• 3 minutes Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 5 minutes CoV-19: China, WHO, myth vs fact
  • 8 minutes Question: Why are oil futures so low through 2020?
  • 11 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 8 hours “The era of cheap & abundant energy is long gone. Money supply & debt have grown faster than real economy. Debt saturation is now a real risk, requiring a global scale reset.”"We are now in new era of expensive unconventional energy
  • 40 mins Question - What if there are no buyers for Chevron's Appalachia Assets?
  • 8 mins Blowout videos
  • 10 hours Energy from thin air?
  • 14 hours OIL trades as if the virus is a 1 quarter event. As if it's Containable, Reversible and Temporary. Is it ?
  • 1 day Hey NYC - Mayor De Blasio declares you must say goodbye to fossil fuels. Get ready to freeze your Virtue Signaling butts off.
  • 3 hours Can LNG Kill Oil?
  • 1 day Fast-charging, long-running, bendy energy storage breakthrough
  • 1 day Foxconn cancelled the reopening of their mfg plants scheduled for tomorrow. Rescheduled to March 3rd. . . . if they're lucky.
  • 2 days "For the Public's Interest"
  • 16 hours Coronovairus, Phase One Agreement, Lower for Longer
  • 2 days Cheap natural gas is making it very hard to go green
Chinese Refinery Run Rates Fall To 6-Year Low

Chinese Refinery Run Rates Fall To 6-Year Low

Chinese oil refiners have cut…

Oil May Be Down But It’s Certainly Not Out

Oil May Be Down But It’s Certainly Not Out

After five bearish weeks for…

UK Exports its own Cheap Gas, whilst Importing Expensive Foreign Gas

UK Exports its own Cheap Gas, whilst Importing Expensive Foreign Gas

An analysis of gas flow in and out of the UK, performed jointly by the Guardian and Greenpeace, has shown that Britain more often than not exports its cheap gas to Europe, whilst at the same importing more expensive gas from Qatar to be used domestically.

Ofgem, the energy watchdog, has suggested that this behaviour could undermine the UK’s energy security.

The focus of the study was the gas interconnector between the UK and Belgium, where more than 40% of the time between December 2011 and October 2012, the gas was flowing the ‘wrong way’. Over 15 times more gas was exported to the continent than imported, despite that demand and wholesale prices were higher in the UK.

Related article: US Breweries go to War against Fracking Industry

Leila Dean, from Greenpeace, stated that “the gas market has once again been revealed as a dark and murky world George Osborne's dash for gas won't lower bills – it'll leave consumers even more open to exploitation.”

The cause of this ‘flow against price difference’ (FAPD) is unknown, but the concept has been around since 2004 when the UK switched from a net gas exporter to a net gas importer. The North Sea natural gas production decreased, and in order to increase the energy security and make foreign supplies more readily available, pipelines were opened to Norway and the Netherlands, and new LNG terminals were constructed. The whole natural gas market around the UK became very complex, far quicker than regulations could be written to control the sector and keep some semblance of transparency.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage


Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News