Who will Replace Russian Gas Supplies to Europe? - page 14.

bittraffic

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Quote from: Cryptock on June 04, 2022, 11:54:19 AM

Quote from: Rasa nanas on June 04, 2022, 08:30:59 AM

Quote from: 19Nov16 on June 01, 2022, 01:37:41 AM

The thing that makes Russia dare to invasion to Ukraine is that it has large oil and gas reserves, many European countries are very dependent on gas supply from Russia, if European countries are too strict in conducting economic embargo Being a big loss because to find a substitute for gas supply is very difficult and takes at least 3 years.

no, that's not the only reason. perhaps more precisely that is the reason why the Russian invasion is still continuing even though many countries have imposed economic sanctions on Russia. The main reason is because of the decision of the president of Ukraine who wants to join NATO and Russia considers that this decision is a decision that can threaten Russia's security.

The only country which is happy and strong is the one which has oil and gas.
My country is deprived of both oil and gas and hence in trouble and limbo. But Russia have defence too unlike Iraq and Iran so they can defend themselves.

Biden requested gas and oil middle east countries to produce for them but the leaders were not responding anymore to Biden. Due to Biden showing weakness, OPEC countries now have the gall to decline US. While they are not importing gas and oil though, their economy is also plummeting.
Saudis economy also depend on oil and gas imports. I think they were successful in negotiating Venezuelan gas.

Fascinating to see leaders in EU just shut their mouths while they suffer as US is still buying Russian gas to sell to EU.

Cryptock

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Quote from: Rasa nanas on June 04, 2022, 08:30:59 AM

Quote from: 19Nov16 on June 01, 2022, 01:37:41 AM

The thing that makes Russia dare to invasion to Ukraine is that it has large oil and gas reserves, many European countries are very dependent on gas supply from Russia, if European countries are too strict in conducting economic embargo Being a big loss because to find a substitute for gas supply is very difficult and takes at least 3 years.

no, that's not the only reason. perhaps more precisely that is the reason why the Russian invasion is still continuing even though many countries have imposed economic sanctions on Russia. The main reason is because of the decision of the president of Ukraine who wants to join NATO and Russia considers that this decision is a decision that can threaten Russia's security.

The only country which is happy and strong is the one which has oil and gas.
My country is deprived of both oil and gas and hence in trouble and limbo. But Russia have defence too unlike Iraq and Iran so they can defend themselves.

Rasa nanas

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Quote from: 19Nov16 on June 01, 2022, 01:37:41 AM

The thing that makes Russia dare to invasion to Ukraine is that it has large oil and gas reserves, many European countries are very dependent on gas supply from Russia, if European countries are too strict in conducting economic embargo Being a big loss because to find a substitute for gas supply is very difficult and takes at least 3 years.

no, that's not the only reason. perhaps more precisely that is the reason why the Russian invasion is still continuing even though many countries have imposed economic sanctions on Russia. The main reason is because of the decision of the president of Ukraine who wants to join NATO and Russia considers that this decision is a decision that can threaten Russia's security.

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Quote from: Sithara007 on June 01, 2022, 10:33:10 PM

Quote from: DrBeer on June 01, 2022, 04:13:41 PM

Denmark, becoming the next victim of economic terror, the most unstable supplier in the world, Russian Gazprom, made 2 important decisions:
1. Stop financing terrorists by buying gas from them
2. Will continue to increase gas production in the North Sea. There is such a possibility, reserves allow not only to compensate for the shortage, but also to provide additional volume to the EU market.
Take an example from Denmark - Denmark does not care about the tantrums of a crazy terrorist, Denmark is above this, Denmark is not a sponsor of terrorism!

All good, except the part on North Sea. Gas reserves from that region has been exploited for the last 50 years or so and are nearing exhaustion. I don't think that the oil and gas production from North Sea can be increased any further, even with advanced technology. BTW, I am curious about the financial repercussions. Replacing pipeline gas with LNG can be very costly. On top of that, LNG producers such as Qatar are coming up with a lot of terms and conditions, which may not be acceptable for all of the EU member states.

