France Imports Russian LNG

Highlights of the Podcast

00:00 – Intro

01:10 – French Terminals Import Record Volumes of LNG From Russia

02:58 – Germany Rejects Vessel Carrying Russian Arctic LNG, But Continues Indirect Imports Via EU Neighbors

04:12 – Texas looks into expansion of nuclear energy

06:22 – How Trump’s Energy Plan Could Actually Benefit the Environment

10:34 – Markets Update

14:45 – Outro

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Video Transcription edited for grammar. We disavow any errors unless they make us look better or smarter.

Michael Tanner: [00:00:10] What’s going on, everybody? Welcome into the Tuesday, November 19th, 2024, edition of the Daily Energy News. Beat Stand up. Here are today’s top headlines. First up, French terminals import record volumes of LNG from Russia. Next up, Germany rejects vessel carrying Russian Arctic LNG, but continues indirect imports via EU neighbors. Don’t look at what we’re doing over here. Just look at this hand over here. Well, finally will come. States like Texas looks to expansion of nuclear energy. Go Texas. Finally, how Trump energy plan could actually benefit the environment. Interesting. They’re still within tosser of me. I will quickly wrap up with covering what happened in oil prices today and really with the close of earnings, that’s really all we’ve got today. So we will let you guys get out of here early, obviously. I am Michael Tanner, joined by Stuart Turley. Where do you want to begin? [00:01:09][58.9]

Stuart Turley: [00:01:10] Okay, Let’s start with our buddies over there. And French speak French. French terminals import record volumes of LNG from Russia. France is importing record volumes of Russian LNG as overall LNG purchases are falling. Ship tracking data compiled by Bloomberg showed on Monday. Michael. Watch what we do over here. German shipments into the French term of Dunkirk have surged, in particular to help deliveries of German State Farm securing energy for Europe. You got to love this. This is an important story. Russian LNG accounting for 20% of the EU’s LNG imports in the first nine months of 2024. So they’re going o not do a pipeline. They’re going to dig LNG. I love it. [00:01:57][47.5]

Michael Tanner: [00:01:57] Well, it’s a classic. Don’t look at what I’m doing over here. Look at what I’m doing over here. But it’s all the shell game, unfortunately. I mean, you have to get your energy from somewhere, so. And you don’t want to pay exorbitant prices for it. You want to find the most economical choice possible. So it makes sense that they’re going to come over here and say, well, we’re not directly importing, but we’re going to go ahead and buy from another country that’s importing from Russia. So, you know, at least India has the has the gall to just be like, now we’re buying from Russia. [00:02:26][28.2]

Stuart Turley: [00:02:26] Sorry, and have a good day. [00:02:27][1.5]

Michael Tanner: [00:02:28] Yes, absolutely. This does this does point out at the end of the article here, I’m from Oilprice.com that Russian LNG does account for about 20% of all of EU’s LNG imports for the first nine months. They’re in 2024 and that’s compared to 14% last year. So it is up despite the ban. [00:02:46][18.2]

Stuart Turley: [00:02:46] That’s right. And when you consider that we talked about having Chancellor Short, I see nothing. I see nothing yesterday. We know what he’s he’s calling Putin. Hang on a I need some gas. So. All right let’s go to Germany. Speaking of chancellor results, Germany rejects vessel carrying Russian Arctic LNG but continues indirect imports. This is really kind of a continuing theme over here that we just talked about. Russian LNG may not be critical to European natural gas supply. Again, I guess it’s one of those things you end up with some Russian gas in your pipeline supply, but it’s another to actually unload a shipment of Russian LNG from a Russian vessel into a German terminal for your point. So we don’t want receipts. We we don’t mind the molecules. We don’t want receipts. Yeah. [00:03:37][50.8]

Michael Tanner: [00:03:38] Absolutely. I mean, they don’t it’s absolutely crazy. Indirect Russian gas flows still. [00:03:45][6.7]

Stuart Turley: [00:03:46] Yeah. Come on, man. Michael, I’ve said this. We’re going to see an end to the war. The Ukraine war is a crime scene. We’re going to see an end to it, and they’re going to start buying Russian natural gas. Yeah, well, it’s all. [00:03:57][11.3]

