We mentioned before during our launching edition that by mid-December, Europe will be under pressure for its natural gas reserves due to the cold weather. The mild winter isn't here until mid-February, and it's only that for Europe as wind farms are facing a lack of speedy winds to generate electricity, putting double pressure on Europe energy.
"Gas demand for Europe, including the U.K., was up 44% this week, compared with the middle of last month, according to data from price-reporting agency ICIS" Source: WSJ
Putting all factories and producers using Natural Gas under the pressure of shortage and production cut; Gas prices affect industries that depend on high energy consumption (for example, Steel and fertilizers producers); earlier on 25 August 2022, Yara International ASA, the world's largest fertilizer producer, announced they are reducing ammonia production due to high gas prices.
Still, it's positive for Egypt's LNG export, Suez Canal, and any local producers depending on heavy energy consumption and natural gas in the production cycle.
Sources:
https://www.wsj.com/articles/lack-of-wind-pushes-europes-power-prices-higher-just-as-cold-sets-in-11669981726?mod=Searchresults_pos1&page=1
https://www.wsj.com/articles/europe-cold-snap-tests-gas-reserves-after-russian-supply-cut-11670589542?mod=Searchresults_pos2&page=1
https://www.asharqbusiness.com/article/44982/طقس-قطبي-قارس-يضرب-أوروبا-ويختبر-إمدادات-الطاقة/
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