Firstly, Denmark does not have much dependence on Russian gas. Therefore, the increase in production can be used to compensate other countries.
Secondly, if you are talking about the depletion of a deposit, then do not forget to mention Russian deposits as well - the output there is also huge, and new ones cannot be developed, because. they lie already at a greater depth, but Russia does not have the technology, and now there is no where to buy them.
You can speculate about the price of LNG as much as you like, but there is a market, and there is demand, and there is a desire, I would say the need in the field of energy security, to replace such a dubious supplier as Russia. And I repeat once again - all this is a payment for flirting with world terrorists, and indulging and lobbying their interests by some countries. For all the mistakes and idiotic actions, sooner or later, you have to pay. I hope this will be a good, albeit very expensive lesson for the world.
Third, Qatar will still supply, everyone will have to make mutual concessions. But this will be a redistribution of the market, from where Russia will simply fall out forever, at least in the form of today's Russia.

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Quote from: bitgov on June 02, 2022, 02:25:21 PM

Quote from: Sithara007 on June 01, 2022, 10:33:10 PM

Quote from: DrBeer on June 01, 2022, 04:13:41 PM

Denmark, becoming the next victim of economic terror, the most unstable supplier in the world, Russian Gazprom, made 2 important decisions:
1. Stop financing terrorists by buying gas from them
2. Will continue to increase gas production in the North Sea. There is such a possibility, reserves allow not only to compensate for the shortage, but also to provide additional volume to the EU market.
Take an example from Denmark - Denmark does not care about the tantrums of a crazy terrorist, Denmark is above this, Denmark is not a sponsor of terrorism!

All good, except the part on North Sea. Gas reserves from that region has been exploited for the last 50 years or so and are nearing exhaustion. I don't think that the oil and gas production from North Sea can be increased any further, even with advanced technology. BTW, I am curious about the financial repercussions. Replacing pipeline gas with LNG can be very costly. On top of that, LNG producers such as Qatar are coming up with a lot of terms and conditions, which may not be acceptable for all of the EU member states.

My country is in so much trouble due to oil price hike.
the people are so much worried - that they have stopped going out - the industry is collapsing and everyone is in real trouble. May God bless us with this patrol crisis.

What makes it difficult is that rising oil prices have a domino effect and affect other increases,
things like that are certainly out of our control and it's definitely difficult to deal with it,
hope there will be good news and see oil price drop

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Quote from: bitgov on June 02, 2022, 02:25:21 PM

My country is in so much trouble due to oil price hike.
the people are so much worried - that they have stopped going out - the industry is collapsing and everyone is in real trouble. May God bless us with this patrol crisis.

That is the case everywhere, right? All of the oil and gas importing economies are in trouble and the trade deficit has gone up to unsustainable levels. Not just the prices of oil, gas and coal has gone up. As a result of the war, the prices of fertilizer, wheat and sunflower oil has also gone up. Here in India, 5 liter pack of sunflower oil used to cost ₹735 in February. Now it costs ₹1,049. The prices have gone up by 43% in just three months. And the prices of diesel and gasoline has also gone up by around 20% during the same period (it could have been higher, but the government asked PSUs to bear some of the burden).

bitgov

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Quote from: Sithara007 on June 01, 2022, 10:33:10 PM

Quote from: DrBeer on June 01, 2022, 04:13:41 PM

Denmark, becoming the next victim of economic terror, the most unstable supplier in the world, Russian Gazprom, made 2 important decisions:
1. Stop financing terrorists by buying gas from them
2. Will continue to increase gas production in the North Sea. There is such a possibility, reserves allow not only to compensate for the shortage, but also to provide additional volume to the EU market.
Take an example from Denmark - Denmark does not care about the tantrums of a crazy terrorist, Denmark is above this, Denmark is not a sponsor of terrorism!

All good, except the part on North Sea. Gas reserves from that region has been exploited for the last 50 years or so and are nearing exhaustion. I don't think that the oil and gas production from North Sea can be increased any further, even with advanced technology. BTW, I am curious about the financial repercussions. Replacing pipeline gas with LNG can be very costly. On top of that, LNG producers such as Qatar are coming up with a lot of terms and conditions, which may not be acceptable for all of the EU member states.

My country is in so much trouble due to oil price hike.
the people are so much worried - that they have stopped going out - the industry is collapsing and everyone is in real trouble. May God bless us with this patrol crisis.