Michael Tanner: [00:03:57] Well, unless unless Ukraine starts lobbing long these long range missiles into Russia. [00:04:02][5.5]

Stuart Turley: [00:04:03] They’re just dry. Let’s go to. Yeah, that one just breaks my heart. I mean. [00:04:07][4.1]

Michael Tanner: [00:04:09] All right, what’s next? Let’s come stateside here. What’s tax is doing? [00:04:11][2.5]

Stuart Turley: [00:04:12] Let’s go to Texas. Love me some texas at taxes looks into expansion of nuclear energy. A group studying possible expansion of nuclear energy in Texas released a report Monday. 61 possible advanced nuclear sites in Texas. Ercot says electricity demand could nearly double in six years. How in the bleep, bleep, bleep, bleep, bleep with the explicit can we get a double of the power in Texas, Michael? There’s absolutely no way. Yeah, well. [00:04:46][34.0]

Michael Tanner: [00:04:46] We’ll be having brownouts around here. No, we’ve got to fix the grid. It’s one of the things I hope and I know Chris Wright, secretary elect of Department of Energy, will fix. [00:04:55][9.4]

Stuart Turley: [00:04:56] Absolutely. We’ve got do nuclear plant power plants in Bay City in Glen Rose, but they’ve actually got four reactors, two power plants. The two plants are responsible for 10% of the energy in Ercot. A lot of power. [00:05:10][13.6]

Michael Tanner: [00:05:10] Maybe it is. So where do you think these these nuclear reactors are going to go? Because there’s a couple of different choices. They’ve got, say, 61 sites they’re thinking about. Where do you think these end up being? [00:05:19][9.1]

Stuart Turley: [00:05:20] It’s a big state. So, you know, I’m not sure. I think that you’re going to see actually Midland get them. And I think you’re going to see him over in that tarp. You’ve got one in Abilene. You’ve got Abilene Christian University with the salt nuclear reactor that Senator Ted Cruz is fighting to get them some Uranium two to fire it up. So it’s going to be all over the state. I think that that would help tremendously. You cannot have wind and solar without nuclear, and you’re not going to have a stable grid without natural gas until you get your nuclear bill. [00:05:51][31.0]

Michael Tanner: [00:05:52] Yeah. You know, it’s it’s most likely not going to be Houston considering the hurricanes that they have. So, you know, you’re probably looking at somewhere either in central Texas, the Rio Grande Valley, or where I think it’s going to end up being, which is here in the DFW metroplex somewhere, maybe either out west of Fort Worth where. Right. Maybe, you know, past Rockwell or something. [00:06:11][18.6]

Stuart Turley: [00:06:11] Well, you got the grid connections come in from west Texas. I think you got West Texas. And we need them for fracking. Since liberty has electric for practically. [00:06:19][8.4]

Michael Tanner: [00:06:20] Interesting. All right. [00:06:21][0.9]

Stuart Turley: [00:06:21] What’s next? Let’s go to how Trump energy plan could actually benefit the environment. I’m sorry. Trump lives just rent free in a lot of people’s minds. As second Trump administration focused on increasing natural gas production, exports could lead to a decrease in global CO2 emissions. That is. Let me hold on, Michael. Fact check True U.S. natural gas can displace coal and other dirty resources, particularly in developing nations. At the 29th Conference of the Parties, Cop 29 and Azerbaijan attendees are full dire prediction that the world climate will worsen under President elect Trump. And ain’t going to happen. More gas is the only way we’re going to actually do better. [00:07:07][46.0]

Michael Tanner: [00:07:08] Yeah, I mean, first off, I do find it funny. They’re holding Cop 28 in Azerbaijan. Hey, oil and gas, You know, it’s like they are holding it and it’s like holding it and Ryad, like, nod. [00:07:17][9.4]

Stuart Turley: [00:07:18] Like the heads popping from the left were so much fun. You can’t buy this kind of entertainment. There goes another one and another. [00:07:24][6.7]

