Daily Energy Report:Spain is a gas gate for the EU, but also the backdoor for Russian LNG.
During the first eight months of this year, Russian LNG supplies to Spain soared 62%, reaching 5 bcm up from 3.1 bcm for the same period last year (Figure 5). Spain’s growing appetite for Russian LNG pushed up its share to 19.7% of total imports until the end of August this year, from 10.9% in 2022. The EOA previously estimated that Spain, as well as other EU member states, will find it difficult to halt Russian gas supplies. Stopping imports of Russian gas under current market conditions would put additional pressure on Europe to secure its gas needs.
Spain enjoys a secure gas supply network thanks to its diversified supply routes, seven operating LNG terminals, and robust storage facilities, allowing it to become a gas hub for Europe in the future as the continent curbs its dependence on Russian gas. For now, however, Spain is acting as a back door for Russian LNG flows into Europe.
DER is a good newsletter, consider subscribing.
If Canada and the US were allowed to live up to their potential on petroleum products (and refining same)…we could conceivably price the Russians out of the market (not to mention OPEC). The EU would have sufficient natural gas and petroleum reserves to improve their consumer confidence….while Russia’s markets would fall off a cliff in just about every capacity.
Instead, pipelines are cancelled. ANWR is cancelled…and we’re lamenting over cow farts.
Forgot to add that we’re choking to death on our own overgrown forestry everywhere as trees have more rights than you…
Hardest hit is the COLON!
666
In related news: Russia supplied the U.S. nuclear industry with about 12% of its uranium last year, according to the U.S. Energy Information Administration. Europe reported getting about 17% of its uranium in 2022 from Russia.
Reliance on nuclear power is expected to grow as nations embrace alternatives to fossil fuels.
https://www.voanews.com/a/putin-profits-off-us-and-european-reliance-on-russian-nuclear-fuel-/7220368.html#:~:text=Russia%20supplied%20the%20U.S.%20nuclear,embrace%20alternatives%20to%20fossil%20fuels.
Ukraine military is now trying to walk back the comments of their demented homo freak spokesthingy:
https://www.zerohedge.com/political/ukraines-american-trans-spox-picks-fight-us-senator-jd-vance
@DCH
There are several of pedo-globalist supporters right here that will lose thier minds and take up the torch if Sarah-Ashton-Cirillo is suspended over this (even if it’s temporary). They’ve been parroting his/her comments for over a year now and know all the chants from memory.
https://rumble.com/v3hqmhg-american-transgender-sarah-ashton-cirillo-is-the-official-speaker-for-the-u.html
As Justin said, there is no business case for shipping N. gas to Europe. (/sarc.off)
Around this area
The Law of Unintended Consequences strikes again!
“Lesson Of The Day: Sanctions Don’t Work Because They Create New Markets”
https://www.zerohedge.com/geopolitical/lesson-day-sanctions-dont-work-because-they-create-new-markets