Europe fears extended shutdown as Russia halts gas flows to Germany (cnbc.com)

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Europe is bracing for an extended shutdown of Russian gas supplies as maintenance work begins on the Nord Stream 1 pipeline that brings gas to Germany via the Baltic Sea.

Operator Nord Stream AG confirmed the work, which is scheduled to run from Monday through to July 21, got underway as planned Monday morning. Russian gas flows via the pipeline are expected to drop to zero later in the day.

The Nord Stream 1 pipeline is Europe's single biggest piece of gas import infrastructure, carrying around 55 billion cubic meters of the fuel per year from Russia to Germany.

Europe fears the suspension of deliveries could be extended beyond the 10-day timeline, derailing the region's winter supply preparations and exacerbating a gas crisis that has prompted skyrocketing energy bills for households and emergency measures from policymakers.

It comes as European governments scramble to fill underground storage with gas supplies to provide households with enough fuel to keep the lights on and homes warm during winter.

The EU, which receives roughly 40% of its gas via Russian pipelines, is trying to rapidly reduce its reliance on Russian hydrocarbons in response to President Vladimir Putin's monthslong onslaught in Ukraine.

Klaus Mueller, the head of Germany's energy regulator, believes the Kremlin may continue to throttle Europe's energy supplies beyond the scheduled end of the maintenance work.

"We cannot rule out the possibility that gas transport will not be resumed afterwards for political reasons," Mueller told CNBC last week.

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Trump should have someone tweet this gif for him to Germany this morning.

Those German pansies at the UN that laughed at him should be strung up and hung from bridges this winter in Berlin if their citizens begin to freeze to death.

What did they expect when they acted tough and imposed sanctions on Russia? The USA will be in trouble if OPEC and China decide to impose sanctions on the west. Thanks democras. fjb!!!!

Pretty much everyone alive only knows a world where the US makes sure all the basics are provided for. This era of deglobalization is going to be painful for a lot of people.

He tried to warn them. Leftists always have to learn the hard way ... but they never learn.

Hopefully there's a backup source for the steam crackers...

The problem is our elected and unelected "leaders" are trying to do the same with the US.

At least no gay communists were rounded up & put in camps


We're all very lucky to have cornpop as the state appointed president

So this is where things get tricky for the US.

Do we send energy to Europe to backfil their demand while supply is being artificially constrained at home? We are, in fact, already doing this by sending SPR supply out. The problem is that is not unlimited. When it either runs dry or we stop thr flow to maintain some reserves, anything that will be sent will be part of our supply we're using.

Which will cause prices to spike even higher. Biden has already stated this will be the cost to fight Putin. And maybe it'll be a good thing as voters will be seething mad in Nov. Veto proof R majority in the House and Senate will be required to undo the disaster that the Ds have been.

When people are bleeding they will not care about guns or abortion if it means they can't feed their families, buy power or get to work.

Biden has put himself between 2 hard places and he's not competent enough to find a way out.

As with everything Biden does, the Russian sanctions are now backfiring.

Problem is, if we send more to Europe we will suffer. Easy gix, open up more leasing, approve new drill sites, invest in O&G. But we all know that wont happen.

My Name Is Judge said:

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At least no gay communists were rounded up & put in camps

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Not only were they not put in camps, one of them was given a cabinet position heading up the DOT

Sanctions are fine. Most of Europe made a very bad bet in buying O&G (and coal) from Russia who they view as an existential threat. Imagine how dumb you have to be to believe that and then tie your economy to your greatest foe. Putin sucked them in by dangling cheap energy. Now he has them on the hook.

This is why I think countries will be forced to put boots on the ground in Ukraine. Defend them, help them rebuild and develop their O&G sector.

But that's a decade worth of work.

Germany got too big for their britches: grandstanding about cutting off Russian gas without a viable alternative. Looks like Russia calling their bluff.

AlaskanAg99 said:

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So this is where things get tricky for the US.

Do we send energy to Europe to backfil their demand while supply is being artificially constrained at home? We are, in fact, already doing this by sending SPR supply out. The problem is that is not unlimited. When it either runs dry or we stop thr flow to maintain some reserves, anything that will be sent will be part of our supply we're using.

Which will cause prices to spike even higher. Biden has already stated this will be the cost to fight Putin. And maybe it'll be a good thing as voters will be seething mad in Nov. Veto proof R majority in the House and Senate will be required to undo the disaster that the Ds have been.

When people are bleeding they will not care about guns or abortion if it means they can't feed their families, buy power or get to work.

Biden has put himself between 2 hard places and he's not competent enough to find a way out.

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I was under the impression this is natural gas, not gasoline. That would make it less painful for us to ship as we have a lot more natural gas available than we do oil and refined product.

Wonder if these smug idiots are still laughing at Trump?

Do we have excess NG to send? New wells aren't being drilled.at scale to back fill multiple countries worth of demand.

FJB has stated repeatedly he intends to destroy O&G industry.

Ag87H2O said:

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He tried to warn them. Leftists always have to learn the hard way ... but they never learn.

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The problem is that every one of these learning experiences is punctuated my millions of corpses. Of course the new guy, is so much smarter that he is bound to get it right this time. The science is settled.

I've looked but have never found the names of the people in that delegation. I'm sure they are all still gainfully employed by the German/EU tax payers, but does anyone know where/who they are?

nortex97 said:

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I've looked but have never found the names of the people in that delegation. I'm sure they are all still gainfully employed by the German/EU tax payers, but does anyone know where/who they are?

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It'd be a shame if a conservative organization offered a reward for their home/office addresses and notifications when they go out in public. The location of their spouses and children would also come in handy for some heartbroken Germans that are burying their loved ones this winter.

