Spain has 6 terminals in total and has around half the re gas if occasion capacities of the entire european union. Now Spains National gas grid operator already said that it may have to reject on loads of energy due to over capacity at its terminals. Well formed us lets bringing james wattle. Hes a senior gas analyst at the consultants, the group energy aspects. Welcome to the w. James, so as there seem to be, you know, a over capacity at these terminals and spain has europe bitten of more than it can chew when going around the world and buying all this natural gas. What were trying to do in europe is to make a pipeline grid that was designed to function from the east to the west function in of us to be historically we always used to get lots of rush and gas coming in from the east and filtering through germany in western europe and that was the source of gas suffice. And youve had the short for that machine gas. We been basically pushing the gas had high enough that those are the highest value markets in the world. And that is being attract not spending chicago to come in and off load. But the pipeline congestion with in europe going from west to east is just to the extent that we have to basically put energy on the, on the, on the storage outside of these terminals. Waiting for a moment when they can actually unload into the pipeline grid and send the east. And we have constraints on both the spanish board and northbound. In france, we have constraints on the French Border into germany, which limit that ability to absorb that energy of the same time. Also, weve been very successful filling our storage. And as you fill out your appeal storage, what happens is youve got less injection capacity. As you approach full and so that means that there isnt that space to put a lot of the gas and its not right. We get into the proper heating season in november, december, january. That will start to absorb more gas and actually bring it into the grid. James, how likely is it that these vessels will go and take this ellen gee, to other countries around the world . The demand is there. Right now the price is signaling a huge container, meaning very low from prices and then much higher prices for the 1. 00 for wins delivery in europe. So a lot of it is going to stay, you know, as pricing storage where you know, youre going to wait for a month. The cost of waiting from us is about 5. 00, and then b t u and the spread between the prompt contracts and those that have been the same for about 20. So theres still an economic rationale just to keep those allen g, a supplies on tank is outside of europe. But yes, we are on the new buying interest from some of the countries. You mentioned that the stock there in india and potentially some of the other markets in asia coming back into the market for spotters because it is a competitive for getting that congress way. So a james, in brief for producers, are val and g. It actually pays to have these vessels sitting outside outside the port a waiting fire prices. Weve had a huge explosion in the cost of a heat transferring of vessels. So those, those costs are Holding Energy on vessels for 30 days or 60 days are very high historically. But the spreads between prices right now in prices for delivery in one or 2 months. Us so big right now that i, that he does make no sense just to keep the energy sitting outside of your james, what all of the consultants, the group energy aspects. James, thank you for your thoughts. Hong kong leader made us 1st policy address on wednesday after taking office earlier in the summer. One of the Biggest Challenges that the chief executive john lee currently faces is how to bolster cities competitiveness, turbulent pro democracy protests. A subsequent track down from the Chinese National government and strict coven 19 protocols have resulted in hong kong losing its status as a Financial Hub to rivals like singapore. Now, among mister lees priorities for the city attract new talent. I deal on downtown for me over the past 2 years. Our local work, yours, frank. By about 140000 huge ordeal stops apart from actively nurturing and retaining local talents. The government will pro, actively control the world for talents, public oil for more. Lets cross over to taipei and d. W correspondent, pound wang power, and hong kong chief executive wants to bolster the cities competitiveness. How does he want it attract the overseas talent . He feels as necessary for that. Yes, thought chief exec to fit. John lee said the governor will launch the office for a charting Strategic Enterprises called were firms to hong kong, with the land and tax incentives. And li also said they will launch a top tell him pass game to entice talent to pursue their career in hong kong. And the plan will offer applicants a 2 year visa without getting any job offer. And the visa will be granted before they arriving in the city. And the program is an atom hi earns and as well as recent graduates from the worst top 100 universities. The hopes this will save their shrinking workforce in hong kong as well, so much for the plans, but how much of a problem could it be than that . Mr. Lee also said that more security laws are currently being explored when its these policies and beijing scrolling control over Political Freedoms that have been driving many people out of hong kong. Yes, a hong kong now has lost thousands of residents. Since the pandemic started worth in a brain drain from the international Financial Hub and now and ongoing political crackdown and diminished