In the article it shows a graphic that the Russian LNG imports to Europe massively increased in 2019 and then more or less stayed the same. How is this explaining the current backlog of tankers?
Edit: The head-line (from the Financial Times… oh the irony) is intentionally misleading as there was a drop of imports during 2020/2021 (due to the pandemic most likely) and a recovery to a slightly higher than previous levels in 2022.
For the record: those extra tankers come from shitty places like Quatar and the US and I think we should also not buy gas from there.
The backlog of tankers is explained by the fact that there are very few LNG terminals available. Last I checked, Germany is just building terminals as we speak. What the article shows is that, LNG that Europe buys is still largely coming from Russia, except now it’s being sold at a far higher price than pipeline gas.
For the record: those extra tankers come from shitty places like Quatar and the US and I think we should also not buy gas from there.
The reality is that you can’t just change your energy production overnight. If Europe wanted to be energy independent then it should have been investing into meaningful energy infrastructure that’s not reliant on external energy sources.
Lack of LNG terminals can’t explain full gas storage and prices on the spot market for gas falling into the negative as tankers trying to sell their gas can’t find people to buy it (as was the case last month).
Oh and the article explicitly mentions Russian LNG making up 16% of the LNG imports in Europe, how is that “still largely coming from Russia”?
Yes, it obviously can. Your LNG storage can hold a limited amount of fuel. This amount is not meant to replace the flow of pipeline gas. Yet, it’s not possible to fill past that amount. Hence, ships are stuck and trying to dump LNG by any means they can. It’s kind of amazing how little you seem to understand about the situation here.
Oh and the article explicitly mentions Russian LNG making up 16% of the LGN imports in Europe, how is that “still largely coming from Russia”?
Oh well my bad then, some of Russian LNG is being repackaged by India and China whilethe rest comes from US at even higher price.
In the article it shows a graphic that the Russian LNG imports to Europe massively increased in 2019 and then more or less stayed the same. How is this explaining the current backlog of tankers?
Edit: The head-line (from the Financial Times… oh the irony) is intentionally misleading as there was a drop of imports during 2020/2021 (due to the pandemic most likely) and a recovery to a slightly higher than previous levels in 2022.
For the record: those extra tankers come from shitty places like Quatar and the US and I think we should also not buy gas from there.
The backlog of tankers is explained by the fact that there are very few LNG terminals available. Last I checked, Germany is just building terminals as we speak. What the article shows is that, LNG that Europe buys is still largely coming from Russia, except now it’s being sold at a far higher price than pipeline gas.
The reality is that you can’t just change your energy production overnight. If Europe wanted to be energy independent then it should have been investing into meaningful energy infrastructure that’s not reliant on external energy sources.
Lack of LNG terminals can’t explain full gas storage and prices on the spot market for gas falling into the negative as tankers trying to sell their gas can’t find people to buy it (as was the case last month).
Oh and the article explicitly mentions Russian LNG making up 16% of the LNG imports in Europe, how is that “still largely coming from Russia”?
Yes, it obviously can. Your LNG storage can hold a limited amount of fuel. This amount is not meant to replace the flow of pipeline gas. Yet, it’s not possible to fill past that amount. Hence, ships are stuck and trying to dump LNG by any means they can. It’s kind of amazing how little you seem to understand about the situation here.
Oh well my bad then, some of Russian LNG is being repackaged by India and China whilethe rest comes from US at even higher price.