The Greek island helping Europe dodge an energy crisis

Europe raced to shore up its energy supplies in the wake of Russia's invasion of Ukraine, and it appears to have averted a worst-case scenario this winter - largely thanks to liquified natural gas.
For years, Europe was heavily dependent on Russian pipeline gas. But when Russia attacked Ukraine, and Europe could no longer count on those gas flows, it pivoted hard to LNG, a flexible energy source that comes largely from the United States, Qatar, Australia and Algeria.
Europe has successfully filled its gas storage capacity to 95%, which means all should be OK this winter. But next winter is a different story.
Because Europe was so reliant on Russia, it has limited LNG import capacity. European countries are scrambling to build new infrastructure to be able to import more of it.
CNBC visited the only LNG terminal in Greece that receives, stores and turns the critical fuel back into gas. Watch the video above to learn more.
#CNBC #LNG #NaturalGas #EnergyCrisis #RussiaUkraineWar
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[@k4mik4tz3]

Sidenote. Most of the LNG tankers worldwide are owned by Greeks. Even the new LNG terminal in Germany is a greek one

[@eminemeatingmmswithotherem5879]

Owned by greeks but registered in different flags

[@MrBoggins1234]

I'm glad the Greeks have some tax income generating assets left after Goldman Sachs' criminal activity (how do banks get away with their country wrecking activity) started the Greeks slide into ECB's asset stripping of Greece.

[@jasonhaven7170]

Not really, it's owned by Greek companies that pay barely any tax and hire a relatively small number of Greeks

[@TheAnonJohn]

Money and Capital has no country. It doesn't mean that greek ownership benefits Greeks in the slightest. Greek shipowners OWN Greece. There are the only interest group that has successfully lobbied not to be taxed and it's written in the Greek Constitution! Their money is stashed in tax heavens.

[@user-og8zx2fe4n]

@@eminemeatingmmswithotherem5879 so what? The flag of the ship is not that important today

[@dovepiranha6543]

Thank you Greece. I wanna now see if those who blamed and critisized their government for (financially) helping Greece in crisis will shut their mouth or what. Now we don't have to be concerned about sitting in the living room wrapped in blanket during cold nights of winter. 🇬🇷

[@issith7340]

Even if they shut their mouth or not, they will have to pay greece for the help, as they did, when Greece asked for help. They gave a very expensive “help “. Let’s return the gesture.

[@ioannisalexiou7227]

It's not the time yet, but soon the light of Greece will engulf in love everything

[@itsallsausagetome4059]

This report is misinforming you big time.

[@stephendoherty8291]

You do realise that Greek gas is for Greece use mostly and not ending up in Germany or most of the other major greek crisis lenders. I doubt Bulgaria was a big lender to Greece and it retaining a currency which had a value. Greece is also fortunate to be closer to Qatar and the middle eastern gas suppliers plus the new gas field finds in the eastern med.

[@dimitrismarkos2466]

so true!!!!

[@rudywooders9602]

the Greek energy tycoons made billions in 2 years and the Greek citizen pays the most expensive electric in EU. Because government closed all coal energy factories that used domestic stock coal mines to "save environment" and make some ppl billionairs

[@nick7807]

Greek people don't pay the most expensive electric in EU

[@andreaberat3355]

@@nick7807 they do

[@archaeaoris900]

​@@andreaberat3355 If you check the eurostat electricity price for household consumers chart, Greece is below the EU average. So its one of the best European countries. Even in the "Change in electricity prices for households consumers (%)" and "Change in natural gas prices for households consumers (%)" charts between 2021 and 2022, Greece is not the country with the highest increase. The problem for Greece is the prices for non-household medium-sized consumers, which they pay more than their European peers, as you can see in the "Electricity prices for non-household consumers" chart.

[@nick7807]

@@andreaberat3355 just read the statistics and don't hear what SYRIZA says

[@andreaberat3355]

@@nick7807 lmao I’m not hearing what syriza says.It’s a fact Greece pays the most expensive electricity in EU.Not only the electricity but also petrol oil

[@GVlis]

That's why in Greece we pay more than rest Europe

[@EpicThe112]

In some cases Greece has a railway terminal dedicated to liquid natural gas where it is sent over Europe using the Zagkks LNG Tanker wagons since existing Zacns and Zags LPG tanker wagons are not designed to transport liquefied Natural Gas

[@12mindhunter]

Once again Greece saves Europe

[@theodorer8939]

When was the last time?

