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No such thing as a global gas price. Natural gas pricing is regional as it cannot be easily transported.
by thoughtstheseus 3y ago
No such thing as a global gas price. Natural gas pricing is regional as it cannot be easily transported.
- Aloha 3y agoAustralia exports 41% of its gas.
- sundaeofshock 3y agoUS exported 6.9 trillion cubic feet of natural gas in 2022. https://www.eia.gov/energyexplained/natural-gas/imports-and-exports.php https://www.eia.gov/energyexplained/natural-gas/imports-and-...
- Retric 3y agoYea at rather insane prices due to the Ukraine war. In 2022 the US imported 3 trillion CF, exported 6.9 trillion cubic feet, and extracted 43.8 trillion CF. By comparison in 2015 we only exported 1.8 trillion CF.
- beeboobaa 3y agoAlso known as "the price" for anyone who doesn't sit on massive gas deposits
- nroets 3y agoThe article says nothing about the cost of shipping gas across the globe. It only says 44% of exports are by pipeline. If shipping makes it an order of magnitude more expensive, then there is no global price.
- defrost 3y agoOrder of magnitude? Large (not ultra large) oil tankers might carry 200,000 tonnes and consume 25 ton of heavy bunker fuel per day. LNG gas carriers equally have their own stats. This is something you can (or at the very least should be able to) back of envelope estimate ... https://www.planete-energies.com/en/media/article/transporting-oil-sea https://www.planete-energies.com/en/media/article/transporti... https://en.wikipedia.org/wiki/W%C3%A4rtsil%C3%A4-Sulzer_RTA96-C https://en.wikipedia.org/wiki/W%C3%A4rtsil%C3%A4-Sulzer_RTA9... Now you just need mean trip times, profit margin, etc. and you're away. Order of magnitude addition to costs, though, sounds a little extreme.
- pama 3y agoOnce the pipe is built, the maintenance cost is very low, much lower than maintaining and using a tanker.
- sundaeofshock 3y ago“Europe remained the main destination for U.S. LNG exports in December, with 5.43 MT, or just over 61%. In November, 68% of U.S. LNG exports were to Europe, LSEG data showed.” Of course there is a global market for all fossil fuels. https://www.reuters.com/business/energy/us-was-top-lng-exporter-2023-hit-record-levels-2024-01-02/#:~:text=Europe%20remained%20the%20main%20destination,to%20Europe%2C%20LSEG%20data%20showed https://www.reuters.com/business/energy/us-was-top-lng-expor....