🔹Russia's western enclave of Kaliningrad 🇷🇺 received its first cargo ship via the Northern Sea Route (NSR). The route runs from the Arctic city of Murmansk in northwestern Russia to the Bering Strait in Russia's Far East. The vessel made a stop in the port town of Baltiysk while en route to St. Petersburg from Shanghai, China 🇨🇳.

🔹Last month, a shipment of LNG 🚢 produced at the Complex near the Portovaya CS (compressor station) was the first LNG shipment in history produced by Gazprom to be transported via the NSR to China, (Tangshan LNG import terminal). Gazprom's private competitor Novatek PJSC has already been using the NSR ⚓️ to deliver gas to China.

🔹This year there have been roughly a dozen shipments of Russian oil using Russian vessels to China via the NSR. In prior years there were no oil deliveries via the Arctic to China except one trial voyage in late 2022.

🔹 The NSR is reshaping global energy flows as it now takes half the time for a tanker from Russia to arrive in Asia instead of taking the conventional route through the Suez Canal 🇪🇬. The navigation along the NSR will be fully provided with operational and high-quality ice situation information from a Russian satellite 🛰 group within the next two years.

🔹 Russia wants the NSR, the shortest shipping route between East Asia and Europe, to become a major shipping lane and has invested heavily in infrastructure there. Rosatom is discussing with Lukoil and Gazprom Neft oil companies on the possible redirection of part of the Arctic oil🛢 from the west to the east along the NSR.

🔹US 🇺🇸 Navy unmanned platforms (aided by ships/aircraft) continue to conduct enhanced maritime security operations in the Strait of Hormuz for “tracking” Iranian navy and IRG ships/small boats in the region. Iran 🇮🇷 has always said that the presence of extra-regional states in the Persian Gulf has brought nothing but insecurity for the region.

🔹The US media are making allegations that Iran is backing Hamas operations in Palestine🇵🇸, creating a future pretext for justifying Israel 🇮🇱 to possibly unleash an attack on Iran. US national security spokesperson J. Kirby without evidence has said that "Iran is complicit".

🔹However, any direct attack on Iran could result in the country blocking oil shipments through the Strait of Hormuz, which is a major shipping lane that carries about 20-30% of the world's oil 🛢to various markets. Attacking Iran can also backfire on the Biden admin because the US Strategic Petroleum Reserves hasn't been this low 📉 since 1983 and the US plans to refill, so therefore higher oil prices will further delay refilling. Brent crude is presently $86.68 per barrel.

🔹The US is now breaking/reneging their agreement with Iran where $6bn of Iranian oil funds 💵 held in South Korea 🇰🇷 were unfrozen in September as part of a deal that saw five US-Iranian citizens freed from captivity. Washington is backpedaling its promise by using a "quiet understanding" with go-between Qatar 🇶🇦 not to free up any of the funds for Iran.

🔹The first phone call ever between Iran's 🇮🇷 President E. Raeisi and Saudi 🇸🇦 Crown Prince M. bin Salman took place to discuss the Israel-Palestine conflict and its effects on the region. (Both countries recently resumed diplomatic ties after 7 years of tensions).

🔹Qatar 🇶🇦 refuses to bow to US pressure to withhold $6bn of frozen Iranian oil funds. Qatar's PM and FM Mohammed bin Abdulrahman Al Thani said "Qatar is always committed to any agreement, and every step must be done through consultations with other partners that fund". He said Qatar will focus on the priorities of their brothers in Gaza and reduce tensions in the region.

🔹The Governor of Qatar's Central Bank, Sheikh B. M. Saoud Al Thani, asserted that his country is fully committed to all its obligations with Iran, and there is no obstacle to bolstering banking relations between the two countries. The funds would be provided to Iran through SWIFT and Letters of Credit. Iran’s 🇮🇷 FM Hossein Amirabdollahian arrived in Qatar’s capital Doha today (Oct. 14) for talks focusing on the Gaza war.

🔹This week US media reported that the Biden admin were reneging their agreement with Iran where $6bn of Iranian oil funds 💵 previously held in South Korea 🇰🇷 were unfrozen in September as part of a deal that saw five US-Iranian citizens freed from captivity. Washington is backpedaling its promise by using a "quiet understanding" with go-between Qatar 🇶🇦 not to free up any of the funds for Iran.