[@paytoncoutlis2126]

WW2

[@losobb9208]

We give outside and in Greece we pay triple price on energy

[@pok0000]

well done Greece

[@fbelogo8719]

I live in Greece and we are happy to help Europe get through this crises. Our islands are paradises and love to visiting every summer

[@Swede.from.Boston]

Greece have a enormous of debt and I hope you now can pay that down to 60% of gdp.

[@dcbaars]

I am happy Greece has these terminals too👍🏼!! I heard the Netherlands has expanded Rotterdam Eemshaven with terminals (fixed and flexible ships) as well as opened a new terminal site in the north of the country. I am really curious to the new technologies being developed. Solar energy is becoming rapidly cheaper and mainstream but for stable energy output, storage and multiple sources need to be connected. Hydro, piezo electric, thermal electric and wind energy systems are highly researched. I’ve seen crazy working solutions although not sure about the efficiency.

[@tikitasre]

Greece have Oil and gas...But they dont let them mine and use / sell it....!!

[@Tarek_ElMaddah]

I worked for few years at Egyptian LNG … quite interesting industry… the most complicated process is to liquify the Natural Gas, store it and the ship it … the gasification (at the importing side) is way less complicated…

[@GreekHackerGreek]

Greece with some of the biggest geothermal sites, with possibilities for true renewable and environmentally friendly energy, "ordered" to not use them, and import LNG from USA. This is not green energy, this is business! Read the scientific analysis on Greece's Geothermic fields from the greatest professor of geothermy Dr. Fytikas.

[@itsprometheus8938]

At what cost Greece has one of the most expensive bills in europe

[@thewayiseeit2069]

Love Greece 🇬🇷 awesome place for vacation ❤

[@m.k2593]

Maybe europe wil have their loans back one time

[@aflessas1295]

@@m.k2593 maybe europe will reimburse for holding the immigrants in Greece and also Germany for the ww2 catastrophes

[@dimitrismarkos2466]

@@aflessas1295 so fucking true!!!!

[@vadoc9330]

@@m.k2593 maybe Germany pays back for the 500k people they killed during WWII and the billions of gold the stole from our government again during WWII

[@peterkart1185]

@@m.k2593 Europe is getting its loans back. Slowly but steadily. Its not like they are rushing us plus i guarantee you wont see a penny of that money.

[@attackfive8659]

Did someone mention specifically which Greek Island this is all happening on…did I miss that…is it Revithoussa LNG Terminal perhaps?

[@eliasl.6902]

The reporter said that she’s at Revithoussa LNG Terminal.

[@mingdianli7802]

@@eliasl.6902 Time stamp?

[@nikoskamadanis2952]

@@mingdianli7802 1:13

[@vasiliyt8600]

The island is called Revithoussa. It's not too far away from Piraeus.

[@NewDawnReaper]

The island of the terminal is called psytaleia

[@mitsos306ify]

The problem with LNG is that it is 3 to 6 times more expensive than russian Gas and its supply isn't enough to cover the European demands. Also Germany was planning to keep its fossil fuel factories until 2050 and not 2035...

[@andr386]

Germany is using the Belgian LNG terminal that is big enough to feed a third of Europe. Germany also has a floating terminal since recently. The price of LNG is still up to 3X more expensive in some situations ...

[@johnmandiram]

Import Russian Oil the problem will be solved,no need to suffer like this,otherwise U have Illegal lending, Inflation & the list goes on & on............

[@ibrahimtouman2279]

Without cheap Russian energy, all energy-intensive industries will shut down or leave Germany.. let’s wait and see how the German economy will look like in the future!!

[@jaja3359]

@@ibrahimtouman2279 Nice story, did you make that up on your own?

[@ibrahimtouman2279]

@@jaja3359 have you been living in a cave or something, because it seems you haven’t been watching news lately..

[@andr386]

​@@jaja3359 BASF has already left for those reasons. Cheap energy was the only reason Germany still had a strong steel sector and many industrial production sites that other modern countries had lost. Chemical industries are also down right now.

[@littlerick3458]

In the meantime Spain is like... "Hello? I've got the biggest infraestructure for LNG?"

[@ev.c6]

It’s almost 100% full. Ships are wondering around the cost to unload.

