also coming up hong kong leader says he wants to try the world for international talent to help revamp the financial hobbs economy. we'll talk to our correspondent about how the cities dealership wants to go about it. and we'll go to the u. k. where chimney sweeps on high demand as written on reactivating, their fireplaces, and that horrendous energy. com. i'm chris kolber. welcome to the program liquefied natural gas is to provide europe's energy security in the coming winter amid the war and ukraine. russia isn't delivering the gas. it used to and trying to make itself independent from putin. fossil fuel deliveries. e countries have been buying a lot of l. n g from the middle east or the united states a times are bidding countries that are also heavily banking on liquefied natural gas like india, pakistan or myanmar. but now there are more than $35.00, l and g. latin vessels drifting off the coast of spain and around the mediterranean

. spain has 6 terminals in total and has around half the re gas if occasion capacities of the entire european union. now spain's 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 let's bringing james wattle. he's 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 those natural gas. what we're 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 and western europe, and that was the source of gas supply. since you've had the short for that much 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 no energy on the, on the funding 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 north found in france. we have constraints on the french border into germany, which limit that ability to absorb that energy of the same time or so we'd be very successful filling our storage. and as you fill out your appeal storage, what happens is you've got less injection capacity. as you approach full and so

that means that there isn't that space to put a lot of the gas and it's 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 or right now the price is signaling a huge contract, meaning very low prices and then much high prices further, further on for delivery in europe. so a lot of it is going to stay, you know, as fighting storage where, you know, you're just gonna wait for a month. the cost of waiting per month is about $5.00 and then bt you on the spread between the prompt contract and those that are in the december. it's about 20. so there's still an economic rationalism to keep that in g. supplies on tank outside of europe. but yet we often see new buying interests from us in the countries. you

mentioned that the spot there in the india and the market in asia coming back into the market for spot congress because it is not competitive for bidding progress away. so james, in brief for producers of allan g, it actually pays to have these vessel sitting outside outside the port waiting fire prices. we've had a huge exposure in the cost of actually chartering vessels. so those, those costs are holding allergy on vessels for 30 days or 60 days are very high historically. but the spreads between prices right now and prices for delivery, and one or 2 months us so big right now that i, she does make sense, is to keep the energy sitting outside of your chances. what will the consulting group energy aspects, james? thank you for your thoughts. hawken's leader made his 1st policy

address on wednesday after taking office earlier the summer. one of the biggest challenges that he is executive john lee currently faces is how to bolster the 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 lee's priorities for the city, attract new towns. i deal on downtown for me over the past 2 years. our local work yours, frank, by about 140000 who you're sub sam, hard from actively nurturing and retaining local talents. the government will pro, actively control the world for talents of law. oil for more, let's cross over to taipei and dw correspondent pound wang power in 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. so chief exec to, to john lee said the governor will launch the office for a charting strategic enterprises called the we're firms to hong kong with the land and tax incentives. and li also said they will launch a top tell him, pass the 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 awards top 100 universities, the hopes this will save their shrinking workforce in hong kong. while so much for the plans, but how much of a problem could it be then that mr. lee also said that more security laws are currently being explored when it's these policies and beijing scroll 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 in taipei palin. thank you. and now to some of the other global

business stories making news. the co c. e. o of south korea's biggest mobile messenger account 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. 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 products, projects and under c, electricity interconnect 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 and food since 1980 pushed inflation back into double digits last month, matching a 40 year high hid in july. it's the latest low for households grappling with a cost of living crisis and the new finance minister, jeremy hands warning our future. i watering cuts as he put it, isn't 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. he's never been as busy as he is right now. his task is to prepare the old 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 saying they're going to use the thermos here. ah,

it's because 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. she's already been relying on it. so today jack came to clean it, put me to run 2 hours a day in the woods, but you know for 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. that's a success in itself. she now pays mainly for electricity and hot water would, however, can sometimes be free. free would, because if you come cold in bed,

then you'd have to talk. but how would she champ, if you pay for coal, but she'll just looking and getting wood from nature, from the boots from the ground. he's 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 don't typically tend to protest. yeah, i'm reluctant to put my hating on on, on a very high wage. i'm. and a lot of people, my family friends, they're very worried that they won't be able to pay their bills. we've been badly paying uh bill is as it is. and now that we have to consider putting on our heating

. and i've done that actively. i've changed. i've stopped using the boiler where i can for now sarah will continue to collect wood with her son. after it's been sufficiently dried, it will be one less thing. she and her family have to worry about this winter. ah, that's a show for now. for more news and background information. check out our website at the d. w dot com slash business on chris kolber, berlin from me and the entire team. thanks for watching. have a successful day with with

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life? we don't do something. our children won't be able to enjoy fresh air. you're at the revealed starts november said on d w. ah ah ah, this is dw, live from berlin. vladimir put in the class marshal law and for ukrainian regents the announcement announcements, titans moscow's grip on territories that russia illegally annexed last month and put in the top general in ukraine, admits.