Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I've ordered some new jumpers, reckon it could be a cold winter :-(
" don't suppose the gov't. have a backup plan? Of course they do."
Well it's well hidden from MP's, ministers, the media and industry Ibug. In an emergency they can INSTRUCT all gas producers to go flat out and damn the consequences but even then there isn't the people and kit to do it quickly. Just check some of the industry websites - they've been forecasting this for years
And no doubt you will get really ****ed off if Santa doesn't turn up this year.
It is what it is and has worked so far. I don't suppose the gov't. have a backup plan? Of course they do.
"The UK works on a JIT system for gas holdings and it has worked for years so they are currently running at 100% so what is the problem?"
the only country in Europe that does IBug - and what happens when the Russians "accidently" cut N Stream? And the price of LNG goes through the roof and that tanker from Qatar we were depending on changes course from South Wales to Rotterdam at the last moment?
JIT works just about when you can produce 100% of your needs locally - which we used to be able to do, now we can't - we're dependent on imports again.
As with the blockage of the Suez Canal, we're at risk of any unplanned disruption
Means UK system is particularly vulnerable to a rise in the gas price as is happening at the present time.
Mirasol
The UK works on a JIT system for gas holdings and it has worked for years so they are currently running at 100% so what is the problem?
Humbly Grove provides about 20% of UK storage following closure of Rough. It contains about 3% of NTS daily demand. Since start-up in 2005 it has injected, withdrawn and treated about 20 bcc per year. Humbly Grove has a working volume of about 10 bcf with withdrawal/injection rates of about 280 mmscfd.
With all the oil at the Gusher...
https://youtu.be/a2h2kWmf5iA?t=88
For 50 to 100 billion barrels of oil UKOG is cheap?
Loxley, not Lidsey!
Oil explorers aren't valued on production alone, account is also taken of assets and prospects.
Lidsey looks to have become a much more valuable asset, always assuming the appeal decision goes in UKOG's favour.
All this talk of oil and gas on here. Anyone would think that UKOG actually produced enough of either to make a jot of difference! Totally deluded :-)
All this talk of running out of gas
How are they going to turn it off
Or how the hell are they going to turn it back on
"A very badly worded article. Britain has plenty of (gas) storage capacity."
Wrong IBUG - the main field that was devoted to Gas Storage was taken out of service a couple of years ago because the Govt wouldn't sanction a very small increase in gas p.rices Older investors might remember Infrastrata when they spun out of Egdon 10+ years ago to set up a storage scheme off the Isle of Purbeck - again the Govt refused to allow any price increase (a tiny part of a penny a therm) to allow it to go ahead.
Some of the gas fields in production can be ramped up but it stakes time, people and kit otherwise you can wreck the reservoir - after 10 years of running down oil & gas in favour of renewables the amount needed - and the time it will take - are substantial
https://www.thegwpf.com/climate-change-committee-misled-parliament-about-the-cost-of-net-zero/
From the same article:
In 2000, the UK produced 1.26m GWh of natural gas and imported 26,032 GWh. By 2011, imports beat production for the first time. Last year UK production was 438,520 GWh compared with imports of 478,188 GWh.
A very badly worded article. Britain has plenty of (gas) storage capacity.
And on page 4, entitled "Fuel Crisis":
"Britain is vulnerable to shocks because of a lack of (gas) storage capacity. France has 14 weeks' worth, Germany 8 and Italy 11. Britain has 4 days".
Front page of the Sunday Times.
"Boris Johnson is backing a new generation of nuclear reactors as Britain finds itself in the grip of an energy crisis.
Ministers are understood to have adopted a 'change of focus' towards nuclear power, which the PM sees as essential to the government achieving its 2050 net zero targets as well as his levelling up agenda ...
A source close to Sunak said: 'His general view is that we should have been doing this 10 years ago, when it was cheaper , but we can't rely on wind and solar power".