Top energy story today: a report that anti-fossil fuel Biden-Granhalm administration is asking XOM to expedite its Golden Pass LNG export terminal in Sabine, TX. Absolutely huge; more below.
Trending: on my Twitter energy feed --
- it's all about the European energy crisis
- Europeans in crisis mode
- will now do everything to conserve natural gas going into winter
- why all the interest in coal? to conserve natural gas
- quick reading suggests Russian not letting up on squeezing Europe
- indications Russian ploys are working
- it's back to coal for Germany, Austria, the Dutch, and likely, the UK
- Germany committing to long-term LNG contracts with US
- Groningen to shake again;
- if I read this correctly
- currently, 4.5 bcm produced in CY 2022
- was to completely end by end of year, CY 2022
- will now target 2.8 bcm for production year ending October, 2023
- Dutch will also remove a cap on production at Dutch coal plants
Investors: usual disclaimers apply
- OPEC producer says there exists a $30-war premium on the price of oil
- tea leaves: if truce called, sanctions on Russia will fall faster than Biden's polling
- oil has fallen so far many companies now at accidental high yields
- AMZN: interesting analysis over at SeekingAlpha
- US oil demand: finally, we're going to see a jump
- anticipate: Biden to announce Federal gas tax holiday before July 4th
- the gas tax holiday will come too late to save the GDP number for 2Q22
- having said that, Obama has aid such a holiday -- the gas tax holiday, not the July 4th holiday -- is a "gimmick"
Oil demand: even if demand falls, is that bad for US oil stocks? Just asking.
Domestic LNG
- US asking XOM to expedite Golden Pass LNG
- RBN Energy, October 2, 2018;
- note: Golden Pass scheduled for 2025
- September 2, 2021:
- Reminder: how the shale revolution changed things. Link here. Or go directly to this link at Gulf Times:
- the first liquefaction train of the Golden Pass LNG liquefication and export terminal in Sabine, Texas, a $10bn joint-venture formed by Qatar Petroleum and ExxonMobil, is scheduled to come online by 2024;
International LNG: huge story -- the huge new Qatar export terminal
- now, XOM joins the partnership.
- others: COP, Eni, and TotalEnergies
- this expansion, previously announced, will increase Qatar's LNG capacity to 110 million metric tons / year vs 77 million currently
- memo to self: find Texas/Louisiana LNG export capacity once Golden Pass on line
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First Day Of Sailing School
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