David Sheppard
@OilSheppard
Financial Times Energy Editor. Oil. Environment. Middle East. Trading. Hearts. Ex-Reuters.
London
Joined September 2009
Worldwide trends
Tweets
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Pinned TweetScotland has been transformed in the last 50 years by the black gold pouring out the North Sea. But as voters prepare to go to the polls next month are we witnessing the first ‘post-oil’ election? Me with
@NathalieThomas3 for this week’s FT Magazine -
David Sheppard RetweetedGazprom marketing— - We don't have enough gas, we need to refill our own storage. - OK, we have gas, but you need a long-term contract. - OK, yes, we sell spot, but Ukraine didn't offer us good, firm capacity. - Right, fine, we will sell more but you should be nicer to us.
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David Sheppard RetweetedOur analysis shows that the impact of lack of wind on gas deficit has been limited. Large nuclear and coal closures have rather made the European system far less flexible, limiting its ability to switch away from gas, when needed or to allow for gas markets rebalancing.
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David Sheppard RetweetedPutin says accusations Gazprom is using energy as a weapon are "politically motivated blather" – but hints that if the EU wants more gas, it's going to have to play by Russia's rules. by me and
@OilSheppard: -
CNBC cuts from Putin interview to get the inflation reading out of the US. I guess that means Putin is more powerful than Larry Fink but not the dollar
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Patrick Pouyanne of France's TotalEnergies, says he too would like to see more long-term pricing of gas to restore "stability", effectively echoing Putin's view. Worth noting Total has a huge position in Russian gas, but will be interesting to see how his comments play in Paris
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Putin says it would be an exaggeration to say the Angela Merkel is not blaming Russia for anything, given divergent views in many areas. But on NS2 he says Merkel has always agreed with him that the pipeline is a commercial and not a political project
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Putin tells the CNBC interviewer
@_HadleyGamble that she's "a beautiful woman but that she's not listening to what he says" which is about as grim as it sounds She handles it well but FFS. 2021. -
Putin says Russia is supplying gas volumes above its contracted amount to Europe, including LNG. Blames US LNG suppliers (private companies) for selling to Asia instead of Europe due to higher prices
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Putin says Russia is not using gas as a weapon. Blames the US for delaying Nord Stream 2 pipeline and what he calls "politically motivated blather"
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Vladimir Putin says high gas prices may have negative effects on producers as well as consumers - but says consumers need to meet them in the middle
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Putin attacking intermittency in the renewable sector, blaming low wind speeds in Europe this summer for the rise in gas prices (UK wind is back to providing 20-40% of electricity supplies... but gas prices are still at same level)
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Fair to say this is a view shared by many in the oil and gas industry. I doubt it will attract much public sympathy, but for people that have dedicated their career to the sector I can understand why it stings.Replying to
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Fossil fuel industry feels IEA have contributed to projections for tight supplies by pulling rug out from under industry while oil/gas demand is still rising Governments yet to show real commitment to cutting demand at the consumer level, given it might cost votes. Fun times
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Which is likely to annoy everyone at the same time, even if he’s not necessarily wrong
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IEA chief saying on current trajectory we’re heading for both a supply crisis in fossil fuels, with huge ramifications for the global economy, and also going to miss the Paris targets. Governments need to get serious about fossil fuel demand + filling supply gap with renewables
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One of the largest zinc producers in Europe is cutting production by up to 50% because of high energy costs
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David Sheppard RetweetedJust for fun... ("fun") In August the UK economy was 13% smaller than its pre-financial crisis trajectory (early 90s recession up to early 2008)