[@kreb7]

Also, Greece has one of the biggest, if not the biggest merchant navy.

[@kreb7]

This is new capacity not pre existing and in use

[@Abcflc]

It’s not properly connected to the rest of Europe…

[@gonzoducks8]

Blame France for that. They didn't want to let connection happen.

[@xinfuxia3809]

It would be great if they capture the coldness during gasification to cool residential buildings, at least during the summer months

[@verylongname8161]

Japan's LNG terminals use the cooling for petrochemical processes and extraction of various gases, cooling residential buildings would be easy only if the city already has a district cooling system like in the case for some chinese cities and some parts of singapore

[@dimos5422]

there isnt a network to support something like that here in Greece.

[@nova_verse6284]

Europe wants to use natural ventilation as much as possible to reduce any generated cold by machines or other means which means more costs.

[@SunshineShane]

At max capacity Revithoussa handles 11 shipments of LNG per month, corresponding to 4.3 TWh (terawatthours) if converting the LNG. For comparison of scale: The North Stream-1 Gas Pipeline to Germany alone had a capacity of 55 Billion cubic meters of Gas per anno, equivalent to 537 TWh or 1340 shipments (!) (most LNG ships are small or medium size, not monumental supertankers). This terminal will not be able to handle 132 shipments per Anno consistently (repairs etc.). At 5 times the price for LNG of the former pipeline-gas, what will happen is that all gas-dependent industries will have to disappear from the EU, as they are no longer competitive on international markets - and reestablish in the USA, China, Asia and Southamerica. Energy-crisis dodged, unemployment and debt crisis looming. Nice docu anyways.

[@papertoyss]

I think with the prices of N/G getting lower to the pre-war ones, this you described is not really the case. You see I seriously doubt that an organization like EU does consists of fools

[@lepil00]

Actually it was (2007) 55 to 5,3 b.c.m. In other words, 1/10th of the Nord Stream capacity. Today there is an extra ship attached n there are expansion constructions ongoing...

[@YZFMANIAC08]

Crisp analysis

[@manikkalore1630]

Very informative piece, Thank you.

[@PeterBryn]

LNG is an important but short bridge. Clean ammonia import and local renewables are expected to begin offsetting LNG over the coming decade.

[@evelyncy1327]

Green hydrogen without a doubt. We are investing in this industry.

[@wouterpaap9343]

I just saw a very American, superficial and incomplete news report. This plant has been there sinds 1999, so the Greeks have not errected it just now to save Europe. With no or little investments it just makes more money. Helas, even today this money goes to people who say they are running the Greek State, but as a local friend of mine said: Greece hás no state. Why don't you make an in depth report on that, CNBC?

[@spydude38]

Germany now has one LNG terminal that was built in less than 12 months. It opened last week. Nuclear power is now being looked upon as another source. Germany couldn't have made a more untimely decision to get rid of it's nuclear power plants, but then again they also laughed at Trump at the U.N. when he told the world that Germany and the EU were crazy to depend upon Russia for oil and gas.

[@lazaros1312]

well doing also what US is telling us isn't smart either

[@petersz98]

Putler thought he could blackmail Europe with his gas. He did not realize Europe can switch suppliers and can do without Russia for energy!

[@m.e.345]

Because of the energy involved in cooling and transportation, imported LNG has a carbon footprint roughly equivalent to diesel fuel.

[@lazaros1312]

well we could use the gas in aegean to minimize the transport cost but our neighbor Erdogan thinks it belongs to him

[@billpetrak]

So, there is NO drawback to LNG? No one cared to add that this process, having to turn natural gas into liquid, ship it half a world away and turn it to gas again, makes LNG also the most expensive?

[@gurustyleacmilan]

Near Revithousa is my home island of Salamis and is tragic and shame that we don't have gas for heating and cooking.

[@THCHHC]

at least we here in Greece have the cheapest price in Europe for electricty instead of the most expensive one according to some comments here 🤣🤣🤣

[@kapelosVasilis]

@@THCHHC Yes, and we have worse wages think better before write a commend ..

[@shingosshojiopoulos6608]

@@THCHHC we have the worse electricity prices not the best

[@wakeno.6047]

@@THCHHC are you nuts, we have the most expensive when it comes to market sold energy price !