Sithara007

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Quote from: DrBeer on June 01, 2022, 04:13:41 PM

Denmark, becoming the next victim of economic terror, the most unstable supplier in the world, Russian Gazprom, made 2 important decisions:
1. Stop financing terrorists by buying gas from them
2. Will continue to increase gas production in the North Sea. There is such a possibility, reserves allow not only to compensate for the shortage, but also to provide additional volume to the EU market.
Take an example from Denmark - Denmark does not care about the tantrums of a crazy terrorist, Denmark is above this, Denmark is not a sponsor of terrorism!

All good, except the part on North Sea. Gas reserves from that region has been exploited for the last 50 years or so and are nearing exhaustion. I don't think that the oil and gas production from North Sea can be increased any further, even with advanced technology. BTW, I am curious about the financial repercussions. Replacing pipeline gas with LNG can be very costly. On top of that, LNG producers such as Qatar are coming up with a lot of terms and conditions, which may not be acceptable for all of the EU member states.

DrBeer

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Denmark, becoming the next victim of economic terror, the most unstable supplier in the world, Russian Gazprom, made 2 important decisions:
1. Stop financing terrorists by buying gas from them
2. Will continue to increase gas production in the North Sea. There is such a possibility, reserves allow not only to compensate for the shortage, but also to provide additional volume to the EU market.
Take an example from Denmark - Denmark does not care about the tantrums of a crazy terrorist, Denmark is above this, Denmark is not a sponsor of terrorism!

bakasabo

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Quote from: 19Nov16 on June 01, 2022, 01:37:41 AM

The thing that makes Russia dare to invasion to Ukraine is that it has large oil and gas reserves, many European countries are very dependent on gas supply from Russia, if European countries are too strict in conducting economic embargo Being a big loss because to find a substitute for gas supply is very difficult and takes at least 3 years.

I think this is the false vision of Russian-Ukraine war situation. If you say that Russia invaded Ukraine only because they have huge amount of resources, then Russia could have started invasion of any other country. If the reason would be so simple, there will be only several countries left in the world, those who control huge resources supplies.

By looking on annual profit gas companies have, I have feeling that they will continue to buy gas directly from Russia for enormous price. Companies will use annual profit to provide discounts to gas consumers (citizens), letting them to catch breath from global price growth, letting them to adopt to new prices. And then start charging "normal" new gas price.

I saw that Germany is worried a lot about Russian gas. Which one is Germans leading gas company? Lets take GASAG for example. Their 2020 report shows 76 millions EUR EBIT. Each year their income increases for 5-10 millions. Why not spend it to cover price increase?

19Nov16

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The thing that makes Russia dare to invasion to Ukraine is that it has large oil and gas reserves, many European countries are very dependent on gas supply from Russia, if European countries are too strict in conducting economic embargo Being a big loss because to find a substitute for gas supply is very difficult and takes at least 3 years.

Sithara007

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Quote from: DrBeer on May 31, 2022, 05:08:01 PM

I agree ! India and China perfectly took advantage of the situation and "helped a friend" - they buy oil from Russia for a penny, which it cannot sell

life will become even better - Russia will sell oil to you for cents or for food

Well, what to do with it? The EU does not buy, most of the oil pipelines drove it to the EU.
And India and China will not play altruists and fill the Russian budget with the amounts that the EU is now carrying there. India and China are pragmatists and interested in their own benefit, so you will set the price of oil, not Russia! Soon you will have even lower costs for transport and other processes associated with the price of petroleum products. I am sincerely happy for you and for China that such a "compliant" oil seller came into your hands

Being an Indian, I don't think that the barrage of criticism that has been directed towards us is fair. The per capita income here is around 1/20th of the level that you have in the EU. A lot of people live in poverty. The residents in EU maybe able to afford an inflation rate of 10% per year, but for those in India that may sound like a death knell. We are interested in our survival (and not our benefit as you have mentioned). If the NATO wants us to stop purchasing Russian oil, then they should ask the OPEC and the American shale oil producers to increase the output, so that the crude oil prices fall to levels of $40-$50 per barrel which we had when Trump was in power.

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Quote from: Sithara007 on May 31, 2022, 10:14:08 AM

Quote from: YinShuiSiYuan on May 31, 2022, 08:43:57 AM

While usa is doing his best to stop countries from entering russia block by not allowing them to buy its gas and oil. India has made a good move for its people, in current inflation Indian government has reduced patrol price by 9.5 Indian rupee and diesel by 7 Indian rupee. Europe solution to fix its energy crisis lies in Russia gas.

