European natural gas prices are up more than 40% this month 🇪🇺 (Even though they’re far below the record high levels from last year)

Gas production problems send European prices to the highest in nearly two months 🇳🇴📈 ⚠️ Outages at Norwegian plants extended into July 👉 The move illustrates how traders are on edge even as inventories are fuller than normal & industrial demand muted

More details on Shell's refocus on gas and LNG here 👇👇👇

SHELL DOUBLES DOWN ON NATURAL GAS 💰⚠️ 👀 Shell to boost gas output as its new CEO refocuses on fossil fuels that drove record profit in 2022 👉 The new strategy puts oil & gas at the center while giving lower-return, low-carbon efforts a smaller role

This investment is important for a few reasons 👉 It cements Total as one of the world's top LNG suppliers 👉 Adds much more flexible US LNG supply to the market from 2027. NextDecade's Rio Grande export project will likely move forward (FID is expected by end of 2Q)

Total had been looking to invest in a US LNG export plant for a while 🇺🇸❤️ Back from 2019: Total agreed to invest $500 million in the Driftwood facility in the US, and take about 1 mtpa of LNG and raise its stake in Tellurian (That deal didnt pan out)

France's Total makes major investment in a US LNG export project 🇫🇷🤝🇺🇸 💰 Total takes a 16.67% stake in the 1st phase of the Rio Grande LNG in Texas, and invest in the plant's developer 🚢 Total will buy 5.4 million tons/year 🇪🇺 This is a landmark deal to secure LNG for Europe

Outage in Norway pushes gas prices in Europe (and likely Asia) to the highest level in a month …. just as Pakistan returns to the market in an attempt to buy more affordable LNG (Still, there is a near-term glut of LNG. Prices could fall again before tender closes next week)

Japan’s nuclear power output set to hit a post-Fukushima high this year 🇯🇵 ☢️ 👀 Two additional reactors (Takahama 1 and 2) could restart this year. Together, that would be most reactors online since 2011 🚢 That will help Japan reduce imports of fossil fuel, like LNG

Weak LNG demand in North Asia (home to the biggest importers) is helping to free-up supply for price-sensitive buyers, like Pakistan LNG spot prices are down more than 80% from August

I explain why the market will be closely monitoring these Pakistan LNG tenders 👇 There is far more LNG supply available compared to last year. So Pakistan’s tender /should/ receive offers from suppliers If Pakistan buys LNG again, it indicates the energy crisis is easing

UPDATE: Pakistan also wants to buy six LNG cargoes from the spot market for Oct-Dec delivery 🇵🇰🚢 👀 Pakistan looks to buy a whole bunch of LNG now that prices are more affordable ⚠️ The big test will be whether suppliers participate in the tenders. No one joined a year ago...

@staunovo @sstapczynskl Thank you sir

If Pakistan is able to get offers AND buys the spot shipments, then that would symbolize a huge turning point for the energy crisis 🚨🚨🚨 It would mean that even the most cash-strapped nations can afford LNG again, easing domestic shortages This tender will be closely watched

Pakistan wants to buy LNG for the first time in roughly a year after a drop in spot prices 🇵🇰⚠️ 📝 Tender if for Jan.-Feb cargoes 🚢 Pakistan hasn't purchased spot LNG since May 2022 due to high prices, credit risks 🤔 Still not clear if supplier will want to sell to Pakistan

CAN THE IMPERSONATOR MAKE QUALITY CONTENT LIKE THIS?

Hello, this account isn’t me! @sstapczynskl Please block and report I guarantee that its LNG memes won’t be as good as mine

Germany may be forced to shut its industries if Ukraine’s gas transit agreement with Russia isn’t extended, warns Habeck 🇩🇪 🏭 🇷🇺Russia-Ukraine gas transport agreement due to expire next year 🚢 Additional LNG import terminals will be necessary, he said

Shell joins a growing list of companies, like Chevron, which forecasts strong long-term demand for natural gas — rather than a shorter-term role as a transition fuel to cleaner energy sources 👀 🚢

Shell sees a long-term role for natural gas in the world’s energy mix 🚢 ♥️ 🇨🇳 The company believes gas isnt just a “transition fuel,” and aims to expand business in China & India ☀️ This comes as Shell demands better profits from its renewables business

I got a new USB stick #MMBTU

Japan, the US and Europe are hoping to catch up using small modular reactors

Russia and China are cementing their influence in the nuclear power industry, with the countries accounting for ~70% of reactors under construction or in planning worldwide 🇷🇺 🇨🇳 ☢️ Meanwhile, construction plans in Japan, the US and Europe are stalling

“The phasing out of Russian gas will happen sooner or later even without having any explicit language in that regard,” the vice-president of the European Commission for interinstitutional relations Maros Sefcovic told ICIS 👆 These aren’t comments of an official set on a ban