[@THCHHC]

@@wakeno.6047 This is what I meant

[@chi-jenyang9752]

It is time to forget about net zero by 2050. Perhaps net zero by 5020 is more plausible.

[@dipladonic]

Indeed. Renewables are a very diffuse and unreliable form of power. Subsidized wind veins and sun boards will never replace utilitarian, energy-dense, reliable, plentiful, highly taxed and portable hydrocarbons without civilisational progress going into reverse.

[@King_ofNight]

😂😂🤧

[@geokon3]

Either way oil will be over by 2070 if we continue to consume it at the same rate, so we have to find alternatives

[@geokon3]

@Jack Sparrow Next time don't waste it just put it in a bottle and then light it up to make tea

[@SalesforceUSA]

I love this video

[@janiekcarney5482]

I have nothing against LNG. We will always need it for industry etc.

[@euandykes]

The bottleneck won't be the LNG. It will be not having enough workers to facilitate the supply. Pipelines only need a fraction of the personal per cubic meter of gas delivered. And it's only one major sea disaster away from seeing how dangerous it is. Then the price goes up even more. Europe needs ways of smoothing out energy from renewables and a regional power transmission plan. Move industry closer to the sources.

[@thatshowtoroll]

Revithoussa LNG certainly helped Bulgaria weather the gas crisis. As did Azerbaijani piped gas. Previously we were over 80% reliant on Russian supply. Bulgaria has now gained access to Turkish LNG terminals and booked significant capacity at Alexandroupolis LNG terminal which will go online in 2024.

[@wakeno.6047]

🇬🇷🇧🇬🤝🏻

[@barrycrosby8602]

Most of the LNG comes into Europe via the UK is regasified and sent to continental Europe via multiple pipelines

[@nathanngumi8467]

Very interesting!

[@matthewspry4217]

I'm here in Greece I thought being on LPG bottled gas was a disadvantage, but guess what I can buy and store it whilst cheap. Something I couldn't do on piped natural gas

[@Ukit50]

LPG bottle is useful whereby pipe natural gas is not available in distribution network

[@morfeas1000]

Greece is also building 5 more stations.

[@stikeMedia]

On and on and on goes the reporting in mainstream media about gas as a bridge or transition fuel and taking a "balanced approach" while no mention is made of the climate destroying methane leaks that go hand in hand with using this fuel as an energy source. Heat pumps, RE and storage is the way to go in a climate emergency, but you'd never know it from this kind of reporting. One wonders whether there is pressure from the fossil fuel industry on the editorial angle at CNBC to normalise this madness.

[@harry130747]

Heat pumps need electricity which comes from (mostly) gas at the moment.

[@gandalf6700]

Denmark is "normally" 100% self reliant on gas , these years our Thyra Platform is down for mainetaince , and should be up and running fall/winter of 2023 , but still only less than 1% of total EU usage , ,denmark dont really use that much gas per capita as other EU country's , so its gonna help alot but danish politicians wants to go green ,, so we dont really build out our gas capacity , coz i heard and expert talk about denmark could be providing around 20-30% of all EU gas , but so far we have many gas areas we dont use .. at all :) so EU make deals with Qatar for LNG and country's like that

[@GeorgeofGondor2]

About time it helps Greece as well

[@paulsven7923]

So we have pipeline that has been built and because of politics we have ships carrying it across the oceans chugging on crude oil, sounds very environmentally friendly.

[@wheillebherttjanmontalbeu]

we just delivered Gas in Revithoussa a month ago

[@stanleymax4388]

LNG is so expensive, Germany will be de-industrialized.

[@philipkoene5345]

No - German industrial products will get slightly more expensive in the medium term

[@jaja3359]

That's why Japan has an amazing industry aswell right? Lmao

[@amazon4716]

Once hydrogen is in place Oil and traditional gas will not be needed.

[@gplusgplus2286]

Watched the full video and surprise surprise @CNBC there's no mention of LNG being incredibly expensive compared to pipeline gas. It has to be ultra cleaned and refined first, then taken down to -160C which needs a ton of energy, transported at -160, again huge refrigeration costs plus the leaks, and then regassified. LNG is meant to complement a country's needs maybe up to 5-10%, not replace it at a huge cost to the consumer. Meanwhile, Russia sends its gas to India and China where they make it to LNG and sell it to Europe, so what sanctions? Its a complete joke and the consumer / taxpayer pays for it.