Being a resident of India, I would say that this is true. Although I don't have accurate figures for import of LNG from Russia, various media sources have published the volume of imports of crude oil from that country.

Here is one source:
https://timesofindia.indiatimes.com/business/india-business/indias-imports-of-cheap-russian-crude-surge-since-ukraine-invasion/articleshow/91897107.cms

As per TOI, this is how the crude oil imports from Russia have zoomed up:

March 2022: 97,000 barrels per day
April 2022: 240,000 barrels per day
May 2022: 775,000 barrels per day
June 2022 (projected): 935,000 barrels per day

If I am not wrong, now India is the second largest importer of Russian crude (if EU is not taken as a single country). China is importing 2,000,000 barrels of crude per day from China, with around 1.1 million coming from oil tankers and the rest transported through pipeline.

I agree ! India and China perfectly took advantage of the situation and "helped a friend" - they buy oil from Russia for a penny, which it cannot sell

life will become even better - Russia will sell oil to you for cents or for food

Well, what to do with it? The EU does not buy, most of the oil pipelines drove it to the EU.
And India and China will not play altruists and fill the Russian budget with the amounts that the EU is now carrying there. India and China are pragmatists and interested in their own benefit, so you will set the price of oil, not Russia! Soon you will have even lower costs for transport and other processes associated with the price of petroleum products. I am sincerely happy for you and for China that such a "compliant" oil seller came into your hands

Sithara007

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Quote from: YinShuiSiYuan on May 31, 2022, 08:43:57 AM

While usa is doing his best to stop countries from entering russia block by not allowing them to buy its gas and oil. India has made a good move for its people, in current inflation Indian government has reduced patrol price by 9.5 Indian rupee and diesel by 7 Indian rupee. Europe solution to fix its energy crisis lies in Russia gas.

Being a resident of India, I would say that this is true. Although I don't have accurate figures for import of LNG from Russia, various media sources have published the volume of imports of crude oil from that country.

Here is one source:
https://timesofindia.indiatimes.com/business/india-business/indias-imports-of-cheap-russian-crude-surge-since-ukraine-invasion/articleshow/91897107.cms

As per TOI, this is how the crude oil imports from Russia have zoomed up:

March 2022: 97,000 barrels per day
April 2022: 240,000 barrels per day
May 2022: 775,000 barrels per day
June 2022 (projected): 935,000 barrels per day

If I am not wrong, now India is the second largest importer of Russian crude (if EU is not taken as a single country). China is importing 2,000,000 barrels of crude per day from China, with around 1.1 million coming from oil tankers and the rest transported through pipeline.

YinShuiSiYuan

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Quote from: Sithara007 on May 30, 2022, 10:26:31 PM

Keyboard warriors are coming up with all sort of scenarios to replace the Russian gas. What they don't understand is that designing and implementing new projects to extract natural gas may take many years. And even after that, there is no guarantee that the natural gas prices will remain high enough to make these profits profitable. And secondly, replacing pipeline gas with LNG can be very tricky. There is only a limited number of LNG tankers available. And the same can be said about the LNG terminals as well. In short, there is no quick fix solution.

While usa is doing his best to stop countries from entering russia block by not allowing them to buy its gas and oil. India has made a good move for its people, in current inflation Indian government has reduced patrol price by 9.5 Indian rupee and diesel by 7 Indian rupee. Europe solution to fix its energy crisis lies in Russia gas.

Sithara007

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Quote from: Majestic-milf on May 30, 2022, 03:42:24 PM

I don't think I see a fit substitution in the works. Tbh, Russia is one the largest suppliers of oil to the West and they know this. Should I call this act a form of retaliation for imposing sanctions? I think not. Probably this is a wake up call for the US. I think Iran, Canada, The UK and even Norway or Denmark could be considered to fill in the blanks in the meantime.

Keyboard warriors are coming up with all sort of scenarios to replace the Russian gas. What they don't understand is that designing and implementing new projects to extract natural gas may take many years. And even after that, there is no guarantee that the natural gas prices will remain high enough to make these profits profitable. And secondly, replacing pipeline gas with LNG can be very tricky. There is only a limited number of LNG tankers available. And the same can be said about the LNG terminals as well. In short, there is no quick fix solution.

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Quote from: Zlantann on March 02, 2022, 09:50:44 AM

There are suspicions that Russia might fight back by shutting gas supply to the West. Some sources confirmed that the US is already in talks with Qatar to become Russia’s substitute.

