• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 8 days America should go after China but it should be done in a wise way.
  • 1 day Even Shell Agrees with Climate Change!
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 4 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 3 days World could get rid of Putin and Russia but nobody is bold enough
  • 6 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
Mysterious Power Outage Paralyzes Tajikistan

Mysterious Power Outage Paralyzes Tajikistan

Tajikistan experienced a significant power…

EU Natural Gas Prices Climb As Cold Front Sparks Surge In Demand

After an above-average autumn in Europe, winter weather has finally arrived. 

Ahead of the cold blast, we said on November 22 that "Europe's First Major Cold Snap Of The Season Is Imminent." Then last week, we pointed out," 'Greenland Block' Could Pour Arctic Air Across EU In First Proper Test Of Power Grids.

The unseasonably cold weather has spread across northwest Europe and the UK and is forecasted to stay in place through the month's midpoint. 

Dutch TTF natural gas futures, the benchmark European contract, jumped as much as 9.2% on Monday morning on this news. 

"That's testing the continent's ability to withstand this winter without normal flows from its former top gas provider, Russia. Only Iberia and the south of Europe are spared from the frigid weather for now," Bloomberg said, citing a report from forecaster Maxar Technologies Inc.

Europe's warm autumn allowed the continent's NatGas storage facilities to fill to 95% by mid-November. In recent weeks, injections into storage have switched to the draws as the heating season begins. 

Meanwhile, the number of liquefied natural gas (LNG) tankers idling off Europe, waiting for regasification terminals, has significantly decreased by 30% from this year's high, according to data from S&P Global Commodity Insights. That's causing concern that supplies could become an issue if winter is severe.


Warmer weather allowed the continent to refill NatGas storage tanks well above target levels. There's a chance Europe could survive the energy crisis if this winter season is mild. If cold snaps became more prevalent, the continent's storage levels could quickly deplete. 

By Zerohedge.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News