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Tuesday, November 29, 2022

Another Open-Book Test For Investors: COP - Qatar Sign Off Fifteen-Year Deal To Supply Germany With LNG Starting In 2026 -- November 29, 2022

Conversion

Link here:

COP/Qatar to deliver:

  • two billion tonnes = 17,746,228,927 boe
  • 17,746,228,927 / 365 = 48,619,805 boepd
  • rounding 50 million boepd

Germany consumption:

  • Germany used 100 billion cubic meters of natural gas in 2021
  • 100 billion / 365 = 273,972,603 cubic meters / day
  • rounding = 300 million cubic meters / day
  • one cubic meter = 0.4049 tonnes
  • 273,972,603 x 0.4049 = 110,931,507 tonnes / day
  • 110,931,507 tonnes = 984,307,959 boe

So, assuming the math is correct, feel free to fact-check:

50 million boepd / 984,307,959 boepd = 4.9%.

That seems reasonable
. Now why could the journalist not have done this? We always get these articles without context, or denominators.

Updates 

Later, 11:54 a.m. CT, November 29, 2022, link here:

Original Post


I may have to re-think my "new money allocation" plan. See below.

To review:

  • a rolling 30-year horizon
  • new money allocation (slight change in past few weeks):
    • 35%: Buffet, blue-chip; dividend-paying;
      • current favorites: DE, CAT
      • more AAPL only when below $155 / share
    • 30%: beaten-down tech (mostly semiconductors)
    • 20%: energy (mostly oil; those with announced focus on shareholder return)
    • 10%: mRNA (mostly Big Pharma)
    • 5%: Daimler (might be considered part of Buffett, blue-chip)
  • invest new money twice a month regardless of overall market conditions
    • first week of the month
    • third week of the month

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.  

COP / Qatar: 15-year deal to supply Germany with LNG.

The deal, the first of its kind to Europe from Qatar's North Field expansion project, will provide Germany with 2 million tonnes of LNG annually, arriving from Ras Laffan in Qatar to Germany's northern LNG terminal of Brunsbuettel.
"(The agreements) mark the first ever long-term LNG supply agreement to Germany, with a supply period that extends for at least 15 years, thus contributing to Germany's long-term energy security," Saad al-Kaabi said in a joint news conference with ConocoPhillips CEO Ryan Lance.

Favorite two words in that press release: "at least."

COP today: 

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