But Qatar and other oil and gas producing nations confirmed that they will not be able to provide substantial amounts of gas to replace Russia’s supply.

African countries have been tipped as the best option because the continent has some of the world’s deepest gas reserves. But Africa might not replace Russia because of insecurity and lack of infrastructures.

Who will replace Russia?

https://www.aljazeera.com/economy/2022/3/1/analysis-can-african-gas-replace-russian-supplies-to-europe

I don't think I see a fit substitution in the works. Tbh, Russia is one the largest suppliers of oil to the West and they know this. Should I call this act a form of retaliation for imposing sanctions? I think not. Probably this is a wake up call for the US. I think Iran, Canada, The UK and even Norway or Denmark could be considered to fill in the blanks in the meantime.

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Quote from: pooya87 on May 29, 2022, 11:02:35 PM

Quote from: Sithara007 on May 29, 2022, 09:36:29 PM

And oil prices remained at around $40 per barrel level throughout his term, because he removed the unnecessary regulations. When Biden came to power, the first thing he did was to impose additional restrictions on the shale oil producers.

Oil price is a double edged sword for US*, a lower price oil means lower costs for consumers hence less inflation** but also that means there is little justification for the highly expensive shale oil extraction that could even reduce the production and increase US dependency on imports.
A higher oil price on the other hand means it makes financial sense for oil exploration and extraction for oil companies in US. But that also increases consumer costs contributing to inflation.

* It is not entirely the same elsewhere since oil extraction in lets say West Asia is easier and doesn't need the same amount of effort it needs in US so the production cost is always far lower.
** Although inflation is affected by a lot of things like the trillions of dollars that were all minted during Trump administration!

Quote from: Sithara007 on May 29, 2022, 09:36:29 PM

And within 2 years, not only the US, but countries around the world are staring at sky high inflation rates and costly utility bills.

Not all countries face the same problems. For example we are mass exporting oil, gas, petrol, ... at the much higher prices but our domestic price of these things have not changed. My gas bill is the same as it was 5 years ago.

Earlier because of Covid and now because of Ukraine and Russia war. The wheat and gas crisis is going to leave footprint throughout the globe.
I am very much worried because my income is dropping and inflation in my region is uncontrollable.

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Quote from: Sithara007 on May 29, 2022, 09:36:29 PM

And oil prices remained at around $40 per barrel level throughout his term, because he removed the unnecessary regulations. When Biden came to power, the first thing he did was to impose additional restrictions on the shale oil producers.

Oil price is a double edged sword for US*, a lower price oil means lower costs for consumers hence less inflation** but also that means there is little justification for the highly expensive shale oil extraction that could even reduce the production and increase US dependency on imports.
A higher oil price on the other hand means it makes financial sense for oil exploration and extraction for oil companies in US. But that also increases consumer costs contributing to inflation.

* It is not entirely the same elsewhere since oil extraction in lets say West Asia is easier and doesn't need the same amount of effort it needs in US so the production cost is always far lower.
** Although inflation is affected by a lot of things like the trillions of dollars that were all minted during Trump administration!

Quote from: Sithara007 on May 29, 2022, 09:36:29 PM

And within 2 years, not only the US, but countries around the world are staring at sky high inflation rates and costly utility bills.

Not all countries face the same problems. For example we are mass exporting oil, gas, petrol, ... at the much higher prices but our domestic price of these things have not changed. My gas bill is the same as it was 5 years ago.

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Quote from: mm2543363580 on May 29, 2022, 11:15:19 AM

Now I feel trump administration was far better than Biden administration.
There are news coming from Sri Lanka and Pakistan - particularly Pakistan, that they have serious trouble with Biden administration. I think Trump America was a better America.

Trump is a businessman and he knows how to keep the economy afloat. During his 4-year term, he made sure that the industries doesn't close down and move their operations abroad. He was quite successful in doing that. And oil prices remained at around $40 per barrel level throughout his term, because he removed the unnecessary regulations. When Biden came to power, the first thing he did was to impose additional restrictions on the shale oil producers. And within 2 years, not only the US, but countries around the world are staring at sky high inflation rates and costly utility bills.

Topic: Who will Replace Russian Gas Supplies to Europe? - page 14. (Read 5523 times)