Michael Tanner: [00:07:26] But, you know, I think, again, the United States produces the cleanest molecule fossil fuels on the planet, and China is not going to reduce their emissions. Okay. So what do we need to do? We need to somehow figure out how to make our production while not giving up our fossil fuel advantage, considering we have some of the world’s largest natural gas reserves. I mean, it’s not the largest, but we’ve got a lot of natural gas here. How we can produce that as cheaply as possible. [00:07:54][28.2]

Stuart Turley: [00:07:55] I really would think that there’s going to be and one of the things that I want to put out to President Trump is I’m writing a paper on how to get rid of ethanol and get rid of the Jones Act. Those two things will help lower emissions and energy costs in the United States. [00:08:13][18.7]

Michael Tanner: [00:08:14] Those the Jones Act we have to get rid of. And if you have to get rid of the Jones Act, yes, you’re right. [00:08:19][5.5]

Stuart Turley: [00:08:20] It’s going to be tough to get the farmers off the subsidy. [00:08:21][1.8]

Michael Tanner: [00:08:22] Yeah, it’s it’s it’s tough. But, hey, if you’re into the free market, you’re into the free market. [00:08:26][4.3]

Stuart Turley: [00:08:27] I think I just heard Elon and Vivek Ramaswamy go, you know, you’re deleted your your. That’s their new word deleted. Tony. [00:08:37][10.3]

Michael Tanner: [00:08:37] Hi guys. We’ll go ahead and jump over and quickly cover oil prices. But before we do that, we’ve got to pay the bills. Thank you for checking us out. You’re on the world’s greatest website. Energy news Beat.com The best place for all your energy and oil and gas news. Doing the team do tremendous job making sure that website stays up to speed. Everything you need to know to be the tip of the spear when it comes to the energy and the oil and gas business. Go ahead and hit that description below for all the links to the timestamps, links to the articles, you can also hit us up on substack. The Energy news [email protected]. We appreciate everybody who has subscribed from their quick. Speaking of Substack, shout out to Doomburg for reposting our interview with the secretary elect, Chris Wright for the Department of Energy. Got that Gregory back on it recommend going to our YouTube channel and checking that out Go ahead and to subscribe to us there. Also we’re making a nice big push towards the end of the year again, guys, not to beat a dead horse, but if you’re paying taxes in 2024 I’m sorry, taxes are 22. So 2023, enter 2025. Lower your tax burden. Invest directly in oil and gas if you need help and want to know how investing in oil and gas can lower your tax burden, diversify your portfolio, give you monthly dividends, and also be able to call yourself an oil man. If you watch Land Man last night on Paramount, you could be held up by the cartel with a bag over your head and a gun pointed at you if you call yourself a holy man. So think about that, if that’s what you want your lifestyle to. Invest in oil and gas. And then you can call yourself a landman, which is great, which is, again, we got to talk about how that should be. There was about 2% of that show that was maybe legit, but there was you know, they threw around some lingo. But it will be funny to watch, you know, shout out to everybody who who watched that last night. But again, guys, invest in [email protected]. If you’re interested in figuring out how to lower your tax burden for 2024,. [00:10:33][115.3]

Michael Tanner: [00:10:34] Let’s go ahead and just quickly cover oil prices, guys. But before we do that, we’ll just quickly run through the market. Market was up about 3/10 of a percentage point. That’s the S&P 500. Nasdaq was actually up about 7/10 of a percentage point. Two and ten year yields both basically flat. Dollar index drop about a half a percentage point. Bitcoin popped about a percentage point, slightly over $90,000. Crude oil actually jumped about two and a half, three percentage points today, opened all the way, was at its low last trading session, all the way down at 66, 55, closed just above 60 or close at $69. Now, currently trading as we record this about 5:15 p.m. Central Time is just now below $69.68 98. A couple of things. You know, in terms of why prices were up. One, we have an outage in the North Sea. So there’s this line, this electrical line that’s been cut is what it seems like from running from Germany to Finland. A lot of that, you know, power outages. [00:11:32][57.7]

Stuart Turley: [00:11:32] There’s a connecting. [00:11:33][0.3]

