#oilembargo short thread (1/7)

Content:

- Ban on seaborne crude and products by end of the year (2/3 EU supply)
- pipeline exemption, to be revised with unclear timeline
- guarantees for HU in case of pipe disruption
- insurance included, shipping services not included Comments

The Družba exemption met a lot of criticism but isn't the big part of the story, as Družba north countries (DE,PL) will align with end of year ban. VDL says ban hits 90% of supplies. Question: beside Hungary, what will other Družba south countries (SK,CZ) do?2/7

1.#Turkmenistan is undergoing a presidential succession. Despite the isolation imposed by geography and its political system, this country has played an important role in Eurasian energy politics. A recapping thread 👇apnews.com/article/russia… 2.Through the lenses of Turkmen energy history, one can trace 30 years of shifts in international politics including the USSR collapse, the US unipolar moment, the war on terror, Russia’s resurgence (well…) and China’s rise.

For months of skyrocketing prices we were gaslighted by the "it's underinvestment in fossil fuels, it's the fault of wind energy" narrative while Russia was deliberately undersupplying the EU and leaving Gazprom storage facilities in Europe empty as a preparation for war. When Fatih Birol pointed at the anomaly of Gazprom's commercial behaviour, loads of media and expert reacted like "leave Russia alone, it's all about your silly climate scenario"

1. In occasion of Putin’s visit to Beijing, a major gas deal was finalized between Russia and China,portrayed as a sign of consolidation of relations between revisionist powers.But energy-wise, there is more than meets the eye. Thread. reuters.com/world/asia-pac… 2.First the deal.Gazprom and CNPC signed a deal to annually supply 10 bcm of Russian gas from the Sakhalin 3 fields to China via a pipeline connecting the domestic Sakhalin-Vladivostok pipeline to the main Power of Siberia trunkline. (source: Gazprom)

1.IEA’s chief Birol sparked intense debate by accusing Russia of orchestrating the current gas supply crunch in Europe. But why would Russia do that? A (long) thread ft.com/content/668a84… 2.First some background. There are two drivers through which Russia has influenced gas prices in Europe: the levels of storage in Gazprom’s facilities in Europe, and the level of spot sales to European markets

Italy's MFA undersecretary Di Stefano announces IT government intends to double TAP capacity to 20 bcm, also considering supplies from Turkmenistan "in the future"
Mentions 2 important caveats
- market tests (so far, not so good)
- Azerbaijan additional supplies (who knows?) Interestingly, the undersecretary(M5S) does not mention EastMed/Poseidon. M5S sided with local protests against TAP in the past, and may have reservations to support a project that implies another pipeline landing on the same territory. Something an expansion of TAP doesn't need.