Share this page!

Enter URL or ID to Unroll

You can paste full URL like: https://x.com/threadreaderapp/status/1644127596119195649
or just the ID like: 1644127596119195649

How to get URL link on X (Twitter) App

  1. On the Twitter thread, click on or icon on the bottom
  2. Click again on or Share Via icon
  3. Click on Copy Link to Tweet
  4. Paste it above and click "Unroll Thread"!
  5. More info at Twitter Help
Stephen Stapczynski Profile picture
@SStapczynski
Feb 24, 2022 • 9 tweets • 4 min read • Read on X
Scrolly
European natural gas prices surge 41% (!) after Russian forces attacked targets across Ukraine 📈

⚠️ Supply disruption feared after the West vowed further sanctions
💸 Dutch TTF jumped to 125 euros/MWh (nearly $40/mmbtu), the highest level in 2 months

bloomberg.com/news/articles/…
Around a third of Russia’s gas to Europe typically flows via Ukraine, and analysts have said any escalation of the conflict may disrupt those flows.

“In the event of prolonged disruption, gas inventory couldn’t be rebuilt through the summer,” Woodmac's Filippenko said
Ukrainian state company Naftogaz says all the facilities of its gas transportation system are operating as usual so far and that natural gas is being supplied in the required amounts

bloomberg.com/news/articles/…
European gas prices are at a two-month high, and well above normal for this time of year

Meanwhile...

🇩🇪 German power for March reached 260 euros a megawatt-hour, the highest since Jan. 7
🪨 European coal for next year gained as much as 13% to $145 a ton on ICE Futures Europe
🥇 Gold surged to its highest level in more than a year after Russia ordered troops into Ukraine, as bullion plays its traditional role as a harbor amid geopolitical upheaval
European natural gas prices extend rally 📈📈📈

Dutch TTF natural gas futures gained as much as 47%, the most since since at least 2005, in their fourth-straight daily advance

Trading at about $41/mmbtu right now

bloomberg.com/news/articles/…
European natural gas price rally continues

Dutch TTF futures trading at 134 euros/mwh, or $44/mmbtu

(They’re still a tad below record high of ~187 euros)
European natural gas prices now trading at the equivalent of $46/mmbtu

That’s pretty high
As expected, Asian LNG prices surged amid Russia disruption fears

European gas prices surged on Thursday, which will boost global competition for a finite amount of spot LNG. Asian buyers will need to increase bids to attract LNG shipments from the Atlantic

• • •

Missing some Tweet in this thread? You can try to force a refresh
　

Keep Current with Stephen Stapczynski

Stephen Stapczynski Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @SStapczynski

Stephen Stapczynski Profile picture
Aug 30
How Japan ignored climate critics and built a global natural gas empire
🇯🇵❤️🚢

Every six hours, somewhere in the world, an LNG shipment controlled by a Japanese company leaves a port. However, these tankers are only the tip of the iceberg

A thread 🧵
bloomberg.com/graphics/2024-…
Image
Japan began importing LNG in 1969 (see attached thread about that)

Over the last 50+ years, the Japanese government and its companies have worked together to unlock new supplies from Brunei and Malaysia to Indonesia and Russia

How does Japan, a country with little resources of its own, spearhead a fossil fuel industry?

They agree to buy the gas. And a lot of it

Japan’s long-term purchase agreements underpinned many LNG export projects

The first LNG cargoes from Qatar to Australia went to Japan Image
Read 23 tweets
Stephen Stapczynski Profile picture
Aug 17
Malaysia founded the oil & gas giant Petronas 50 years ago today, adding to a wave of countries nationalizing lucrative fuel supplies 🇲🇾 🛢️

Here is a short thread of about the creation of Petronas, one of the most important and influential Asian fossil fuel producers🧵
Shell discovered Malaysia’s first oil well in 1910

(Shell first commenced operations in Malaysia in 1891)

“The Grand Old Lady” produced for decades, and put Sarawak on the map Image
Over the next 50 years, Shell was busy

👉 They Built Malaysia’s first refinery in 1914

👉 Installed the first petrol pump in Kuala Lumpur in 1921

👉 And in the 1960s accelerated offshore exploration Image
Read 13 tweets
Stephen Stapczynski Profile picture
Aug 5
An LNG tanker docked at a sanctioned Russian facility has no insurer, is managed by a little known Indian company and is pretending to be somewhere else
🇷🇺🚢

This is how Russia is trying to circumvent US measures against its new Arctic LNG project 🧵
bloomberg.com/news/articles/…
Russian gas/LNG had largely avoided sanctions since the 2022 invasion of Ukraine

That changed in Nov 2023, when the US imposed sanctions against the new Arctic LNG 2 project

bloomberg.com/news/articles/…
While the facility began production in December, no LNG has been shipped as restrictions kept foreign companies away and stopped delivery of the specialized, ice-ready carriers

This was a key area where Western sanctions actually had a tangible impact on Russia Image
Read 13 tweets
Stephen Stapczynski Profile picture
Jun 27
The dark horse of US LNG 🇺🇸🐴

A decade ago, an ex-banker & lawyer were driving across Texas in a rental car trying to raise money for an LNG export project

Today, they're the billionaire owners of Venture Global ensnared by politics and angry customers
bloomberg.com/news/features/…
For nearly half a century, the LNG industry was dominated by petrostates and Big Oil

The shale boom upended that, shifting the advantage to the US and opening the door to entrepreneurs, like Venture Global

These outsiders propelled the US to become the world's top LNG exporter Image
First on the scene was Charif Souki, a little-known name at the time who founded Cheniere, the top US LNG exporter. He was ousted in 2015

Souki then founded Tellurian but struggled to capture lightning in a bottle a 2nd time. Now he owes lenders millions
bloomberg.com/news/articles/…
Read 20 tweets
Stephen Stapczynski Profile picture
May 5
How US sanctions are strangling Putin’s ambitions to grow LNG exports
🇺🇸 🥊🇷🇺

Arctic LNG 2 has been ready to start exports for months

And yet it sits virtually idle, the first piece of Russia’s energy complex to be halted by US restrictions

A thread 🧵

bloomberg.com/news/articles/…
Some background:

🚢 Russia has long sought to increase its share of the global LNG market, but the war and the subsequent sharp drop in pipeline gas Europe have reinforced the importance of these ambitions

Moscow wants to expand LNG output three-fold by 2030 Image
Enter Arctic LNG 2, a massive complex which would boost Russia’s LNG exports by 60%

The primary mission was to develop new LNG customers in East Asia by sending fuel across the Northern Sea Route, using enormous icebreaker vessels to traverse the frozen waters Image
Read 20 tweets
Stephen Stapczynski Profile picture
Mar 3
HOW LNG IS MAKING QATAR RICH 🇶🇦🚢

The Gulf nation of Qatar is setting itself up to control about a quarter of all liquefied natural gas production by the end of the decade -- and with it, a growing share of the world's wealth and influence

A thread 🧵

bloomberg.com/news/features/…
Image
Qatar unveiled last week plans to boost LNG export capacity another 13% on top of previously announced projects, together lifting production from 77 million tons/year to 142 million tons by 2030

This will make the rich nation (with a population of just 2.7 million) much richer Image
So how did Qatar even get here?

Time for a (simplified) history lesson…

Fifty years ago, Qatar was largely seen as a fossil-fuel backwater compared with its Persian Gulf neighbors Kuwait, Saudi Arabia and the UAE
Image
Image
Read 47 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

Send Email!

:(