🔹Qatar, which has already mediated between the belligerents several times in the past — such as during the 2014 Israel 🇮🇱-Gaza 🇵🇸 War — is back at the negotiating table. But Qatar froze relations with Israel in 2009 and is widely known as a major financier of Hamas. Hamas chief Ismail Haniyeh has resided mostly in Doha since 2012, and the political bureau of Hamas is located in the Qatari capital.

🔹Mark Wallace, a former US rep. at the UN 🇺🇳 says those responsible for the attacks on Israel have been operating with the help a “purported” American ally (Qatar). “We should not hesitate to act militarily on Qatari soil to bring to justice Ismail Haniyeh and Hamas leadership".

Note: The Al Udeid Air Base in Doha houses the US 🇺🇸 Air Force and is host to a forward HQ of US Central Command.

Video source: Al Jazeera

Part I - US 🇺🇸and EU foreign policy along with the EU's 🇪🇺 failing domestic energy policies jeopardize the interests of Europeans energy security in natural gas markets.

🔹Europe is very susceptible to volatility swings in natural gas markets. Early signs last week show that European gas markets do not have resilience and a strong buffer to reduce the effect of any disruption to supplies. For example, on Oct. 9th & 10th, the front-month Dutch TTF futures soared 📈 15% & 12% respectively due to shutdown of an offshore pipeline between Finland and Estonia, despite Europe's LNG storage facilities being over 95% full. The November TTF contract soared 40% last week also due to the Israel 🇮🇱 - Palestine 🇵🇸 conflict.

🔹Qatar 🇶🇦, last week signed a 27-year gas supply deal with France's Total (deliveries start in 2026). The Qatari Foreign Ministry has already petitioned the EU to pressure the 'Zionist regime' in Israel to stop the military strikes on Palestinians. But, Israel's envoy to Brussels is calling for the EU to pressure the Palestinian Authority and sanction Lebanon.

🔹Despite TTF futures being one-third the price from highs 1-year ago, Europe is now subjected to sourcing LNG around the world, making it prone to supply snarls. Accustomed to cheap Russian 🇷🇺 pipeline gas, European buyers are finding out that the LNG 🚢 spot market have very different rules, which ultimately resulted in higher—much higher—prices when a new buyer as big as the EU 🇪🇺 appeared on the stage.

🔹This means higher prices for longer. And even higher prices and the constant threat of a price shock in case of supply disruption. Volatility this winter could mean higher bills for households, as well as industrial gas consumers. Price levels and price volatility are two distinct concepts. A constant volatility at higher prices results in a greater dollar value price change at those higher prices.

Link to Part II - https://news.1rj.ru/str/TheParadigmShiftChannel/1919

Part II - US 🇺🇸and EU foreign policy along with the EU's 🇪🇺 failing domestic energy policies jeopardize the interests of Europeans energy security in natural gas markets.

🔹A full energy crisis last year was avoided after LNG imports to Europe ballooned from 80 bcm in 2021 to 130 bcm in 2022, more or less replacing all the missing Russian gas. EU imports of Russian LNG were up 40% between January and July 2023. The EU is set to import record volumes of LNG🚢 from Russia 🇷🇺 this year, despite claims of cutting reliance on Russian energy.

🔹The EU 🇪🇺 have worked so hard to wean themselves off piped Russian gas only to replace it with more expensive shipped equivalent from the US, Russia and others. EU officials have pointed to an overall effort to phase out Russian fossil fuels by 2027. EU energy ministers plan to ban Russian and Belarusian 🇧🇾 co.' s booking capacity on EU LNG infrastructure in an effort to find a legal way to prevent imports.

