美国国家公共电台 NPR--Supply and demand issues are at the root of lower natural gas prices in the U.S.

Supply and demand issues are at the root of lower natural gas prices in the U.S.

Transcript¹

NPR's Leila Fadel talks to Bloomberg reporter Stephen Stapczynski about why natural gas prices are falling in the U.S., but soaring in Europe and Asia.

LEILA FADEL, HOST:

Shell signed a huge deal this week to invest in a liquefied natural gas project in Qatar. When the plant is finished in 2026, it will boost that country's production capacity by 40%. But for now, the price of natural gas is coming down in the U.S. but shooting up in Europe and Asia. I asked Stephen Stapczynski, an energy reporter for Bloomberg who's based in Singapore, why the contrast?

STEPHEN STAPCZYNSKI: One of the reasons why U.S. natural gas prices are falling and Asian and European prices are surging as of late is because of a fire at a key U.S. LNG export facility called the Freeport plant, which is in Texas. Now, that facility caught fire and shut last month. That trapped more natural gas in the domestic American market, leaving less to be exported abroad. So therefore, U.S. gas prices fell because there was more supply. And it cut off vital supplies to Europe and Asia. Therefore, prices abroad jumped. The U.S. has, over the last two decades, turned from a net natural gas importer to a net natural gas exporter for LNG. If all the facilities run the way they're supposed to, the U.S. could become the world's biggest LNG exporter this year, overtaking Qatar and Australia. Now, Qatar also has a lot of LNG. And Germany and other countries, including Pakistan, are going to Qatar to try to sign deals. But the fact of the matter is there just isn't enough LNG to fill the gap left by Russia.

FADEL: Now, one of the big issues you explore in your report on is infrastructure² and the importance of these different plants and how liquefied natural gas is moved around the world. Why is this important in the context of these rising prices and dependency on the gas?

STAPCZYNSKI: So let's first look at supply. There just isn't enough facilities to export liquefied natural gas around the world to meet the rising demand in these markets in Europe, in Asia, South Asia, parts of Latin America. The reason for that is there was a bit of a lack of investment over the last decade in LNG export facilities due in part to folks looking at the energy transition and not wanting to be locked into these giant, expensive, multibillion dollar facilities that might not operate for a few years if folks were to shift to renewable energy. So there's no quick fix. Europe is very dependent on Russian natural gas via pipeline³. But as those pipeline flows are being curbed⁵, they need to import more liquefied natural gas. And for example, Germany doesn't have any LNG import infrastructure at all right now, so they have to quickly bring some online to get that gas.

FADEL: And they're dependent on Russia for that gas, and they have no way of supplying it to themselves?

STAPCZYNSKI: Exactly.

FADEL: So this is not about not having enough gas, it's about not being able to get the gas to where it's needed?

STAPCZYNSKI: That is one way to look at it. There is plenty of gas, for example, in the United States. There are these massive shale⁶ fields that can produce a lot of gas, but it's trapped in the United States. It's just a huge endeavor. And it's a complicated system because LNG, unlike oil or coal, you can't just throw it onto any normal ship. You have to make special ships. You have to have special infrastructure. You can do it at every port. It's a complicated process.

FADEL: Can you talk about parts of the world where prices have gone up so much that they're not getting the gas they need and what it's doing to these countries?

STAPCZYNSKI: Sure. So you look at a country like Pakistan, for example, in South Asia, they've, over the last few years, become very dependent on liquefied natural gas imports. There's an acute shortage of LNG in Pakistan. And they can't just go into the market and buy more because, one, there aren't shipments available. And the shipments that are available are exceedingly expensive. So because of that, Pakistan doesn't have enough fuel for its industries and for its power plants. And there are some parts of the country that now have, essentially⁷, planned blackouts for 12 hours, more than 12 hours, in a day.

FADEL: And now, you've mentioned that this is hitting people over the holiday and impacting whether they can cook, you know, how it's affecting that Eid holiday for them.

STAPCZYNSKI: Exactly. This weekend is one of the holidays in Pakistan. And it's an important one. And unfortunately, there might be households that don't have fuel, don't have electricity, don't have ability - you know, air conditioners when they're gathered. And it's going to make it very challenging.

FADEL: So what's the solution here? I mean, so many places are now dependent on liquefied natural gas. You describe this moment for liquefied natural gas as similar to the 1970s for oil.

