ββ#ForexChief #LNGimports #forexnews #BritishFutures #EnergyCrisis #RussianGas #stock #worldnews β
π₯ There is too much gas in Europe now. We buy at a discount!β
π LNG imports to NW Europe are close to a quarterly record with three UK terminals full. In the summer, surplus gas from the UK is usually pumped to the continent, but pipelines in the EU are not designed for such a volume. There is simply nowhere to store this raw material.
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Such a high discount on the Β«freshestΒ» British futures compared to the Dutch contract (the European benchmark) has not been offered since 2011, and the price difference will only grow.
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For several months now, gas prices in the UK and continental Europe have been high due to low inventories. Against this background, LNG supplies from Asia to Europe have intensified, and the list of suppliers is diverse: from the USA and Qatar to Algeria and Peru.
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UK is not directly dependent on Russian gas imports. The country also receives gas from inland offshore fields and through pipelines from Norway and the EU, so it weathers the energy crisis more easily than other countries in the region.
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However, Britain closed its largest fuel storage facility back in 2017, and now the massive growth in supplies is causing serious infrastructure problems. Now Spain is ready to accept excess volumes for regasification, but such transportation also takes time.
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In the meantime, European consumers are actively looking for schemes in which it will be possible to avoid Russia's requirements to make payments in Russian rubles, the current price prefers to consolidate in the zone of quarterly lows. So we catch a good moment for BUY.
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Profits to yβall!