U.S. energy transition hits workforce shortage
FedEx cuts parcel deliveries on falling demand
India considers temporarily lifting solar tariffs
Europe’s mild winter increases drought threat
EU regulator launches LNG price assessment
Plastics boost petroleum consumption ($BBG)
Chesapeake’s recovery after insolvency ($WSJ)
U.S. electricity price volatility
Quantum computing ($FT)
EUROPE’s gas inventories are rapidly nearing a record high for the time of year following warmer than normal temperatures and reductions in industrial consumption. EU28 inventories were 937 TWh on January 9 closing in on the seasonal record of 944 TWh set in winter 2019/20.
Stocks were +247 TWh (+36% or +2.37 standard deviations) above the prior ten-year seasonal average up from a surplus of +92 TWh (+10% or +0.86 standard deviations) at the start of the winter season on October 1. The storage surplus is still increasing.
Inventories are projected to reach a post-winter low of 591 TWh with a probable range of 460 TWh to 749 TWh. If that proves correct, storage facilities would end the winter 52% full, with a likely range from 41% to as much as 66%:
JKempEnergy.com 