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Europe may have a way out of the shortage of herbal fuel if the winter is colder than usual. garage facilities, energy consultancy Wood Mackenzie said this week.
However, the operation of this fuel for mattress would not be easy due to technical and regulatory problems. In general circumstances, mattress fuel cannot be removed from garage amenities or a component of the operating fuel volume (WKV), WoodMac notes.
However, the more than two months have shown that the European fuel market is still experiencing “normal circumstances”.
The lowest point of stored fuel in a decade just before winter drove herbal fuel costs to record levels last month. Prices also rose due to the lack of another Russian source besides Gazprom’s contractual obligations. they are still tripling until the beginning of 2021.
Earlier this week, Wood Mackenzie warned that “a bloodless European winter may lead to garage grades dropping to 0 until the end of March 2022, unless you have more Russian fuel materials compared to existing export grades. “
WoodMac recommended an option to mitigate the tightening that could be released up to
Typically, those volumes deserve not to be edited because they may just be the long-term functionality of garage sites and because the fuel belongs to garage operators who are unable to sell fuel under existing regulations.
“However, with the point of fear that exists in the market and the exceptionally high costs that come with it, those are not general times. If the WGV were close to zero, governments have to give in on regulation if they need to keep the heating on,” said Graham Freedman, senior analyst at Europe Gas Research, Wood Mackenzie.
“We perceive that it is imaginable to use up to 10% of the cushion fuel, or quasi-functional fuel as it is infrequently called, within the technical tolerances of each facility,” Freedman added.
According to WoodMac, ten percent of the 150 billion m3 of cushion fuel in Europe would theoretically produce 15 billion m3 of fuel on the adjusted market.
However, European policymakers may see technical and regulatory issues as too wonderful a barrier to exploiting buffer gas.
Related: Oil Rally Reverses on Cooling Demand Signals
Russian President Vladimir Putin has promised that more fuel will be delivered to Europe from Nov. 8, when Gazprom is expected to fill Russia’s storage, but this week, fuel deliveries fell as a key pipeline from Russia to Europe reversed flows from west to east. .
After several days of decline, herbal fuel costs in major European and British hubs rose again this week, after fuel flows on the Yamal-Europe gas pipeline reversed the east-west direction through Germany.
This contrary lasted six days between Saturday and Thursday afternoon, when the fuel began to return to Germany, which caused a decrease in fuel prices in Europe.
Some analysts and EU member states such as Poland accuse Russia of fuel and power as a weapon to continue exerting influence in the European fuel market and forcing Europe to settle for what it wants for the questionable Nord Stream 2 gas pipeline, which awaits regulatory approval in Germany.
The Kremlin, Putin and all Russians deny those accusations and point the finger at Europe’s energy and fuel policies over the next decade.
All eyes are now on the European fuel market to see if Russia’s Gazprom would stick to Putin’s order to stockpile fuel in its workshops in Austria and Germany.
“If Russia does what Putin said it would do, then there will be wonderful relief,” Frank van Doorn, vattenfall’s industry chief in Sweden, told Bloomberg in an interview at the Flame fuel and LNG convention in Amsterdam this week. there will be no more fuel on Monday, we may see a significant increase in prices,” van Doorn said.
By Tsvetana Paraskova for Oilprice. com
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