Gas supply crunch

[adam2]

Natural gas was at 337 pence a therm when London markets closed this evening. Some way short of the all time records, but still the highest for some months. This is also about TEN times the historical average for Summer.
I think that a panic is developing, both in the EU and in the UK.

[clv101]

Europe's energy supply is critical for this winter. This isn't a situation that's just going to blow over. There will be major problems, beyond just eye-watering prices.

[adam2]

Europe's energy supply is critical for this winter. This isn't a situation that's just going to blow over. There will be major problems, beyond just eye-watering prices.

I agree.
There seem to be a lot of generators being installed locally, and oil tanks. And stockpiling of logs, coal and other fuels.

I have very little faith in our government taking any effective actions in an emergency, no matter whom may be in charge by then.

[automaticearth2]

Europe's energy supply is critical for this winter. This isn't a situation that's just going to blow over. There will be major problems, beyond just eye-watering prices.

I agree.
There seem to be a lot of generators being installed locally, and oil tanks. And stockpiling of logs, coal and other fuels.

I have very little faith in our government taking any effective actions in an emergency, no matter whom may be in charge by then.

I'm in the process of getting my multi-fuel stove serviced for the coming winter. The person doing it said he's seeing demand for new installations the likes of which he's never seen before. I've managed to get a decent supply of wood (untreated pallet offcuts), heat logs, and various forms of patent mineral fuels and coal for the coming winter. I wouldn't be surprised if we start seeing some form of unrest from the 1st October.

[adam2]

"Further cut in Russian gas to EU" https://www.bbc.co.uk/news/business-62291458

[adam2]

EU announces plans to restrict gas consumption, but with a get out clause for those countries that are particularly reliant on gas.
https://www.bbc.co.uk/news/business-62305094

[adam2]

Cold showers in public buildings in Hanover, and other energy saving measures.
https://www.bbc.co.uk/news/world-europe-62335911

[adam2]

Russia cuts gas supplies to Latvia, https://www.bbc.co.uk/news/world-europe-62359890

[kenneal - lagger]

Russia cuts gas supplies to Latvia, https://www.bbc.co.uk/news/world-europe-62359890

Perhaps someone should send Russia a copy of "How To Win Friends And Influence People" or are they past that stage now?

[adam2]

Russia cuts gas supplies to Latvia, https://www.bbc.co.uk/news/world-europe-62359890

Perhaps someone should send Russia a copy of "How To Win Friends And Influence People" or are they past that stage now?

I think that they have the soviet version. "How make enemies by threatening people"

And BTW, natural gas yesterday closed at over 400 pence a therm, another new record for this time of year, though some way short of the highest ever prices achieved earlier in the year.

I wonder how high it will go in the coming winter ? My guess is that 600 pence a therm will be the normal or typical price this winter, with the odd spike or short term surge to 1000 pence a therm.

Anyone else care to make a prediction ?

[kenneal - lagger]

Better check our propane bottles and order now if necessary.

[adam2]

I would ensure ample propane supplies, well before winter. Propane is not DIRECTLY affected by the present natural gas panic, but shortages of most any fuel are possible.

[adam2]

Russia announces a three day shutdown of the nordstream 1 gas pipeline for "maintenance"
https://www.euractiv.com/section/energy ... to-europe/

I expect delays in re-opening, despite the timely reopening after the last such shutdown.

[PS_RalphW]

Ng spikes to record? 560pence, 20% up on the day.

[clv101]

It's not really about the price any more, it clear there isn't enough to meet anything like 'normal' demand this winter. These arbitrarily unaffordable (certainly for any energy or CH4 feedctock intensive industry) prices are just a crude means to allocate what limited supply there is.

Society at large still isn't taking this winter's shortage seriously.