🔹European gas markets is exposed to volatility now from:

🔸US & EU's failed sanctions against Russian energy suppliers
🔸Sabotage of Russia-Germany 🇩🇪 Nordstream pipelines redirecting Russian gas to Asia

🔸Egypt's 🇪🇬 reduced LNG exports due to the shutdown of Israel's 🇮🇱 Tamar gas field
🔸Worker strikes at West Australia's LNG hub

🔸India 🇮🇳 and Pakistan 🇵🇰 back on the spot market driving demand
🔸Any increase in Chinese 🇨🇳 LNG demand

🔸Any black swan event amid the US & EU's lack of diplomacy towards Iran 🇮🇷
🔸Any US LNG disruption. (last month 52% of all US LNG cargo's were destined for Europe, same for August as well)

Video source - Thinkers from India - Global

Link to Part I - https://news.1rj.ru/str/TheParadigmShiftChannel/1918

A Commonwealth of Independent States (CIS) Heads of State Summit and Foreign Ministers Council were convened on October 11-13 in Bishkek, Kyrgyzstan. 🇦🇲🇦🇿🇧🇾🇰🇿🇰🇬🇷🇺🇹🇯🇹🇲🇺🇿

🔹Russian President Putin noted that the leaders of the CIS countries are still people who are guided first and foremost by national interests as they face secondary sanctions for conducting business with Russia and Belarus. Despite these threats, economic ties and exchanges within the CIS are constantly expanding. He also expressed that CIS nations should expand the use of payments in national currencies.

🔹 The CIS FM's approved a proposal by Kazakhstan to create the categories of observer countries and partner countries for the group.

🔹Tajikistan's President E. Rahmon, stressed on the continuous implementation of the CIS economic development strategy due to growing threats to economic security.

🔹Russia will assume the CIS Presidency in 2024 and will focus on integration processes in the CIS space, in particular to strengthen the Commonwealth’s contacts with the EAEU in the economic sphere and with the CSTO and SCO in the field of security.

🔹 Russia is ready to assist Armenia and Azerbaijan to work towards and facilitate the signing of a peace treaty.

🔹Russia believes that the Israel-Palestine conflict can only be resolved through negotiations aiming to create an independent Palestine with East Jerusalem as its capital.

New Eastern Outlook Notes:
🔸Central Asian countries are experiencing unheard-of growth, much due to Russian businesses moving to the region. Tajikistan’s 7.5% GDP growth, Uzbekistan’s predicted 6.5%, Kazakhstan at 5%, followed by Kyrgyzstan seeing 4.6% GDP growth, despite sanctions and treat of secondary sanctions by Western countries.

🔸It seems former Soviet republics would want to benefit from Western stupidity. Despite the West pulling out all the stops against Russia, many countries worldwide are benefitting from and helping the Russian economy.

Video source - ShanghaiEye and MFA Russia

🔹The third Belt and Road Forum for International Cooperation (BRF) was held in Beijing, China 🇨🇳 on October 17-18. At the BRF, 458 outcomes were achieved and over 10,000 participants attended from more than 150 countries and 40 international organizations. Business deals worth $97.2 billion were also reached at the CEO Conference held during this forum.

🔹China also signed 🖋a slew of bilateral agreements with many countries, including a free trade agreement with Serbia. Since Chinese President Xi Jinping proposed the in 2013, China had signed more than 200 BRI cooperation agreements.

🔹China 🇨🇳 vowed more financing support for Belt and Road Initiative (BRI) projects on the basis of market and business operation, with two policy banks each setting up a 350 billion yuan ($48.75 billion) financing window and an additional 80 billion yuan injected into the Silk Road Fund. China will carry out 1,000 small-scale livelihood assistance projects.

🔹China's FM Wang Yi summarised the forum's achievements.
🔸Sending a clear signal of unity, opening-up and win-win cooperation.
🔸Consensus reached to take the BRI into a new stage of high-quality development.
🔸Vision to jointly achieve global modernization.
🔸The most prominent feature at the forum was action-oriented efficiency and pragmatism.

🔹Wang expressed willingness to link the BRI with the EU's 🇪🇺 Global Gateway strategy to play out the advantages of both China and the West. Wang said that viewing the US 🇺🇸-proposed Partnership for Global Infrastructure and Investment as a counter to the BRI is a means to politicize economic issues, which is short-sighted as well as negative.

Video sources - CGTN

The de-industrialisation of Germany 🇩🇪- Part 11:

🔹The HCOB German Flash Composite Purchasing Managers’ Index, fell 📉 to 45.8 in Oct. from Sep.’s 46.4, below the 46.7 forecast, as GDP declined 0.2% in the quarter through Sep.

