Thursday, April 17, 2014

7 Must-Read Stories and Charts for Thursday

1. US export uncertainty unsettles global LNG industry
Where once 10 LNG projects worldwide were predicted to get sanctioned for construction in 2013, just one actually did, Yamal LNG in Russia.

A variety of forecasts agree more LNG plants are needed to meet global gas demand in the coming decade. A rough consensus is that 150 million metric tons of additional production -- about 20 billion cubic feet a day -- will be needed worldwide.

"Demand is rising strongly. There are many new markets. ...  As an industry, we are failing, year-on-year, to meet the targets we set ourselves," Houston told some 1,200 conference attendees from across the globe.

2. EIA: US natgas storage up 24 Bcf to 850 Bcf for week ended Apr 11. 
This is below expectations.  Natgas in storage is below a year ago and below the 5-year avearage. Year ago: 25 Bcf injection. 5 year avg: 37 Bcf build.

Note: It’s possible that late season heating demand is holding up better than expected.

3. The gold held by the SPDR Gold Shares ETF (GLD) has dropped below 800 metric tonnes again for the first time since February 12th. IKN has the chart ...

And from the GoldCore blog: Assets in the largest gold-backed exchange-traded product sank the most this year. New York's SPDR Gold Shares, reported outflows of 8.39 tonnes on Wednesday, the largest one day decline in its holdings since December 23. That has erased almost its entire inflow for the year, with its holdings currently at 798.4 tonnes, against 798.22 on December 31.

4. Is Putin’s Next Move to Take Over Odessa?
There are increasing signs that the unrest in eastern Ukraine is spreading, and Odessa, the country’s third-largest city, could be the next to fall.

5. Ukraine Currency Collapses Nearly 70% Against Gold In 4 Months
In Ukraine, the economy is nearing collapse and the currency is in free fall. The Hryvnia has been the world’s worst performing currency in 2014. This week alone the currency has fallen by 7% against gold.

"Once again, the lucky few who own physical gold are being protected from the currency collapse. They are in a position to buy food, water, property, land, businesses and other income generating and life sustaining essentials."

6. The 1% Wants to Ban Sleeping in Cars Because It Hurts Their 'Quality of Life’
Across the United States, many local governments are responding to skyrocketing levels of inequality and the now decades-long crisis of homelessness among the very poor ... by passing laws making it a crime to sleep in a parked car.

7. Fascinating Chart from Jesse's Cafe Americain ...

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