AlaskanAg99 said:

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Do we have excess NG to send? New wells aren't being drilled.at scale to back fill multiple countries worth of demand.

FJB has stated repeatedly he intends to destroy O&G industry.

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Depends on what you call excess. Domestic natural gas prices are currently double what they were prepandemic, and last I checked the futures, that was expected to continue at least through early 2023. If you haven't renewed your residential electric agreement recently, prepare your butts. But if you like O&G as a driver of the economy and free market capitalism, that comes with the territory. Exporting LNG means we are all more tied to international prices than ever, and prices in Europe are at crazy highs.

can anyone explain why WTI and Brent crude both fell bigly today?!?!

12thAngryMan said:

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AlaskanAg99 said:

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Do we have excess NG to send? New wells aren't being drilled.at scale to back fill multiple countries worth of demand.

FJB has stated repeatedly he intends to destroy O&G industry.

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Depends on what you call excess. Domestic natural gas prices are currently double what they were prepandemic, and last I checked the futures, that was expected to continue at least through early 2023. If you haven't renewed your residential electric agreement recently, prepare your butts. But if you like O&G as a driver of the economy and free market capitalism, that comes with the territory. Exporting LNG means we are all more tied to international prices than ever, and prices in Europe are at crazy highs.

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I renewed in Feb @.10/kwh for 24 months. Was a 25% hike and I was pissed, but now I'm pretty relieved.

As global supply is hit we will pay more if tied to global markets. No way around that.

Get Off My Lawn said:

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Germany got too big for their britches

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Lederhosen

LMCane said:

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can anyone explain why WTI and Brent crude both fell bigly today?!?!

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Just a guess but maybe the market believes that we are headed for a deep recession.

AlaskanAg99 said:

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Do we have excess NG to send? New wells aren't being drilled.at scale to back fill multiple countries worth of demand.

FJB has stated repeatedly he intends to destroy O&G industry.

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If only the reverse would take place.

titan said:

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AlaskanAg99 said:

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Do we have excess NG to send? New wells aren't being drilled.at scale to back fill multiple countries worth of demand.

FJB has stated repeatedly he intends to destroy O&G industry.

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If only the reverse would take place.

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Recession, stockpiles being higher than thought, and covid surge impacts, in no particular order. Biden's sort of an afterthought at this point as most expect him to be forced to resign in the next year.

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Russia cuts all gas to Germany today for 'maintenance'.

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The problem isn't getting the NG, its liquefying it for transport. Our gas is somewhat stranded... which in a way is good for us, because otherwise our prices would level with global ones -- our price goes up, global price goes down.

LMCane said:

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can anyone explain why WTI and Brent crude both fell bigly today?!?!

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If bigly you mean -0.76%, then I don't know what to tell you.

TexasAggiesWin said:

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Wonder if these smug idiots are still laughing at Trump?

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Replace Russia with China and Germany with USA.

How do you think our smug idiots will still be laughing when the retail store and grocery store shelves run bare?

TexasAggiesWin said:

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Wonder if these smug idiots are still laughing at Trump?

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I wonder if these idiots know how many laughs the American right has had at their expense.

MuchosPollos said:

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TexasAggiesWin said:

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Wonder if these smug idiots are still laughing at Trump?

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Replace Russia with China and Germany with USA.

How do you think our smug idiots will still be laughing when the retail store and grocery store shelves run bare?

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Let's not overstate China's position. They make a lot of things we should make for ourselves like tylenol and advil and a hell of a lot of clothes but they don't make much of the actual food we consume. Retail stores will struggle pretty badly but not the grocery stores. Fact is we're the world's #1 food exporter and they're the world's #1 food importer. China will not start a war with us either hot or cold because it's a recipe for half of a billion starving citizens sitting in the dark plotting to overthrow Xi and the CCP. China has little in the way of leverage here.

AlaskanAg99 said:

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So this is where things get tricky for the US.

Do we send energy to Europe to backfil their demand while supply is being artificially constrained at home? We are, in fact, already doing this by sending SPR supply out. The problem is that is not unlimited. When it either runs dry or we stop thr flow to maintain some reserves, anything that will be sent will be part of our supply we're using.

Which will cause prices to spike even higher. Biden has already stated this will be the cost to fight Putin. And maybe it'll be a good thing as voters will be seething mad in Nov. Veto proof R majority in the House and Senate will be required to undo the disaster that the Ds have been.

When people are bleeding they will not care about guns or abortion if it means they can't feed their families, buy power or get to work.

Biden has put himself between 2 hard places and he's not competent enough to find a way out.

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The out for Biden is to say we're at our max export capacity to Europe, so we're doing what we can. Then throttle back approvals for any new / reactivated infrastructure allowing more natural gas exports.

This way he doesn't have to be the bad guy holding back natural gas to keep prices low in america. Honestly, I expect republicans / democrats in office would use the same tactic.

DallasAg 94 said:

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nortex97 said:

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I've looked but have never found the names of the people in that delegation. I'm sure they are all still gainfully employed by the German/EU tax payers, but does anyone know where/who they are?

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The guy with his fist on his face is Heiko Maas.

The current Minister of Foreign Affairs is a woman named Annalena Baerbock. Not sure if that is her in the background. I don't think so.

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LOL, he also led the "Berlin Energy Transition Dialogue" in 2021. Damn, looks like he is retired now. What a shame. Jennifer Granholm and John F Kerry (who oh by the way served in Vietnam and Cambodia and has a semi-secret green beret an SF soldier gave him from his combat duty) added more no-doubt wonderful insights as speakers.

He really was the most snarky of the chuckling cast of nazi's, imho. Also, listen to him here talk about how it's all about a global shift in power, security, and food/water (start around 4:45):



Germany wants to reduce emissions 50% by 2030? They are more than doubling this year! Way to go, stud!