🔹Cancellations in the residential construction sector has hit a 30 year high 📈. Umland of Egeln, is declared the first municipal housing co., to be in insolvency proceedings.

🔹230 year-old fine tin-glazed pottery 🏺business Zeller Keramik of Ortenaukreis, has filed for bankruptcy.

🔹Biebelhausener Mühle GmbH (a traditional baking co. 🍞) based in Ayl-Biebelhausen since the 17th century declares insolvency.

🔹Bankruptcies on a y-o-y basis in manufacturing increased by 22.6%, in retail went up by 18.5% and in the service sector rose by 16.7%.

🔹Siemens Energy AG faces mounting issues with malfunctioning turbines and unprofitable contracts, set to push the co. to a €4.5 billion 🔻 ($4.8 billion) net loss this year. The co. may be considering shutting down Siemens Gamesa factories and sales offices.

🔹Survey among 115 works council chairmen showed that 44% of automotive suppliers are considering relocating their production abroad. The investments of German companies abroad were 125 billion euros higher than the simultaneous investments of foreign companies in Germany.

🔹Wholesale prices declined 4.1% y-o-y to the lowest level in Sep., marking the most significant drop since May 2020, signalling a weakening demand environment.

Previous parts on the de-industrialisation of Germany 🇩🇪:

💠 Part 10 - Sep. '23

💠 Part 9 - Aug. '23

💠 Part 8 - Jun. '23

💠 Part 7 - May '23

💠 Part 6 - Mar '23

💠 Part 5 - Feb. '23

💠 Part 4 - Jan. '23

💠 Part 2 and Part 3 - Nov. '22

💠 Part 1 - Oct. '22

Video source - dieBasis

🔹Derivatives that protect against a default by China's 🇨🇳 Country Garden Holdings Co. may be triggered after the developer didn’t pay interest on a dollar bond.

🔹The US 🇺🇸 Headquartered ISDA Credit Derivatives Determinations Committee, which oversee the credit default swaps (CDS) market, ruled a failure-to-pay credit event occurred on Oct. 18. Today a meeting is being deliberated on whether Country Garden missing a $15.4 million coupon payment, even after being given a 30-day grace period triggers CDS payouts.

🔹An independent corporate bond research team, said the co. has not yet officially declared a default, leaving investors in a state of uncertainty. Country Garden had 3,121 projects in Mainland China as of the end of 2022, financed by $50 billion in debt. That includes $10 billion in offshore bonds that are denominated in US 💵dollars, $2 billion in Chinese yuan, and 880 million in Hong Kong dollars.

🔹Meanwhile, one month ago, trading of Evergrande shares were halted on the Hong Kong 🇭🇰 Stock Exchange amid mounting concern over the company's plan to restructure and fend off the looming specter of liquidation. Police detained staff of Evergrande’s wealth management unit after the co. failed to repay investors.

🔹Country Garden missing this interest payment marks another low for China's current real estate 🏢 market. Evergrande which was declared to be in default in 2021 after missing a crucial repayment deadline, continues to struggle to meet the interest payments on its debts.

🔹A few days after the US 🇺🇸 ratcheted up controls on semiconductor exports to China 🇨🇳, Beijing announced that graphite sales from China will require a license as of Dec. 1st 2023. China's commerce ministry said the restrictions on graphite exports are not targeted at any specific sector. Graphite is the basis of the anode, or negative pole, of EV 🔋batteries, accounting for up to half their weight. More than 90% of anode-ready graphite is produced in China.

🔹Graphite can either be mined or derived synthetically from petrochemicals 🛢. Synthetic production is common but the pollution involved negates the underlying purpose of going green with EVs. Türkiye 🇹🇷 and Brazil 🇧🇷 hold the largest reserves of natural graphite followed by China which accounts for 80% of mine production, however.

🔹China 🇨🇳 recently imposed restrictions on exporting rare earth elements gallium and germanium that are crucial to parts of the semiconductor, telecommunications and EV industry. China produces ⛏60% of the world's germanium and 80% of gallium. Both metals are byproducts from processing other commodities such as coal and bauxite.