[@eduardocruzo8607]

The LNG sold to Europe doesn't come from India or China. What are you drinking? Vodka?

[@3markaw]

How much is human life worth to you ??? Not very much obviously .

[@brianforrester7707]

A few things to consider : if you've got an LNG export terminal, you're not short of energy supply. Use some of the gas to power refrigeration plants, then export the rest. For example, Qatar exploits the largest gas field ever discovered (North Field) - reserves which dwarf the potential local market. LNG is a very effective and efficient way to utilise these resources.. Don't know what you mean by "ultra cleaned" as the gas produced is typically high 90's% methane (natural gas, C1), with the remainder being heavier fractions eg. ethane (C2) propane (C3) which can be extracted for sale as LPG. Leaks? from where? Any boil-off from the LNG tankers in transit (as the exterior of the tanks warm-up - despite being painted white to reflect the sun's energy) is re-injected into the centre of the LNG storage tank so LNG ships don't leak. Any leaks at the gasification or regassification plant would be both a waste and a danger so these are engineered-out. Regassification is not an energy-intensive process. Neither India nor China export LNG - neither has any capacity to do so. LNG is not a joke - it's a major gas supplier. I suggest you check your facts.

[@gplusgplus2286]

@@brianforrester7707 give me prices please, LNG vs pipeline gas. They didn't tell us the green revolution is gonna cost x10.

[@brianforrester7707]

@@gplusgplus2286 'fraid the last time I had proper access to the relevant data was 2015 when I retired, but it was always cost-competitive, or it wouldn't have proliferated. If you think the green revolution is expensive - just consider the alternative, which would be catastrophic.

[@kvn8559]

Griechl. im Energiegeschäft interessant. Die anderen Mittelmeerstaaten sollten auch neue Optionen finden Wert zu generieren. Auch der balt. und osteuropäische Raum müsste Neues finden: Archiol. Schätze, Bodenschätze, Energieträger, Rawmaterials ...

[@dedyzee]

Expensive oil and gas

[@tibsyy895]

The EU has to 10X up their investments into renewables! Especially into wind!

[@ibrahimtouman2279]

renewable energy is mostly intermittent.. too much of it leads to a fragile power supply system!

[@dipladonic]

@@ibrahimtouman2279 Renewables are also a very diffuse form of power. Subsidized wind veins and sun boards will never replace utilitarian, energy-dense, reliable, plentiful, highly taxed and portable hydrocarbons without civilisational progress going into reverse.

[@f87max30]

The terminal at Zeebruges in Belgium has a lot more capacity.

[@drorbenami4827]

Natural gas produces 50% carbon that coal does....it is NOT green energy...

[@terramater]

Europe's entire energy structure is heavily dependent on gas. There's no other short/mid-term way around switching to LNG - whether the Europeans like it or not. This also heats up an environmental discussion - of course. But, as we found out while researching for one of our latest videos, the current boom in the wood pellet industry is a much worse alternative. For all the different reasons.

[@MusicalMemeology]

Europe is having to do a lot of dodgy enviro book keeping to make things like burning wood chips to appear green.

[@heinaye3594]

Someone doesn't know what LNG stand for 🤣🤣🤣

[@johnmandiram]

Import Russian Oil the problem will be solved,no need to suffer like this,otherwise U have Illegal lending, Inflation & the list goes on & on............

[@danielhutchinson6604]

@@heinaye3594 It stands for Profits.....

[@johnnyllooddte3415]

theres no long term solution either..its gas or nothing..or back to coal

[@cfwin1776]

Putin: let’s check when the facilities on that island go offline. It should be real soon.

[@sabilj2000]

This is only LNG Terminal, that means Greece still need to import gas from other countries. Whether you get the supply from other countries is another issues.

[@davidtate166]

I sailed on lng. Gemini. In 1981 from the hairy Lundberg School of seamanship piney point Maryland. 😊

[@nofgorotle366]

Interesting report, i say there is competition coming up Turkey as Gas and Oil Hub, Greece , Spain , Belgium, woow , my Kids would be interested in sustainabilty and cost can someone point out the environmental and climate impact of piped and US shipped LNG gasses and whats the timeline to turn LNG climaneutral? Can you tell us what factories and consumer have to do to run dirty LNG while we have ultra efficient equipment in terms of burnfactor and impurities, Last but no least the target price of 1-2 cent per kW/ h needs to provided otherwise businesses will continue to move

[@ArisHDi]

Meanwhile in Greece... We have the most expensive Natural Gas in EU.