freedoms following the implementation of Strict National security law course, the mass exodus of residence. We have seen that in record high, you know, School Vaccines and also our pension balance with the draws. So this is really a problem for, for them. And, but lee also reject the use of turns or immigration waves to describe hong guns are declining population. He said, residence leave for a variety of factors, including education and you know, family reasons, dw correspondent, pound weighing, anti pay pal, and thank you. And now to some of the other Global Business stories making news. The co c, e. O of south koreas biggest mobile messenger cal talk has publicly apologized after a fire fire at a data Center Last Week and little a mass outage, disrupting Cellphone Services for 53000000 users. Napkin. One said he will resign it. Indonesia has announced plans to build a new capital city to be named new. Some tara, on the island of borneo. The government says it will offer a 30 year tax break for Companies Investing in the 32000000000. 00 project. Construction of a dam and roads have already begun at the site. The Australian Government has announced plans to expand its Renewable Energy sector. The country will build Renewable Energy zones, wind and solar, prox projects and under c, electricity, inter connectors to bring more clean energy to the national grid. That Prime Minister antony albany, zis Center Left Government one power earlier this year. Promising climate reforms in britain, the biggest jump in food. This is since 1980 pushed inflation back into double digits last month, matching a 40 year high hid in july. Its the latest low for households grappling with a cost of living crisis and the new finance minister jerry, me hands warning of future. I watering cuts as he put it, isnt likely to competence. Who in response to spiking prices have been turning to traditional ways to keep their homes warm. Ah, jack parrot balances on the roofs of had been bridge. Hes never been as busy as he is right now. His task is to prepare the all chimneys for everyone who plans to start using them again. The lid here is to keep birds from nesting inside the chimney. Ah, nearly every customer is certainly going to use the thermos here. Ah, it took us in this case, stoves and fireplaces will be helping warm homes again, since the beginning of the month, Energy Prices in the u. K. Has been kept. Still heating with gas is 3 times as expensive as it was last year. I just, i saw her last good a ways this is why sarah k had her of been refurbished by jack recently. Shes already been relying on it. So today jack came to clean it, put me to 2 hours a day, which but you know, through the day and the heat rises and it kept the house with them. So i cut my bills down. For sarah, the effect is noticeable. Her heating costs have stayed almost the same. Thats a success in itself. She now pays mainly for electricity and hot water would, however, can sometimes be free. Free would. Because if you count cold in that, then youd have to talk. But how would she chuck if you pay for coal, but shell just looking and getting wood from nature, from the woods from the ground. Hes free burning. All that would is not good for the environment, but the need to save money seems more prominent than climate awareness for some people right now. The desperation in the u. K is growing, even with the price cap. The bills are hefty demonstrations, like this recent one in london have been seen in every major city. Even though britons dont typically tend to protest. Yeah, im reluctant to put my heating on a non a very high wage. And a lot of people, my family friends, theyre very worried that they wont be able to pay their bills. Weve been badly paying off our bills as it is. And now that we have to consider putting on our heating, ive done that actively. Ive changed. Ive stopped using the boiler where i can for now sarah will continue to collect wood with her son. After its been sufficiently dried, it will be one less thing. She and her family have to worry about this winter. Thats a show for now. For more news and background information, check out our website at the d. W dot com slash business on 1st culver and berlin from me and the entire team. Thanks for watching. Have a successful day . Ah ah, with oh, wow. Den and goes green and germany. Textile manufacturer of the day now introduce the sustainable gene convention black box with the help of robots, lasers and green energy. The retail chain is revolutionizing the production market. A sign of emerging standards to the Global Textile Industry made in germany. In 30 minutes on d, w. A free day for us and for our planet. Golden ideas is on its way to bring you more conservation. How do we make cities green, or how can we protect habitats . We can make a difference, a global idea, environmental series in global 3000 on d, w, and online people in trucks injured when trying to flee the city center. More and more refugees are being turned away. Order families on the reason for the credit on its way located demonstrate people fleeing extreme ross getting 200 people with around the world. More than 300000000 people are seeking refuge in the line because no one should have to flee. Make up your own mind. D. W. Made for mines. Ah ah ah, this is dw live from violet Vladimir Putin to class marsal law in for ukrainian, reaches the announcement titans moscows grip on territories that russia illegally annexed last month and put in the top general. And ukraine admits that his troops on