🔹The 'green revolution' touted by many western countries, is rapidly depleting available rare earth element neodymium (Nd) and also causing pollution. Nd is essential to make permanent magnets 🧲 for electric motors ⚙️ and wind turbines. The Bayan’obo district of the Inner Mongolia Autonomous Region, China, has an open pit mine for rare earth's including Nd. Each metric ton of rare-earth element mined there necessitates clearing 3,230 square feet of vegetation and topsoil, and releases 1,000 metric tons of contaminated wastewater and 2,000 metric tons of solid or liquid waste tailings.

Video source - HCSS

Part 10 of The Attack on Christian Orthodoxy ☦️.

🔹A ban on Ukrainian Orthodox Church (UOC), has passed a first-round vote by Ukraine's 🇺🇦 parliament. "Draft law number 8371 on the prohibition of religious organizations associated with the Russian Federation 🇷🇺 was adopted after it passed 267 to 15.

🔹If an outright ban on the UOC goes through, despite the church declaring that it cut ties with the Russian Orthodox Church in May '22, church seizures and the arrests of clergymen by the state will only increase.

🔹Police tried to close down the Holy Epiphany Convent of the Ternopil diocese and evicted nuns from there.

🔹 Believers were blocked by Ukrainian authorities from passing through the town of Kremenets to the Pochaev Lavra monastery.

🔹The West/CIA politically created the schismatic Orthodox Church of Ukraine (OCU) (to foster neo-Nazi style nationalism) & undermine the UOC - Moscow Patriarchate.

🔹The Kiev regime continues the persecution of Orthodox Christians especially those who are Russian speakers. Ukraine's Azov Battalion, Right Sector & others have an unabashed profession of state paganism (not very discretely disguised in the form of vicious neo-Nazi political cults) & supports eager acolytes inciting anti-Christian pogroms while flaunting satanic innoscriptions.

💠 Pt 9: Kiev regime supporters with help of police, force out believers from the UOC in Neteshin.

💠 Pt 8: Ukrainian troops shelled Donetsk’s Cathedral during Orthodox Easter Vigil.

💠 Pt 7: The Kiev regime arrests the abbot of the Kiev-Pechersk Lavra & raids church compound.

💠 Pt 6: Neo-nazi arsons burn church of the UOC in Boryspil.

💠 Pt 5: Kiev gov't inciting attacks against the UOC.

💠 Pt 4: Ukraine proposes law to ban the UOC, citing national security issues.

💠 Pt 3: The SBU raids the largest UOC monastery in Ukraine.

💠 Pt 2: Ukrainian militants shell St. Nicholas ⛪️, shot 3 monks & held 800 monks hostage.

💠 Pt 1: The West’s silence about multiple attacks on Russian Orthodox Churches around the world.

🔹US 🇺🇸 - Some officials within the Biden admin. reportedly fear the possible return of high gas prices, especially given their decision to release huge quantities of oil from the strategic petroleum reserve (SPR) in 2021 and 2022. They tapped into the SPR to bring down prices then, but they have not offset those releases. Biden opted to release 180 million barrels of oil from the SPR in late 2021 and 2022.

🔹The SPR has about 350 million barrels 🛢of supply left, it's lowest since 1983. The US Dept. of Energy decided against replenishing it in August citing high oil prices but now the prices are even higher with Brent and WTI crude hovering at $90 & $85 respectively per barrel. The US is now in a vulnerable position if the Israel 🇮🇱-Hamas 🇵🇸 war expands or otherwise disrupts the global oil market.

🔹Democrats slammed the Trump administration in 2020 for attempting to top off the SPR at a time when prices were around $25 per barrel as COVID-19 lockdowns slashed demand, saying that a replenishment would be a handout for 'Big Oil'.

🔹OPEC has, for now, side-stepped calls by Iran 🇮🇷 for an oil embargo against Israel. The OPEC+ ministerial panel made no changes this month to the group's oil output policy (of previous cuts), and Saudi Arabia 🇸🇦 said it would continue with a voluntary cut of 1 million bpd until the end of 2023.