[@immortal2534]

No we don't, we are somewhere between the middle

[@julianaponte827]

in few years we will see a uscsb video on a lng plant somewhere....

[@teamallyracing1780]

So why where they not using before all this ?

[@jerryjoynson]

Much of the gas is converted to electricity. Increased profits could be made if the importers used the cold within the LNG to cool down the air going into engines generating electricity. A gas turbine generator, for example, can lose 10 to 20% of it's efficiency, and maximum output as air temperature rises, lowering the air density and reducing the inlet air flow to the engine. Inlet air heat exchangers, and intercooler air heat exchangers already exist for many gas turbines. Cooling the air, by transferring its heat into the boiling LNG, increases the electricity generated per unit of gas burned. Less electricity (or none) is also consumed lifting seawater to boil the LNG, so noticeably lower overall fuel costs are gained. Vaporising LNG using seawater typically makes the near shore water far colder than is normal, harming the local flora and fauna. So a second benefit is to stop this harm by not using seawater to boil LNG. This solution does require to site generators close enough to the LNG vaporiser. Ships containing up to 500 MW of generating capacity exist, and can be built that could use the cold from the LNG. I studied this in some detail a decade ago for a company that was designing FSRU's.

[@evelyncy1327]

1 ton of H2 requires 18 tons of purified water. Why is it called green? Because it takes less than 0.035 kWh to produce 9 liters of pure water from seawater, and 50-65 kWh to produce 1 kg of hydrogen from this 9 liters of pure water. The problem with hydrogen is energy consumption, not water consumption! According to calculations by Michael Webber, associate director of the Center for International Energy and Environmental Policy at the University of Texas at Austin - based on the atomic properties of water - 1 kilogram of hydrogen requires about 9 liters of water as a feedstock. In one year, 60 billion kilograms of hydrogen require 541 billion gallons of freshly distilled water. This figure is similar to the amount of water required to refine an equivalent amount of petroleum (about 3.7 to 9.5 gallons of water are required for 3.7 liters of gasoline). Water treatment systems typically require about two tons of impure water to produce one ton of pure water. That is to say, what a ton of hydrogen actually needs is not 9 tons of water, but 18 tons of water. Taking losses into account, the ratio is close to 20 tons of water per ton of hydrogen. The problem is energy consumption, not water use. Seawater desalination produces 0.035 kWh per kg H2. Then you let the water burn again. However, look at the average grid water usage per kWh of electricity. Making 50-65 kWh to make 1 kg of H2 requires far more than 9 kg or even 18 kg of water. The problem with hydrogen is energy use, not water use. The lowest cost green hydrogen will be produced in the deserts of the western US where there is an ocean, so there is no shortage of desalination.

[@jerryjoynson]

@@evelyncy1327 My comment was addressing a very low cost way to improve overall system efficiency , which also reduces the environmental burden of creating excessively cold seawater locally. Seawater is usually used to boil the Liquid NG so that it can be added to the gas pipeline network and consumed in gaseous form. The heat of vaporisation is taken from the ocean. The pumping costs money and energy, and has a detrimental impact locally. My comment has nothing to do with H2 production, nor desalination of seawater.

[@evelyncy1327]

@@jerryjoynson We are working on the production of the hydrogen energy project, can I get your better opinion? Do you use other contact methods?

[@grunky0]

Germany should open a floating LNG port in Wilhelmshaven by January 2023.

[@Ukit50]

IN service few week ago

[@JazzaSLam]

In Europe We do not have "energy crisis"! We Have a very deep political crisis with a very expensive virtual reality "democracy"!

[@louieuy7607]

I once had a discussion with an acquaintance from Europe that one day the US would be supplying his country with natural gas. He scoffed at the idea. That was 2 years ago.

[@redwater4778]

Trump set out to take the market from Russia soon after taking office.

[@lv3609]

You should be aware that in USA, even among the “petrolheads”, there’re those who oppose USA shale gas exports because it increases domestic natural gas prices (currently, today, $4 in USA if I’m not mistaken). And we in Europe should tread the red line very very carefully, because even if there are some USA suppliers that are eager to export shale gas, there’re some of “America 1st” who oppose USA natural gas exports (because prices go up) and they’re a very vocal group and you cannot easily reason with them. A destabilization of USA, because of energy prices increase, consequently exacerbating deep polarization in USA politics, this serves no-one in Western world economy. Again, Europe should tread the red line very carefully, in constant dialogue with USA government.