Michael Tanner: [00:11:33] Tone on their drop oil field, which is basically the Western Europe’s largest oil field. Equinor announced that they’ve got plans to restart production, but it’s not really immediately clear when it news or when it’s going to come back. Online prices sort of jumped on basically the tightening of that North Sea market. We also did see Kazakhstan’s biggest oilfield tended, which is actually operated by Chevron, have to reduce their output by about 28 to 30% due to those ongoing repairs. And then as I teased a little bit earlier, we also did see an escalation of the Ukrainian war in which president elect or not President elect President Joe Biden allowed Ukraine to start using U.S. made weapons to strike deeper into Russia. That’s according to two U.S. officials. The Kremlin. The Kremlin came out on Monday. And this is not good. When the Kremlin starts saying Russia will respond to what it calls a reckless decision by the Biden administration, having previously warned that such a decision would raise the risk of a confrontation between the US led NATO alliance. You know, again, you know, they’re trying to draw us into a war before the administration changes. Why not hand over a spicy conflict with Russia? It’ll be very interesting to see how that plays out over the next two weeks. You know, and this all, again, comes at the heel after oil prices took about a 3% drop last week. So we are basically seeing a rebound of where prices are, but pretty slow news days do not much on the finance side. And I’m still putting together some of my research notes from the you to the Ovintiv into Montney swamp trying to get a little deal spotlight lined up. So we will try to get that to you as soon as we can. But what else? What are you looking at? What are you hearing? [00:13:12][98.8]

Stuart Turley: [00:13:13] Well, I’m I’m just I’m kind of on pins and needles waiting for the end of the war. I know it’s coming personally. When I get a call from Sergeant Schultz, I mean, Chancellor Schultz. [00:13:22][9.1]

Michael Tanner: [00:13:22] Good old, good old Schultz telling you that he sees nothing. [00:13:25][2.5]

Stuart Turley: [00:13:26] I see no more. I see no war. [00:13:28][2.3]

Michael Tanner: [00:13:29] And absolutely why guys will. With that, we will let you out of here, get back to work. So you’ll be rocking a solo show tomorrow and Wednesday or tomorrow. On Thursday, I will be in the great, great city of Midland, Texas for the Heart Energy Executive Conference. So if you are there, feel free to find me and say hi. Maybe we’ll do a quick little call in that night. But otherwise I think we’ll let’s do Rock a solo show the next two days, but we will be back in the saddle. What’s our plan for Thanksgiving? We’re going to shoot will show our show Monday. Well, the show Tuesday. I’m in town. I got I made the family fly down to Houston or fly down to Dallas. So I’m. [00:14:05][36.1]

Stuart Turley: [00:14:05] Good. Mama Tanner and Papa Tanner. [00:14:07][1.8]

Michael Tanner: [00:14:08] Scoping out maybe where they might be living next because they got to get out of the. [00:14:11][3.1]

Stuart Turley: [00:14:12] 30300 yeah. You know how them Venezuelans are up there. [00:14:16][4.0]

Michael Tanner: [00:14:16] When I heard they were in Aurora, I was like, that makes way too sad. But we’ll probably the show Monday, Tuesday. We’ll probably do a show Wednesday, probably take Thursday off. We might do what maybe an extended best of maybe a best of the year. I don’t know what we’ll do, but we rock. And Alex, we beat the Cowboys game. We’re going to the Thanksgiving Cowboys game. No way. It’ll be fine. Yeah. I mean, now that there’s both third string quarterbacks are playing, I don’t know how fun it’ll be for both those teams, but it’ll be great, guys. [00:14:45][29.0]

Michael Tanner: [00:14:45] But either way, we will be back. And we understand that a lot of people have a lot of time on their hands. You know, if you’re not visiting family, if you’re just sitting alone. So we will make sure there is content in your podcast app from us to fill you up so you can maintain yourself till we get to the next week. But with that, guys, let’s let you get back to work. Appreciate everybody checking us out here on the world’s greatest podcast. www.energynewsbeat.com for Stuart Turley, I’m Michael Tanner. We’ll see them on. [00:14:45][0.0][850.8]

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