tonight
Europe faces very uncertain times in the
months ahead will Russia turn the gas
types off will the extreme weather
situation that we've seen in several
parts of Europe continue over the summer
months in Germany in particular there
are concerns of a security of supply for
the coming winter as the country
scrambles to fill its gas storage units
could Nordstrom one stay offline after
its summer maintenance outage reducing
gas flows to a trickle and deepening
Europe's energy crisis
but this year's e-world Trade Fair
Montel spoke to several experts about
the unprecedented current market
situation
Germany faces a very tight winter the
thing is that we are having targets to
fill up the gas stocks 80 in October 90
in November for Germany and we cannot
match that with the delivery from North
Prince North dream one which is missing
currently so we cannot fill up our gas
storage depending on the winter it will
be very tight especially in January
February and March the country is also
working very hard to fill its gas
storage units so now it's really
necessary to to fill the storage so we
need definitely the gas for the winter
of course it depends then on the
situation if it's a very severe cold
winter it's different to compare to warm
winter definitely but nevertheless we
need gas into the storage for the winter
that's necessary and concerns are
mounting at Municipal Utilities who are
trying to procure alternative supplies
so basically those utilities operate
coal plants they have already we started
stocking up on supplies usually they
start during the summer but this year's
they actually started as soon as I March
so basically just after the war broke
out they've started to make sure they do
have enough fuel when the winter comes
just to keep the economy running
and what's happening to these old
mothball plants Julia
yeah so politicians are trying to work
really hard to make sure they will be
reserved for this winter around 10
gigawatts of mossful coal plants so
those ones who were supposed to go into
Reserve this winter and the utilities
they will be able to bring those plants
back to the market that means they also
need to stock up on Call even more and
the government is just trying to do
everything to make sure
um Power will be flowing and gas will be
able to replace everybody is working
really hard together industry and
politicians just to make sure Germany
doesn't fall into a supply shock this
winter
some electricity generators are turning
back to coal
we have seen that quite a few times in
the past
I think the main reason at the moment is
the power shortage that has developed in
in Europe and and in particular the lack
of gas and the fact that
there is a kind of embargo going on for
Russian gas declared by European
utilities or the European commission and
there is just a shortage of power at the
moment in in Europe and looks like coal
is back as as the answer at least for
now
where is this coal coming from
a challenge
in many ways Europe is coming back to
where it was I would say before 2005 so
before Russia started to emerge as a
large supply of gold to Europe
so we are coming back to traditional
sources mainly South Africa but also
Colombia and the US
and there they are more I would say uh
Outsider or or smaller origins or
non-traditional or its Origins to Europe
such as Australia
Indonesia purple so I would say Mongolia
Kazakhstan or Mozambique for instance
but as ever it all depends on the
weather yeah well I think first of all
we need to look at what's
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so
um we've had very dry conditions over
the Alps
um the last few weeks have been very
warm across Europe and everything so
um we're in a situation now where I
think the back end of June the first
couple of weeks of July are looking like
a lot of Europe will have extreme heat
um when you look at what's happening in
the Alps and I've just talked about that
very dry period there's there's not a
lot of snow up high in the Alps so
that's not really feeding a lot of the
rivers I think we'll end up with
problems with
um French nuclear if that if that
temperature stays High over the next two
three weeks or so we're gonna have we
almost certainly have problems with the
French nuclear situation then have a
look at the Rhine moving Freight up and
down the Rhine with very very low river
levels extreme heat not an awful lot of
precipitation in the um in the forecast
you know I think you know we're going
into a situation where you know
Commodities are going to be stretched I
think we've experienced unprecedented
marketing conditions over the past six
months and there will be no let up as we
enter the second half of 2022. in the
end
it all boils down to the will of one man
and one man only Vladimir Putin
