This is a story about how LNG producers went through the five stages of grief, before accepting the market will be oversupplied and adjusting their trading strategies accordingly.
The five stages of grief are: denial, anger, bargaining, depression and acceptance.
Blockchain technology may be approaching the business mainstream as its most well-known application – cryptocurrency — made the July cover of Forbes magazine, but the application is still closer to the back page for the oil and gas sector. Continue reading
European energy traders association Efet has called for more flexible Italian gas storage rules, and September could be a good time to test this idea.
Italy could struggle to meet consumption during planned Tag pipeline maintenance on 25-29 September, unless LNG imports are high or storage withdrawals are permitted.
This is the third in a series of blogs using data from Argus Data and Downloads, which are available to Argus Direct subscribers here.
European LNG supply has risen to the highest in recent years, but when looking at the breakdown of sendout by country it is much too early to call it a “wave”.
The increase so far this summer has come from countries mostly outside the liquid hubs of northwest Europe. Instead of being dumped in northwest Europe, LNG has been competing with Algerian pipeline gas in Italy and Spain.
This is the second in a series of blogs using data from Argus Data and Downloads, which are available to Argus Direct subscribers here.
Yesterday’s blog analysed the recent increase in Russian producer Gazprom’s exports to Europe, despite weaker prices. But it is not only Gazprom that has an unorthodox supply curve — you and I do too.
There are some similarities to the backward bending labour supply curve. People at first try to work more as wages go up, but once income reaches a certain level they will start cutting hours to free up leisure time.