both feet when the junked their nukes.. Seems that Putin had a hand in funding the greens... as well as the anti fracking mob.

  11. #11
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    Default Re: Natural gas prices in Europe

    Yes, and guzzling Russian gas like there's no tomorrow didn't help either. Aber es ist was es ist.

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    Default Re: Natural gas prices in Europe

    Greta Thunberg appears to have gone bust.

    Will

  13. #13
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    Default Re: Natural gas prices in Europe

    There are around 49,000 completely wrong statements in that video.

    I am an ultrasonics tech. I look into steel.. the field I work in is mostly energy and so I have a reasonable handle on the world situation. But I am not an oil and coal head, in fact quite the opposite. Both the talking head and the interviewee seem to be paid by the pollution lobby and completely disregard climate change. Shameful.

  14. #14
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    Default Re: Natural gas prices in Europe

    The war in Ukraine will be about who breaks first.

    Russians - impact of sanctions and depletion of military resurces.
    Ukrainian will to defend.
    EU capacity to weather the weather.... (sit in the cold for months).
    It's all fun and games until Darth Vader comes.

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    Default Re: Natural gas prices in Europe

    Quote Originally Posted by Andrew2 View Post
    The Germans shot themselves in both feet when the junked their nukes.. Seems that Putin had a hand in funding the greens... as well as the anti fracking mob.

    Nuclear power - still no solution found for final storage of waste in Germany. Add to that Fukushima. Germany has a pretty high population density which also reduces possibilities for safe final storage of waste. The anti-nuclear power movement goes back to the 1970s.
    Anti fracking - long term effect of fracking chemicals on drinking water quality may be negative. Again, less of a problem in low density populated countries.

    Putin funding the greens and the antifracking - I have never heard that before, do you have a source for that information? If so, please do provide it.

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    Default Re: Natural gas prices in Europe

    Quote Originally Posted by LeeG View Post
    "The key is energy, energy, energy. There is an energy crisis, let's be honest about that, electricity prices are 10 times pre-COVID levels, that is a shock to the system," said Thomas Costerg, senior economist at Pictet Wealth Management.
    But healthcare is cheap.

    There are tradeoffs. The EU does not do too bad.
    Life is complex.

  17. #17
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    Default Re: Natural gas prices in Europe

    Quote Originally Posted by lupussonic View Post
    There are around 49,000 completely wrong statements in that video.

    I am an ultrasonics tech. I look into steel.. the field I work in is mostly energy and so I have a reasonable handle on the world situation. But I am not an oil and coal head, in fact quite the opposite. Both the talking head and the interviewee seem to be paid by the pollution lobby and completely disregard climate change. Shameful.
    The video is evidently an opinion piece. I'll keep this in mind when watching Sky News.

    Question for you: do you think the UK and European governments and heads of industry are managing the energy crisis and transition/introduction of renewables smartly?
    Will

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    Default Re: Natural gas prices in Europe

    And Russia is blatantly thumbing their nose at Europe by burning off the natural gas right on the Finnish border. The burn flame is visible from space. The burned gas is $10 million a day.
    https://www.msn.com/en-us/news/world...722b03#image=1
    AA118lFG.jpg

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    Default Re: Natural gas prices in Europe

    Quote Originally Posted by willmarsh3 View Post
    Question for you: do you think the UK and European governments and heads of industry are managing the energy crisis and transition/introduction of renewables smartly?
    I'm going with a 'No', here.

    We've had hints that this situation has been in the (ahem) pipeline for decades. Not least the European dash for gas in the 90s and basically weaning us to a mobster-fascist-failing-State. There has been ample opportunity to develop the renewable sector, to bring online new fission sources, to pour money into fusion, and to wean us off the burning of the greasy black rocks and sticky underground gloop virtually since I were a lad.

    And the reason is, of course, the digger-uppers of the black rocks and drillers and pumpers of the underground gloop and the mobsters run the whole flipping economy, control governments, and everything.

    In the immortal words of Private Frazer ... "we're doomed."

    ...Except, just maybe, we're not.

    This species, much of the time, is as daft as a brush, yet sometimes reaches moments where momentous changes are necessary and acted upon. I think the next decade or two is going to be our defining moment. Of course, our offspring in the 50s are going to roll their eyes at us and wonder what the hell we were thinking about before these changes happened.

    Andy. Optimist.
    "In case of fire ring Fellside 75..."

  20. #20
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    Default Re: Natural gas prices in Europe

    Not sure where this fits, but this past week the U.S. dollar was worth more than the Euro for the first time (I think) in more than 20 years.

    Tom
    Ponoszenie konsekwencji!

    www.tompamperin.com

  21. #21
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    Default Re: Natural gas prices in Europe

    I am very lucky to be on the right side of this crisis. I don't pay for energy at all as I am essentially a working gypsy, and have contracts running to the end of next year because of this crisis. In my home town I know a guy that runs a small but excellent pizza restaurant, his energy bill last month came to 4000 euros, up almost 50% from before the war in UE. People are really hurting over here.

  22. #22
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    Default Re: Natural gas prices in Europe

    The long view: some people in Europe are suffering a bit right now because of Putin's carbon tax. In the long run that will prevent a lot of suffering by a lot of people all over the world.

  23. #23
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    Default Re: Natural gas prices in Europe

    Quote Originally Posted by AndyG View Post
    I'm going with a 'No', here.

    We've had hints that this situation has been in the (ahem) pipeline for decades. Not least the European dash for gas in the 90s and basically weaning us to a mobster-fascist-failing-State. There has been ample opportunity to develop the renewable sector, to bring online new fission sources, to pour money into fusion, and to wean us off the burning of the greasy black rocks and sticky underground gloop virtually since I were a lad.

    And the reason is, of course, the digger-uppers of the black rocks and drillers and pumpers of the underground gloop and the mobsters run the whole flipping economy, control governments, and everything.

    In the immortal words of Private Frazer ... "we're doomed."

    ...Except, just maybe, we're not.

    This species, much of the time, is as daft as a brush, yet sometimes reaches moments where momentous changes are necessary and acted upon. I think the next decade or two is going to be our defining moment. Of course, our offspring in the 50s are going to roll their eyes at us and wonder what the hell we were thinking about before these changes happened.

    Andy. Optimist.
    This Russia mess is one of many factors turning the inevitable into a crisis. There will be more.

  24. #24
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    Default Re: Natural gas prices in Europe



    Still more fun
    I'd much rather lay in my bunk all freakin day lookin at Youtube videos .

  25. #25
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    Default Re: Natural gas prices in Europe

    Quote Originally Posted by P.I. Stazzer-Newt View Post


    Still more fun
    cripes that’s a lot. I went to Walmart yesterday and there’s more than one truck in the parking lot with the engine running, AC on and no one in the truck so when they come back from shopping they can get into a cool truck.

  26. #26
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    Default Re: Natural gas prices in Europe

    I just increased my monthly payment to the energy company with another 50%, **** Putin.

  27. #27
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    Default Re: Natural gas prices in Europe

    Looks like the invasion of Ukraine is doing to fertilizer prices and food production what covid did to supply chains.

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