Global pressure to reduce carbon emissions is hard to imagine. But that may be the case, with UK natural gas prices hitting higher, and U.S. prices more than doubling this year, and the highest since 2008.
“The current energy crisis is a catastrophic overhaul of the VV epidemic, which is mainly due to the accumulation of stocks,” said Sanjeaban Sarkar, a commodity editor at the Economist Intelligence Unit (EEU).
He said natural gas prices in Europe, high demand from the summer, and low power from wind turbines have increased demand for natural gas. Those natural gas stocks are “all destroyed.”
October 5, UK Natural Gas Future GWMZ21,
At 302.84 Pence Thermos jumped high, and NGX21, the future of US natural gas;
It cost $ 6.31 per million British homes, the highest since December 2008. Russian President Vladimir Putin announced on October 6 that his country would improve its supply to Europe, and prices for both standards fell slightly.
According to RP Reddsh, leader of the SDP Global Plates Analysis, they are “looking at economic products to convert natural gas” to “avoid natural gas.” Energy-intensive industries, such as primary steel producers, want to “flip between coal and gas, or gas and various petroleum products.”
“Energy-intensive industries, such as the first-generation steel mills, are known as “coal and [natural] Gas, or gas and various petroleum products ””
EUU’s Sarkar, which expects its share of natural gas in electricity generation to fall by 8.3% this year, to 35% this year, and 34% by 2022, said high prices have already hurt the country’s natural gas. “The role of renewables is increasing.”
Liquid natural gas, or LNG, and oil are substitutes for natural gas, but LNG is now more expensive in terms of fuel, and “it is cheaper to burn oil in power plants than in natural gas,” says Anas Anashaji, an independent energy exporter. It also manages a partner in Energy Outreach LLC.
With a shortage of energy around the world, “factories and people use it privately [power] Generation, ”which uses crude oil and diesel, which indicates an increase in demand for petroleum products.
Coal has also become more expensive, with prices reaching record highs in Europe at 5 metric tons at 295.05, and coal exports to Northeast Asia at $ 156.59 per metric, rising by 97 a year earlier. , Reviewed by S&P Global Platts on October 6th.
“Coal prices in Asia have risen to the highest level in Asia,” said Andre Lambin, a senior analyst at European gas and energy analysts at S&P Global Platts.
Regarding coal, China has “adjusted the pace of recent inflation,” said Kepler, a senior commodity economist, according to Kepler. Million metric tons in August.
He said that in the seven districts that published data in the lowest quarter of August 2018, “little has been done to keep pace with domestic demand.”
In India, high prices have led to a sharp decline in coal prices in recent months, Iansen said, but storage levels indicate a sharp decline, indicating strong consumption.
Higher prices for NGN, natural gas, and coal encourage the conversion of petroleum alternatives such as crude oil into fossil fuels. [million British thermal units] Basically, no matter what the scope of this conversion process, it remains an open question. ” This is especially true in Pakistan and Bangladesh, where the cost of LNG purchases has increased.