OPINION:

🔹Slovakia’s 🇸🇰 PM Robert Fico is officially sworn in. He campaigned on a pledge to end military aid to Ukraine, recently won most seats in the country's elections but not a majority and has formed a coalition gov't. It would be naive to think Brussels, the US State Dep't and European 'globalist' oligarchic structures are going to have another Victor Orban type 'populist' running around waking up Europeans to reality.

🔹This week he reportedly told journalists - “Ukraine is among the most corrupt countries in the world and we are conditioning what is excessive financial support on guarantees that European money (including Slovak) not be embezzled".

🔹PM Fico has a coalition gov't and is not in the same standing as PM Orban in Hungary whose party has a majority bloc of support. Poland🇵🇱, Austria and the Czech Republic recently introduced border controls for those entering from Slovakia, soft sanctions?

🔹PM Fico believes that the war in Ukraine began not in 2022, but in 2014 ('Maidan coup'), when Ukrainian fascists killed citizens of Russian ethnicity in Ukraine. Ukraine 🇺🇦 recently filed a complaint at the World Trade Organization against Slovakia and others who are keeping their borders closed to importing Ukrainian grain.

🔹Slovakia, along with the Czech Republic 🇨🇿, Hungary 🇭🇺, and Croatia 🇭🇷 have managed to remain exempted from the EU embargo on Russian oil coming into their respective countries via the southern branch of the Druzbha pipeline.

Video source - Euronews

OPINION:

🔹Retired US 🇺🇸 Marine Corps Major General Smedley Butler said it first and said it best: "War is a racket. It always has been...". "It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope.

🔹20 years of low-intensity conflict has conditioned most Americans to view conflict as a video game, a live-action version of “Call of Duty,” where death is minimized as little more than digital entertainment. Today the US is facing off against two global powers, Russia 🇷🇺 (in Ukraine) and China 🇨🇳 (in Taiwan).

🔹Zelensky and his cronies in Kiev 🇺🇦 have milked the NATO taxpayers for tens of billions of dollars and euros through the weapons racket fueling war. European 🇪🇺 defense companies ascend on Kiev in an effort to build ‘in-country’ weapon-manufacturing facilities, as Ukraine is enlisting more 'cannon fodder'.

🔹In the Middle East, current US escalations seem obviously as an attempt to foment a war with Iran 🇮🇷. Hamas having the overall interests of the Palestinians 🇵🇸 at heart is highly questionable because they are a Western/Muslim Brotherhood Construct, used to undermine the PLO and Fatah.

🔹The main corporate beneficiaries making a financial killing from Ukraine are by far the American firms. In the first half of the year, the revenue of the top 25 Western defense contractors increased by 11% to $212 billion.

🔸Note: Below shows each company’s revenues (2022) from defense, and not total revenues. This is because many companies such as Boeing also generate revenue from non-defense related industries and sectors.

Company —- Revenues from Defense (USD billions) ——- Defense share of total revenue (%)

🇺🇸 Lockheed Martin — $633 — 96%
🇺🇸 RTX Corp (formerly Raytheon Technologies) — $396 — 59%
🇺🇸 Northrop Grumman — $324 — 89%
🇨🇳 Aviation Industry Corporation of China — $310 — 37%
🇺🇸 Boeing — $308 — 46%
🇺🇸 General Dynamics — $304 — 77%
🇬🇧 BAE Systems — $252 — 96%

Video source - Canadian Patriot Press

🔹Palestinian Christians have published an open letter to Western church leaders and theologians. “Learn to do right; seek justice; defend the oppressed” (Isa 1:17). It states that Palestinian 🇵🇸 Christians are deeply disturbed when violence and religious national ideologies (ex. Christian Zionism) are advocated in the name of God". In Gaza, the main church denominations are: Greek, Syrian, Coptic, Ethiopian, Armenian Orthodox, Baptist, & Roman Catholic.

🔹The Church of Saint Porphyrius, Greek Orthodox ☦️, is the oldest active church in Gaza, which is the same neighborhood as the Anglican Church run Al Ahli Hospital, that was bombed on Oct. 17. St. Porphyrius was the 5th-century Bishop of Gaza, & he is entombed in the church.

