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https://freedium.cfd/https://shankar20.medium.com/if-gazprom-needs-15-years-and-a-lift-off-by-china-to-recover-how-long-will-moscow-need-904c9ee8f41f>
'It happened twice.
In two months.
In April, a gas leak at Equinor's Hammerfest LNG plant in Norway caused
European gas prices to spike. This Monday, European natural gas prices reached
their peak for the year following an outage at Norway's Nyhamna gas processing
plant.
When Norway sneezes, Europe catches a cold.
In a hurry to replace Russian gas following the Kremlin's decision to use
Gazprom as a weapon of war, Europe turned to Norwegian gas. At its peak, Russia
supplied around 35% to 40% of Europe's gas. Fast forward to today, and Norway
accounts for nearly 30% of Europe's gas market.
One Norwegian company, Equinor, is doing the bulk of the heavy lifting. "Of the
more than 109 billion cubic meters of natural gas Norway exported to Europe
last year — enough to power Germany until 2026 — roughly two-thirds was
marketed and sold by Equinor."
To this very day, I find it hard to believe that the fate suffered by Gazprom
is entirely of its own making. Russia's leading gas producer, a company that
once sat at the top of the world and that Russia once proudly said would be its
first trillion-dollar company, tried to participate in Putin's war against
Ukraine by manipulating its gas supplies.
They choked gas supplies to Europe as the Kremlin weaponized gas, trying to
keep Germany and other nations under pressure to stay away from helping Ukraine
in the first year of the war. They purposely kept storage low and threatened to
cut off supplies. At one point, they did stop the supply entirely.
Instead of throwing Ukraine off the trail, Germany and other European nations
threw Gazprom off the trail. Alternatives were found. Substitutes came into the
mix. Storage units became top priority items. The once choked gas supply to
Europe never recovered. By 2023, no one in Europe was dependent on Russian gas,
and no one wanted Gazprom to supply them.
A study conducted by Gazprom says it will be 2035 before they recover, needing
at least a decade, provided they find alternative buyers. It was a sobering
indictment of the Kremlin's policy to use gas and Gazprom as a weapon of war.
They did, and now they are paying the price.'
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
