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Mar 23 • 5 tweets • 2 min read
Russia will start demanding payment for its natural gas shipments to states that it deems “unfriendly” in rubles, said President Putin
🇷🇺 🥊 🚨

📈 Europe natural gas futures surge as much as 21%
🇪🇺 Members of the EU and the UK are considered unfriendly

bloomberg.com/news/articles/…
Natural gas prices were already rising ahead of anther round of US/EU sanctions against Russia 👀
European gas prices rose as high as 132 euros/mwh 📈📈📈
Oh boy
UPDATE: Japan will gather info on ruble payments for Russian natural gas, said Chief Cabinet Secretary Hirokazu Matsuno 🇯🇵

Japan imports 9% of its LNG from Russia. And Moscow recently put Japan on its "unfriendly country" list

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More from @SStapczynski

Stephen Stapczynski Profile picture
Mar 23
China aims to boost power capacity by more than 30% through 2025 🇨🇳⚡

😮 To put that into context: the 800-gigawatt growth goal is twice the size of India’s entire power fleet (!!)
💪 China also plans to increase gas output to improve energy security

bloomberg.com/news/articles/…
The ambitious power capacity target comes as China ramps up renewable installations, which operate for fewer hours over the year than traditional thermal plants and therefore require more capacity to generate the same amount of electricity
🛢️ China aims to lift domestic crude oil output back to 200 million tons a year and keep it at that level. Production fell below that level in 2016 after oil prices crashed

#OOTT
Read 4 tweets
Stephen Stapczynski Profile picture
Mar 21
India’s domestic coal prices are surging as buyers scramble to secure fuel 🇮🇳🪨

💴 Customers paid a premium of more than 340% above base prices this month via local auctions (Jan. was just a 100% premium)
📈 Global coal supply crunch sends prices higher

bloomberg.com/news/articles/…
These domestic coal shipments are still way cheaper than the price of importing fuel from the overseas market 💰

Thermal coal loaded at Australia’s Newcastle port soared to a record earlier this month as buyers shun Russian shipments and seek alternatives to pricey natural gas
Coal India, the world’s top producer of the fuel, sells about 15%-20% of its output through an online auction system in which consumers make offers above a minimum set price

Rates paid are typically far higher than the long-term contracts that account for the majority of sales
Read 4 tweets
Stephen Stapczynski Profile picture
Mar 21
European natural gas prices fell to the lowest level in almost 3 weeks on steady shipments from Russia
📉📉📉

🇷🇺 Russian gas flows through pipelines crossing Ukraine remain stable
🇷🇺 Gazprom said transit is normal
🇷🇺 Orders via Nord Stream edged higher

bloomberg.com/news/articles/…
Above-normal temperatures are forecast across most of mainland Europe during the next two weeks, which is also adding downward pressure on spot prices
European gas stockpiles are currently about 25% full and at the lowest seasonal level since 2018, according to data compiled by Bloomberg

Inventories typically bottom out at the end of winter and rise in April with the onset of spring
Read 4 tweets
Stephen Stapczynski Profile picture
Mar 21
Qatar agreed to work on supplying Germany with LNG
🇶🇦🤝🇩🇪

🚢Details are thin, but both countries agreed they would "re-engage and progress discussions on long term LNG supplies from Qatar to Germany"
🇷🇺 Germany seeks alternative to Russian pipeline gas

bloomberg.com/news/articles/…
“Now it’s up to companies to sign the contracts,” German Economy Minister Robert Habeck said

Germany’s challenge is finding short-term alternatives to Russian gas this year. The country doesn’t have any LNG import terminals

✈️ Germany's Habeck visited Doha on Sunday to talk LNG

“Qatar is in the process of increasing its gas extraction and we need more gas in the short term to replace Russian supplies,” Habeck said in his video. “That is what I discussed with the Emir and the energy minister"
Read 9 tweets
Stephen Stapczynski Profile picture
Mar 20
Japan’s foreign minister asked the United Arab Emirates to increase oil exports to help stabilise the market
🇯🇵 🙏 🇦🇪

🛢 Japan is the latest buyer to put pressure on OPEC+
📅 Foreign Minister Yoshimasa Hayashi spoke with Sultan al Jaber, head of Adnoc, on Sunday

#OOTT
🇦🇪 The UAE’s Jaber “expressed strong desire to support Japan including through the stabilization of the global crude oil market,” according to the statement from MOFA
Remember, another UAE official said this earlier in the month:

“We favor production increases and will be encouraging OPEC to consider higher production levels,” Yousef al-Otaiba, the UAE’s ambassador to Washington, said in a statement

bloomberg.com/news/articles/…
Read 6 tweets
Stephen Stapczynski Profile picture
Mar 20
Before the war in Ukraine, China was becoming more reliant on Russian energy, metal and crops
🇨🇳🤝🇷🇺

But relations have become more complicated in recent weeks, raising questions about future trade

Here’s how China’s trade with Russia may change 👇

bloombergquint.com/china/ukraine-…
Energy (1) ⚡️

Following the invasion, Chinese buyers, and the lenders that finance their purchases, have largely shunned Russian shipments of coal and LNG, as well as crude

While it likely temporary, it reflects companies’ deeper concerns about becoming ensnared in sanctions
Energy (2) ⚡️

China will likely expand imports of Russian LNG

But coal is different. Russian supply is a tiny fraction of what China consumes, and Beijing’s plan to raise the capacity of its coal industry suggests may be doing away with imports entirely

bloomberg.com/news/articles/…
Read 13 tweets

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