Back To Business -- June 21, 2022

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
• DVN now pays nearly 9%
• 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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