[@danielhutchinson6604]

@@lv3609 After a year they go back to Russian Gas and tell the US to keep their overpriced product. But one hell of a lot of European Tourists will only have enough disposable income to support a trip to the Store. There goes 20% of a lot of US Hospitality business. But there might be camping spaces in Yellowstone.

[@lv3609]

@@danielhutchinson6604 USA have a powerful economy on their own, they don’t need Europeans. Just as an example, New Years celebrations had Carabeans overbooked, sold out from rich Americans on yachts, cruises and other. USA hospitality sector will be fine, the market for most part is inelastic, icons like New York, California, San Francisco. Incidentally, I live in Southern Europe, today I was waiting in a dentist waiting room and casually listening to this 2 girls middle-class one of them showing pictures of her trip to New York, the snow storm and the activation of “state of emergency”. I don’t think Europeans will return to Russian like before, if they ever return to Russian natural gas. The European industry will change, (and I hoping there won’t be too much de-industrialization), markets of energy and markets of primary industry like rolls of steel sheets, aluminum, chemicals derived from natural gas, these markets will rotate. USA will be beneficiary, but also India, China and Asia in general.

[@MetaView7]

@@lv3609 The american hospitality sector is booked now because of the pent-up demand from 3 years of no-travel.

[@robertvalence7899]

At 1:39, why are they showing the leak from the NordStream pipelines in the Baltic?

[@lonhamlala6846]

So here in Greece we give electricity to Europe. So why we have the most expensive electricity? Is not Europe guys u are alone is about power and control.

[@bdogmccool8096]

The UK has 3 LNG terminals and has been feeding Europe gas from these all year

[@Ukit50]

Dragon LNG

[@Ridz149]

0:18 do you mean the continent?

[@baaf777]

Great report Julianna! 👍

[@desio40]

Yeah yeah dodging energy crisis by buying LNG gas 4 times more expensive from our US "allies".

[@samuelfitzpatrick9739]

What's going to happen when they are not getting enough LNG?

[@liapenny]

Very exciting news!

[@notapplicable4567]

So whats the difference between natural gas and artificial gas?

[@bite-my-shinny-metal-ass]

The first one comes out of your a## 😂😂😂

[@theodorer8939]

Disclaimer: I'm not an expert, but natural gas is found in the ground while the artificial one is produced from crude oil

[@timothyball3144]

What I'm worried about is her wearing a blue safety vest in a facility with all of that blue paint.

[@GeotouuotoeG]

First they announce a new nato base in Ukraine. Putin starts a war and closes gas to Europe then Europe buys gas from USA in double the price. Well done USA. People will never forget this

[@dumbestyetfunniest7745]

Lebanon has gas too. Just saying.

[@TheWebstaff]

Why on earth are they cooling the sea? Why not generate electricity with the cooling?

[@xpengfangirl7942]

the sea gets very hot in summer and tourists need it cooler

[@immortal2534]

There is only one way, we should be self-sufficient by renewable power sources and have no need by external countries. Greece should and can do it! I'm hoping for the future!

[@johnnyllooddte3415]

you also have israel, cyprus and afrikkan supplies. even egypt has a YUGE find recently

[@m.k2593]

Turkish cyprus yes and Turkiye also

[@NN-uf6hb]

@@m.k2593 no such thing as Turkish Cyprus it’s only recognized by Turkey. It’s illegally occupied Cyprus.

[@jasonhaven7170]

What's White South Africans got to do with anything?

[@nobody....168]

Israel must push for EASTMED pipeline. Greece cannot persuade the us alone.

[@watchrestore1682]

@@m.k2593 there is No turkish👎🏼 Cyprus👎🏼 my friend, there is only one CYRPRUS🇨🇾🇨🇾🇨🇾... THE REPUBLIC OF CYPRUS 🇨🇾🇨🇾🇨🇾❤️🇬🇷🇬🇷🇬🇷

[@rabuanmantine8522]

Now EU can proudly claim that they don’t buy Russian gas!🤪

[@johnmandiram]

Not buying Russian Gas is a lie...........