🔹Christians ✝️ in the Middle East, are asking for help to stop Israeli occupation & end the blockade of Gaza. Gaza has almost no electricity and is running out of fuel, water & food. PM of Malaysia (Muslim majority population) D. S. A Ibrahim, have spoken out about the suffering of Palestinian Christians.

🔹Warmongering American Zionist Christian leaders have urged US 🇺🇸 President Biden not to pressure Israel into a ceasefire. The Christian population in Gaza has declined significantly over the years due to Israel taking over new regions of Gaza. Anglican parishioners in the West Bank are “utterly perplexed” by the Archbishop of Canterbury toeing UK 🇬🇧 foreign policy lines at the cost of Christians lives.

🔹Western media fail to report long ongoing Israeli discrimination / attacks against devout Christians worshipping in Jerusalem. Even Orthodox Jews ✡️ in Jerusalem are violently assaulted by Israeli forces for speaking out about the plight of Palestinians.

🔹Christians in southern Lebanon 🇱🇧 who face attacks from Israel, while neglected by the US-supported Lebanese Forces Party are left protected by Hezbollah. The organisation has been protecting Christians and Churches from attacks by ISIS & FSA terrorists in both Lebanon & Syria 🇸🇾.

Video source - Syriana Analysis

PART 1 - A financial crisis is unfolding in the offshore wind power industry.

🔹Ørsted (the world’s biggest offshore wind developer) is ceasing the development of two offshore wind projects in the United States 🇺🇸 due to supply chain delays, etc., which sent its shares plummeting on Nov. 1st by nearly 20% in Copenhagen 🇩🇰. The costs associated with U.S. offshore wind projects have risen by 57% since 2021 due to inflation in components and labor costs, as well as rising interest rates.

🔹The total impairments recognized in Ørsted's interim financial report for the first nine months of 2023 amount to $4 billion, and the majority of these -- $2.8 billion relate to Ocean Wind 1 Project. Just yesterday, BP booked a pre-tax impairment charge of $540 million in the third quarter related to U.S. offshore wind projects.

🔹The UK’s 🇬🇧 latest renewables tender was a flop for the industry—not a single offshore wind bid featured in the auction despite the fact that a record number of renewable energy capacity projects were awarded government funding.

🔹Last Thursday, Siemens Energy shares in Germany 🇩🇪 crashed 37% due to failing quality controls of their wind turbines. In July, this year, Spanish 🇪🇸 utility Iberdrola SA agreed to pay $48.9m in fines to cancel a wind power contract off the coast of Massachusetts.

🔹It's going to get worse as rare earth element neodymium (Nd), used for permanent magnets is facing future shortages. A megawatt of direct drive wind turbine capacity may require around 1100 pounds of permanent magnets. Scotland 🏴󠁧󠁢󠁳󠁣󠁴󠁿 is expected to lose £60bn including billions from the public purse due to 'underselling' of leasing rights for offshore wind.

Video source: Tucker Carlson Originals

🔹The St. Petersburg (Russia 🇷🇺) International Gas Forum was held on Oct. 31st - Nov. 03rd 2023 as representatives across Eurasia, China and Türkiye / West Asia convened to help shape the future of natural gas markets. The International Scientific-Practical Conference topic was "Underground Gas Storage: Reliability and Efficiency" where multiple countries shared data for technological advancements.

🔹Turkish Energy Minister Alparslan Bayraktar hopes in 2024 to launch the initiative for a natural gas distribution hub/platform based in Türkiye 🇹🇷, with sourcing of gas from Russia via the TurkStream pipeline. Last year, Russia's FSB thwarted attempts of sabotage & terrorist attacks on the gas pipeline.

🔹Russia's Gazprom and the government of Uzbekistan 🇺🇿 signed a strategic memorandum of cooperation in the energy sector. Recently we reported that parties are discussing the construction of the fourth branch (D) of the Turkmenistan 🇹🇲-China🇨🇳 gas pipeline, which would pass through Uzbekistan.

🔹Gazprom CEO Alexey Miller spoke about the launch of gas supplies through Kazakhstan 🇰🇿to Uzbekistan via the Central Asia - Center gas pipeline system. He said, "...this particular project is a signal to the global gas market that the intensification of relations in the gas industry between countries of Eurasia is a trend that to a great extent will determine the dynamics of gas consumption growth".

