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Energy Situation Just Got Worse

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Woodside, a major LNG (Liquified Natural Gas) producer and a major Australian company has shut down its largest production train at its North-West Shelf LNG facility. This is a major supplier to overseas markets - Japan etc. And it's going to be shut down for a whole MONTH.

There is still production from the other trains but the company is suggesting that it may not be able to meet supply contracts. And of course it isn't going to have any spot LNG to sell...

So, less LNG is now available on world markets. Add that to the US problems in the Gulf of Mexico. And of course with less natural gas being produced there's less LPG too. Whilst there are other producers, this does represent a loss of production capacity right when it's most needed.

And what will Japan or others faced with a LNG shortage do? Burn more oil of course...

The words "perfect" and "storm" are starting to come to mind as far as energy supply is concerned.

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some suppliers have just notified us this morningn of higher costs due to...wait for it......

cost of oil. raw material. global economic situation...???

if this is a global economic situation then how come the bbc are telling me that prices of houses are rising and its all good times ?

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  • 301 Brexit, House prices and Summer 2020

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