7.3-magnitude earthquake strikes Japan off of the coast of Miyagi prefecture 🚨

Tsunami advisory has been issued for Miyagi and Fukushima prefectures 🚨
Tokyo Electric is checking the status of the Fukushima Dai-Ichi nuclear power plant after powerful quake

Blackouts reported across Fukushima prefecture

(Even if Fukushima Dai-Ichi loses power, it has extensive backup on site)

2 million households currently without power across Tepco's grid area

(That's a lot)

Several gigawatts worth of thermal power capacity knocked offline by the quake
Tohoku Electric says it is checking the status of its Onagawa nuclear power plant (which is currently offline)

No problems detected at nuclear fuel processing and storage facilities at Tokaimura

2.09 million without power on Tepco area
NO ABNORMALITIES detected at Fukushima Dai-Ni, Onagawa nuclear power plants after quake, atomic regulator says

Tepco is STILL checking status of wrecked Fukushima Dai-Ichi nuclear power plant

nikkei.com/article/DGXZQO…
The quake in Japan knocked a lot of power plants offline ⚡

Roughly 5 gigawatts worth of gas and coal power capacity was shut right after the earthquake

No abnormalities at Tepco's Kashiwazaki-Kariwa nuclear power plant (granted, its on the other coast)

news.yahoo.co.jp/pickup/6421120
Fire/explosion seen at Sendai harbor. There is speculation that it might be a nearby refinery

NOTE: Monitoring posts aren't registering any increase in radioactivity levels at Japan's nuclear power plants near the quake, including Fukushima Dai-Ichi, according to local broadcaster TBS
Some of the water pumps halted at Fukushima Dai-Ni's spent fuel pools. The pumps are used to cool the nuclear fuel

One of the pumps has already restarted, but another is still preparing to resume operations

A fire alarm was triggered at the wrecked Fukushima Dai-Ichi nuclear power plant, according to Japan's regulator

It isn't immediately clear the impact to the facility. But radiation readings are normal

A fire alarm was triggered in multiple locations at the turbine building for the No. 5 unit of Fukushima Dai-Ichi

Please note: The nuclear fuel has been successfully removed from that facility years ago

Quick recap on the situation at Fukushima Dai-Ichi

Reactors No. 1-3, which contain melted nuclear fuel, are still being checked for damage/abnormalities. But no damage reported

Fire alarm triggered at reactor No. 5, which doesn't contain nuclear fuel. But no damage yet reported
Japan Prime Minister Kishida says no confirmation of problems at nuclear power plants
Wrapping this up --

👍 No abnormalities at Japan's nuclear plants after quake, Kyodo reports. No damage from fire at Fukushima Dai-Ichi No. 5
👍 PM Kishida says large blackouts across Tokyo will be resolved within an hour
👍 Power plants are preparing to resume operations
Last update (hopefully):

Both pumps have now restarted at Fukushima Dai-Ni’s spent fuel pool, NHK reports. They were automatically knocked offline due to the quake, which is a normal thing to happen

No other problems seen at any of Japan’s nuclear reactors

All good 👍

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More from @SStapczynski

Mar 17
Late-night quake rocks Japan's power grid 🇯🇵⚡

Here is the latest:

🏭 More than 6 gigawatts worth of coal/gas-fired power shut. Restart timing unclear
💡 Over 30k without power in Tohoku. Power restored to Tokyo
☢️ No abnormalities at nuclear plants

bloomberg.com/news/articles/…
🚢 Soma LNG import terminal is offline
🛢️ Several oil refineries, including Sendai and Chiba, have been shut
WOOWEE!
📈📈📈

Japan wholesale electricity prices are surging after the quake shut several power plants

Nationwide rates jumped to an average of 47.75 yen/kWh, the highest in over a year Image
Read 4 tweets
Mar 16
Iran is reviving efforts to export LNG just as the world scrambles for more gas 🇮🇷

🚢 National Iranian Oil Co invited investors to submit proposals for construction of mini-LNG units
💪 Iran has the 2nd-biggest gas reserves in the world

Via @pat_syk

bloomberg.com/news/articles/…
To be sure... At least eight previous Iranian LNG export projects have stalled due to sanctions or capital constraints, including partnerships with France’s Total and Russia’s Gazprom

Sanctions stopped Iran’s previous attempts to enter the LNG market

Ninth time's a charm?
European buyers are scouring the globe for sources of gas that could replace Russian flows after the invasion of Ukraine

Will Iran become a potential supplier? International sanctions on Iran would likely be eased if a new nuclear deal is inked

bloomberg.com/news/articles/…
Read 4 tweets
Mar 16
These are the governments that are looking to cut fuel taxes to temper surging gasoline prices
🌎⛽👇

🇳🇿 New Zealand to cut fuel excise duties for 3 months
🇸🇪 Sweden seeks tax cut for gasoline/diesel June-Oct, and a one-time payment for car owners

bloomberg.com/news/articles/…
🇯🇵 The Japanese government and ruling Liberal Democratic Party will move to reactivate a “trigger clause” on the gasoline tax that will allow the levy to be lowered, Yomiuri reports

news.yahoo.co.jp/articles/26f7b…
🇺🇸 Several US states have taken steps to temporarily roll back their gasoline taxes, a move the Biden administration is considering backing on the federal level

bloomberg.com/news/articles/…
Read 5 tweets
Mar 15
Nickel trading will resume on the London Metal Exchange on Wednesday, a week after being suspended amid a historic short squeeze 🪙

The dramatic week briefly brought brokerages to the brink of failure and raised questions about LME’s future role

bloomberg.com/news/articles/…
Nickel traders at 8 a.m. London time on March 16 👇

Read 6 tweets
Mar 15
China sold several US LNG cargoes to Europe, a rare move by the world’s top buyer that highlights how sky-high prices are rerouting trade flows 🇨🇳🚢🇪🇺

Unipec sold shipments for summer delivery to Europe as the EU seeks to cut dependence on Russian gas

bloomberg.com/news/articles/…
🇺🇸 The shipments will load from Venture Global LNG Inc.’s Calcasieu Pass export facility in Louisiana

venturegloballng.com/press/venture-…
European natural gas rates surged to a record high last week on fears that the war in Ukraine will curb flows from top supplier Russia

The rally prompted Unipec’s traders to turn away from the lower-priced Chinese market, even as Beijing demand its importers secure more fuel
Read 4 tweets
Mar 13
Biden is under pressure to invoke Cold War-era powers to force more domestic oil production and tame prices 🇺🇸 ⛽️

The President could compel drilling rigs to deploy using the 1950 Defense Production Act, which Truman used to make steel for the Korean War

bloomberg.com/news/articles/…
The power wouldn’t directly mandate drilling

The president could invoke the Defense Production Act to ease supply chain problems that are holding back crude production, by ensuring supplies of low-cost pipes, sand and other essential equipment
So far, the Biden administration has shown little enthusiasm for the move

“It would basically be providing money to oil companies to do something that they already probably have the capacity to do,” said White House Press Secretary Jen Psaki
Read 6 tweets

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