In this week's highlights: oil demand recovery remains at the fore; the now completed Nord Stream 2 gas pipeline examines next steps; the German energy industry meets for its annual conference; and London International Shipping Week kicks off.
- IEA, OPEC reports, African oil in focus (00:14)
- Gas market looks to timing of Nord Stream 2 startup (01:29)
- German power industry meets ahead of election (02:05)
- Disruption and recovery at London Int. Shipping Week (02:36)
In this week's highlights: the now completed Nord Stream 2 gas pipeline examines next steps, the German energy industry meets for its annual conference, and London International Shipping Week kicks off.
But first, in oil markets, demand recovery remains at the fore, as mobility levels rise, while the impact of Hurricane Ida on Gulf of Mexico oil fields is offsetting a planned release of crude reserves by China. We'll also bring you the latest insights from OPEC and the International Energy Agency, which publish their monthly oil market reports today and Tuesday respectively. European refiners continue to watch Libya's stop-start industry recovery, with a feud between the government and state-owned National Oil Corp having disrupted loadings this month. S&P Global Platts Analytics views the lack of stability in Libya as the most obvious near-term threat to global supply.
Elsewhere, the Africa Exploration & Production conference hosted by the Petroleum Exploration Society of Great Britain kicks off on Tuesday, while top Russian oil industry officials address the Tyumen Oil & Gas Forum in the country's West Siberian heartland. And that takes us to our social media question for the week: What is the biggest short-term threat to global oil supply? Tweet us your thoughts using the hashtag #PlattsMM.
In European gas, the Nord Stream 2 gas pipeline from Russia to Germany was fully completed on September 10, with focus now firmly on when the link will become operational. Before flows can start, the operator must be certified as an independent transmission network operator, which could still take months to be finalized. The official goal of the Nord Stream 2 operating company is for operations to begin before the end of 2021. With European gas prices at record highs, the availability of Nord Stream 2 could play a major role in market dynamics through the upcoming winter.
Also in Germany, the country's energy industry gathers for its annual conference on Wednesday to discuss pathways to its 65% greenhouse gas reduction target by 2030.
Chancellor Angela Merkel is to address the conference for a last time ahead of a general election on September 26. Polls indicate a tight race, with rising energy costs, ambitious climate goals and the phasing out of coal, all major topics of concern.
London International Shipping Week kicks off today, with virtual and in-person events hosted by maritime business leaders from around the world. The theme this year is "Driving growth and recovery in a disrupted world." The headline session on Wednesday features speakers from the International Maritime Organisation, the UK government, and many major global shipping companies. S&P Global Platts is hosting a webinar on Tuesday with BIMCO and another on Thursday, focusing on the containers market and fuels of the future.
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Thanks for kicking off your Monday with us and have a great week ahead!