GREY:MGMCF - Post by User
Post by
JR5on Jan 03, 2009 1:39pm
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Post# 15679928
Natural Gas Cartel-update
Natural Gas Cartel-updateEnergy companies in several European countries reported seeing no drop in supplies as a result of the Russian move against Ukraine. A similar cutoff in 2006 resulted in gas shortages in several parts of Europe, but analysts said most countries have enough gas stockpiled this time to last several days without Russian gas. Russia supplies a quarter of the gas that Europe uses, and most of it is delivered through Ukrainian pipelines.
Bet liquified tanker shipments will be diverted to Europe with few if any deliveries to the U.S.. Imagine if Cantrel field in Mexico starts falling off in the near future. Add the conversion of electric utiliities in Ontario to natural gas from coal and there could be a very tight market in the near future. Looking forward to Monday and some news from up north!
Cheers,
JR.