STAPCZYNSKI: In the immediate⁸ short term, there's nothing that can be done. There's not enough supply that can come online for the next few years. So it's really something that's called demand destruction, which is where people just consume less. Another thing that countries could do is shift to other fuels. Now, natural gas is a fossil fuel. But when burned in a power plant, it's cleaner burning than coal or diesel⁹ or other fuel oils. What could happen is Pakistan or other cash-strapped nations could go back to these dirtier fossil fuels. That would cause more emissions¹⁰. That would hurt any effort globally to curb⁴ CO2 output.

FADEL: So a step back when it comes to climate change?

STAPCZYNSKI: Absolutely. You know, I think that this is a moment for some countries. And they're going to say, instead of going back to coal or diesel, this is our moment to invest more, double down on renewable energy, double down on the future of green fuels like green hydrogen, green ammonia. And that is being done in Europe. It's more challenging for countries like Pakistan that maybe doesn't have a grid¹¹ that can be easily adaptable¹² to renewables. Maybe that can be fixed¹³. Maybe there can be a large investment from international organizations to help with financing large renewable energy projects in Pakistan. But it's - in the short term, when they're dealing¹⁴ with these acute energy shortages, it is challenging for them to make such shifts. But this is definitely a moment. And this could be a wake-up call for a lot of the power industry to push further towards renewables.

FADEL: Stephen Stapczynski covers energy markets for Bloomberg. Thank you so much for being on the program.

STAPCZYNSKI: Thank you for having me.

(SOUNDBITE OF THE BEST PESSIMIST'S "OCEANICA")

1 transcript   

n.抄本，誊本，副本，肄业证书

参考例句：

• A transcript of the tapes was presented as evidence in court.一份录音带的文字本作为证据被呈交法庭。
• They wouldn't let me have a transcript of the interview.他们拒绝给我一份采访的文字整理稿。

2 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

3 pipeline   

n.管道，管线

参考例句：

• The pipeline supplies Jordan with 15 per cent of its crude oil.该管道供给约旦15%的原油。
• A single pipeline serves all the houses with water.一条单管路给所有的房子供水。

4 curb   

n.场外证券市场，场外交易；vt.制止，抑制

参考例句：

• I could not curb my anger.我按捺不住我的愤怒。
• You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。

5 curbed   

v.限制，克制，抑制( curb的过去式和过去分词 )

参考例句：

• Advertising aimed at children should be curbed. 针对儿童的广告应受到限制。 来自辞典例句
• Inflation needs to be curbed in Russia. 俄罗斯需要抑制通货膨胀。 来自辞典例句

6 shale   

n.页岩，泥板岩

参考例句：

• We can extract oil from shale.我们可以从页岩中提取石油。
• Most of the rock in this mountain is shale.这座山上大部分的岩石都是页岩。

7 essentially   

adv.本质上，实质上，基本上

参考例句：

• Really great men are essentially modest.真正的伟人大都很谦虚。
• She is an essentially selfish person.她本质上是个自私自利的人。

8 immediate   

adj.立即的；直接的，最接近的；紧靠的

参考例句：

• His immediate neighbours felt it their duty to call.他的近邻认为他们有责任去拜访。
• We declared ourselves for the immediate convocation of the meeting.我们主张立即召开这个会议。

9 diesel   

n.柴油发动机，内燃机

参考例句：

• We experimented with diesel engines to drive the pumps.我们试着用柴油机来带动水泵。
• My tractor operates on diesel oil.我的那台拖拉机用柴油开动。

10 emissions   

排放物( emission的名词复数 )； 散发物（尤指气体）

参考例句：

• Most scientists accept that climate change is linked to carbon emissions. 大多数科学家都相信气候变化与排放的含碳气体有关。
• Dangerous emissions radiate from plutonium. 危险的辐射物从钚放散出来。

11 grid   

n.高压输电线路网；地图坐标方格；格栅

参考例句：

• In this application,the carrier is used to encapsulate the grid.在这种情况下，要用载体把格栅密封起来。
• Modern gauges consist of metal foil in the form of a grid.现代应变仪则由网格形式的金属片组成。

12 adaptable   

adj.能适应的，适应性强的，可改编的

参考例句：

• He is an adaptable man and will soon learn the new work.他是个适应性很强的人，很快就将学会这种工作。
• The soil is adaptable to the growth of peanuts.这土壤适宜于花生的生长。

13 fixed   

adj.固定的，不变的，准备好的；(计算机)固定的

参考例句：

• Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
• Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。

14 dealing   

n.经商方法，待人态度

参考例句：

• This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
• His fair dealing earned our confidence.他的诚实的行为获得我们的信任。