🔹Russia has not closed the western route for gas supplies, it is open for negotiations on supplies to Europe 🇪🇺, but is waiting for proposals from the buyer.

🔹Kyrgyzstan 🇰🇬 wants Gazprom to produce oil 🛢 and gas on its territory. Over the past 10 years, Kyrgyzstan gas supply to the population grew from 22% to 38%.

🔹Gazprom is considering new routes and the Bukhara-Ural gas pipeline to increase supplies to Kazakhstan and Uzbekistan.

Video source: Петербургский международный газовый форум

🔹The 10th summit of the Organization of Turkic States (OTS) was in Astana, Kazakhstan, today (Nov. 3rd). Its members are Türkiye 🇹🇷, Azerbaijan 🇦🇿, Kazakhstan 🇰🇿, Kyrgyzstan 🇰🇬 and Uzbekistan 🇺🇿, while Hungary 🇭🇺 and Turkmenistan 🇹🇲 have observer status.

🔹Kyrgyz President Sadyr Zhaparov urged the leaders of the Turkic states to strengthen economic cooperation. He welcomed the launch of the Turkic Investment Fund, saying it is a "timely" decision, and important to maintain and expand the availability of various financial market instruments necessary to meet business needs. Trade turnover between the members of the OTS exceeded $22 billion this year.

🔹 Access to the Trans-Caspian International Transport Route, or the so-called Middle Corridor, necessitates passage through Türkiye & Azerbaijan. This route acts as a gateway to unlock global trade opportunities. Azeri President I. Aliyev said the EU 🇪🇺 has much to gain from collaborating with the OTS.

🔹Kazakh President K. Tokayev said "It is important to conclude an agreement on jointly fighting crime and exchanging information between the financial investigation bodies of the OTS".

🔹Turkish President R. Erdogan said the Turkic world must continue to support Azerbaijan in the matter of opening the Zangezur corridor. Azerbaijan has invested more than $20 billion USD in the economy of Turkic states. The main part of the investments is being made to Türkiye.

🔹A joint declaration, adopted at the summit, called on all parties to the Israeli 🇮🇱-Palestinian 🇵🇸 conflict to declare an “immediate cease-fire to protect civilians and to provide immediate and unhindered humanitarian aid throughout the Gaza Strip.” "The conflict can only be resolved through peaceful means based on relevant UN resolutions and the two-state solution".

🔹Kazakh President K. Tokayev advocated adherence to international law and UN Security Council resolutions. He also highlighted the need to revitalize the UNSC 🇺🇳.

Video source: TRT World

🔹US sanctions on Russia's Novatek PJSC’s Arctic LNG 2 project threatens US ally, Japan's energy-security. Japan’s 🇯🇵 gov't is an investor in the project and is set to start imports from Russia 🇷🇺 via the Northern Sea Route (NSR) 🚢 in the coming months. Japan followed US 🇺🇸 sanctions on Russian coal, but its gov't has drawn a line at natural gas, used to generate about a third of its electricity and heat homes.

🔹A consortium of Mitsui and state-owned Jogmec have a 10% stake in Arctic LNG 2 and will receive 2 million tons per year from the facility, equal to roughly 3% of Japan’s total contracted long-term supply. The new US sanctions on Arctic LNG 2 will test Japan’s relationship with the US and other G7 nations. Sanctions so far have largely avoided Russian gas, which is still delivered to Japan and Europe.

🔹Japan 🇯🇵 insists to the 🇺🇸 Biden admin. that Russian LNG is required to meet energy needs and last year urged Mitsui & Co. and Mitsubishi Corp. to hold onto investments in Sakhalin-2 in Russia’s far east. For comparison, Shell Plc, the biggest foreign shareholder in Sakhalin-2, has to drop its stake.

🔹The NSR is reshaping global energy flows as it now takes half the time for a tanker from Russia 🇷🇺 to arrive in Asia instead of taking the conventional route through the Suez Canal 🇪🇬. Russia wants the NSR, the shortest shipping route between East Asia and Europe, to become a major shipping lane and has invested heavily in infrastructure there.