[@King_ofNight]

Russia : send me the coordinates please (Red Salute)

[@jarrodgill7576]

Russia couldn’t hit themselves in the nuts.

[@user-og8zx2fe4n]

@@jarrodgill7576 😂😂😂

[@goatrockhunters8000]

What happened to all the promises of “green energy” Europeans spent trillions on over the past 2 decades???

[@user-mw9nn6gr6v]

Aah yes nothing better than helping my European fellas.

[@luci75d76]

I am not worry for Greece or Romania. Worry about : Chehia , Hungary Bulgaria Germany this they are the most hard hit by gas demands. And no other way to import now

[@philipkoene5345]

Germany has brought a LNG terminal online a couple of days ago and three more will come online in the coming months

[@vasiliyt8600]

Not for long. The new pipeline between Greece and Bulgaria will be ready for use in a couple of months. This pipeline will also help other countries that are low on gas demand.

[@vasiliyt8600]

@Martin Baldwin-Edwards This is not true. I am from Greece. The price is actually lower than the EU average. But It's not about the energy price. Natural Gas has more uses than just generating energy. It's heavily used in the industry. Metallurgy, chemicals, etc.

[@Ukit50]

@@vasiliyt8600 TANAp Tran Anatolia gas from Azerbaijan that branch out from Greece Bulgaria inter connector is in service to supply gas

[@vasiliyt8600]

@@Ukit50 The TANAP won't be for long the major supplier. It will work, until the Greek-Bulgarian pipeline is ready to carry natural gas. This new pipeline is almost finished and will begin within the 1st semester of 2023.

[@dufus7396]

Security will need boosting there

[@user-sd2cz8fk2u]

There is a huge Greek navy base nearby.Greek special forces have base there also.

[@hemantparakh6462]

A 2Khz Trade would help the European Union to solve it's energy crisis

[@kreb7]

If only Renewables were pushed hard and not some interests did Russias beating and block and frustrates the progress

[@84Magnus]

What a waste of accumulated energi. Instead of heating it with sea water. Transport it liqufied, then inland gasify it nearby a freezing facility or big ac units where the cold can be recoverd and used.

[@davidtate166]

It sail from Japan to Borneo and back.

[@Chobaca]

It's called fossil gas!

[@panayiotisyannopoulos2668]

Well natural gas is really not that “natural” as also “renewables” are not that renewables or Green with the materials they use etc…. Yet natural gas is produced by two way. One is by a process that petroleum degrades to natural gas. The second is by the microbes processing organic matter. Mediterranean has large quantities of the second. Almost pure in form cause it’s bio produced. That needs almost no process prior consumer and it is replenishing itself. In all cases let’s call it methane and be done with it?:)

[@liwuan217]

US don't sell LMG for free. They got Chance to sell their LMG at High price

[@MinusMedley]

Strange calling the US an island...

[@Hellenic_Mythos]

You know us. We the Greeks are warm people

[@mariacheebandidos7183]

will you guys do a report on how you over-blown, exaggerated, ... the "europe energy crisis"

[@salomonballan7415]

Hi Athens , Greece , Ballan entreprises c.a.-Venezuela , Renewable Energies , all my best for the futur of our children . ( Afcharisto , Yassoou ) .

[@DaneDuPlessis]

Shipping expensive fuel from the USA to Europe where Europeans will have to fork out top $$$ for it. Very clever!

[@nothandmade9686]

As someone who lives on the European side of the pond it is wired to hear about gas as anything other another evil fossil fuel. It is amazing what happens when crisis brings reality to the forefront

[@MetaView7]

It is harmful to the environment not to use natural gas. Because if you don't use the gas, it will just be vented into the atmosphere.

[@Johanneslol11]

But what alternative do we have ? I have infrared panels in my house but that is not enough. I rent a house, I am not allowed to put Solar panels on top of it

[@PaulSmith-gi5bf]

The European side of which pond? lol

[@Bryankips]

Availability of Raw Materials and Gas Supply Become Key Factors in the Development of the Manufacturing Industry

[@lummoxx8586]

"secluded far flung areas"....like PA, Ohio and Texas!

[@Reotha]

"The unsung hero" lol. Hero if its europe but dirty if it's any other country either than europe

[@liberty-matrix]

Now Europe pays allot more for energy and China pays allot less.