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$LNG, $GLNG, $FLNG -- Europe is facing a complex energy crisis as current data shows that storage levels are significantly lower than in previous years. This scarcity is exacerbated by a shrinking pool of uncontracted LNG amid Middle East conflict.

21,904 views • 6 months ago •via X (Twitter)

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"The last time a major LNG project was developed in this country was 42 years ago, that was a Nigeria LLG project." Nigeria's gas sector has recorded a major breakthrough with the advancement of the $3 billion UTM Floating LNG (FLNG) Project, unlocking stranded offshore gas resources and strengthening the country's drive for industrial growth and energy security. Key Highlights: - The project secured a 15-year gas supply agreement, clearing the path for a Final Investment Decision (FID) expected later this year. - It is Africa's first indigenous-led Floating LNG (FLNG) project, fully developed by a Nigerian company. - The project represents Nigeria's first major LNG development in over 40 years, since the launch of the Nigeria LNG project. - The initiative aligns with President Bola Ahmed Tinubu's gas development agenda, with officials crediting the administration's policy direction for unlocking the project. - A joint venture between NNPC Limited and Seplat Energy will supply 200 million standard cubic feet of gas per day under the 15-year agreement. - The FLNG facility will produce 1.8 million tonnes of LNG annually, monetising stranded gas from the Yoho Field. - About 30% of production, equivalent to over 300,000 metric tonnes of LPG annually, will be supplied to Nigeria's domestic market to support the Federal Government's clean cooking initiative. - The project is expected to generate billions of dollars in revenue, create thousands of jobs, and deepen local participation in the oil and gas industry. - Financing for the project is being led by African Export-Import Bank, which has also provided preparatory funding and is coordinating debt and equity financing. - Project promoters disclosed that the investment is oversubscribed, attracting strong interest from global energy traders and investors, including companies from the Middle East. - The project further demonstrates the growing capacity of indigenous Nigerian companies to deliver large-scale energy infrastructure while positioning Nigeria as a key supplier of LNG to regional and global markets.

Daddy D.O🇳🇬

29,183 views • 2 months ago

EUROPE STORAGE CRASHES TO 28%: THE 2026-27 WINTER BLACKOUT LOOMS LARGE Europe entered the 2026 injection season with gas storage at critically low levels after a harsh winter. The sudden closure of the Strait of Hormuz has triggered a global LNG supply shock that wiped out roughly 20 percent of worldwide trade flows. Official outlooks now warn that Europe cannot refill its tanks in time and faces a brutal winter ahead. THE STORAGE SHOCK ➡️ EU gas storage stood at just 28 percent full on April 1 2026 matching pre-2022 crisis levels. ➡️ By late May it has only recovered to 35 to 37 percent still 13 to 15 points below seasonal norms. ➡️ The working gas deficit sits at a massive 15 to 20 billion cubic meter hole below five-year averages. THE HORMUZ SUPPLY SHOCK ➡️ The Iran conflict closed the Strait of Hormuz since late February removing Qatar’s entire 112 billion cubic meter annual LNG output. ➡️ This represents a sudden 17 to 20 percent effective cut to global LNG supply with Asia competing fiercely for every remaining cargo. ➡️ Europe which imported a record 146 billion cubic meters of LNG in 2025 now needs 40 to 56 billion cubic meters more just to survive the summer. THE REFILL MATH NIGHTMARE ➡️ ENTSOG calculates that hitting the 90 percent storage target requires 86 billion cubic meters of LNG imports during April to September. ➡️ Equinor states Europe is unlikely to reach even 80 percent storage and Dutch TTF prices could spike toward 90 euros per megawatt hour. ➡️ Weak and often negative summer to winter price spreads of around 1.3 euros per megawatt hour are killing the financial incentive to inject gas now. THE WINTER 2026-27 OUTLOOK ➡️ Entering winter at only 70 to 80 percent full would leave the EU with a far thinner buffer than any year since the original crisis. ➡️ Stress tests show real risks of shortfalls especially during any cold snap with no Russian pipeline gas left as backup. ➡️ The fallout includes sustained high prices industrial curtailments energy poverty spikes and significant GDP damage across the continent. THE BOTTOM LINE Europe is staring down a perfect storm worse than 2022 in every critical way with historic low starting storage a sudden 20 percent global LNG chokepoint loss and failing market signals that discourage exactly the injections needed most. Without immediate Hormuz reopening or aggressive demand destruction the continent risks rationing and its most painful energy squeeze since the original crisis began. This is the sound of Europe’s vaunted resilience being pushed to its absolute limit. $EQNR #EuropeEnergyCrisis #HormuzShock #GasStorageLow #LNGSupplyCut #WinterEnergyRisk #TTFSpike #EnergySecurity

Mark

22,542 views • 3 months ago