China has stopped sales of LNG to Europe to make sure its own households have enough gas for the winter, report says https://markets.businessinsider.com...es-europe-energy-crisis-winter-supply-2022-10 "Beijing has reportedly told state-owned natural gas importers to halt resales of cargoes to buyers in Europe and Asia, to make sure China has enough supply for domestic needs this winter. The National Development and Reform Commission has spoken to Chinese energy giants PetroChina, Sinopec and CNOOC to ask them to stop the shipments of liquefied natural gas, Bloomberg reported Monday, citing people with knowledge of the matter." Will the EU suffer an even harsher winter, with no other immediate option for them? Do the EU leaders care, or will there be a gas light (pun intended) at the end of the tunnel for them? Or, is this in line with Russia's European involvement? Will the US come to the rescue with its over-priced commodity?
the resale of LNG from china to EU, was purchased from US. so we dont have the capacity to sell more to EU right now. the irony is china sign the LNG deal under trump back in 2018 for 10+ years contract at a discount wholesale rate. because of that we can't sell those LNG meant for china to EU without breaking the contract or increase production. Now due to EU energy crisis, china is reselling american LGN to EU at a mark up price, ripping in profit, and at the same time its buying cheap oil/LNG from russia for its own internal usage.
The EU gas storages are full (95%) and the LNG tankers are arriving, more than we can handle. https://www.reuters.com/business/en...-off-europes-coasts-unable-unload-2022-10-17/ Maybe that will be a problem for the UK because they closed down their natural gas storages in the recent years. https://www.theguardian.com/busines...eft-britain-exposed-to-winter-gas-price-hikes
If it hasn't been made abundantly clear by now. West should trade with west and eat with east. Authoritarian dictators should not be trusted with not weaponizing energy. Once these new trade realities sort themselves out we can get back to a state of normalcy
Interesting. Then why are so many up sh!t creek now? Are they waiting to use it all in the last week of winter?
https://oilprice.com/Metals/Commodi...facturers-On-The-Brink-Of-Bankruptcy.amp.html China's got its own problems right now
~ China has many problems. Of course network "news" does not report on China . " People in America are getting gassed . I have a chauffeured SUV courtesy of the taxpayers. "
Gas price has more than quadrupled in UK since NATO started sending zelensky billions of taxpayers money. It would be ALOT more but our govt capped (subsidised) it until April.
Doesn't speak mandarin. That's why MSM doesn't report because they're morons that only speak one language
It's too warm for the time of year, more than 20° Celsius (68° Fahrenheit) and people don't have to heat up their houses. Germany uses 30% less natural gas than last year in October.
and paying dearly for it through the nose, so much so the price will be so high that the Europeans will be very reluctant to put their heating on. This is what they were paying last year for Russian energy https://beyond-coal.eu/russian-fossil-fuel-tracker/
Pretty much a nothing burger. The endless lock downs in China caused by dictator Xi unable to admit he lied, that the Chinese Communist vaccine for covid doesn't work (not even against the original alpha strain much less mutated strains like omicron) means the Chinese economy is likely in recession (even if the CCP keeps lying and pretending it is not). That means the LNG China imported in 2021 and early 2022 is just sitting in storage in China costing money to keep it super chilled. China was simply reselling stuff it had previously bought and doesn't need due to low domestic demand. Further more, this low demand in China is good news for Europe because locked down Chinese just aren't use as much. That means more LNG will hit the spot market and make its way to Europe allowing Europe to give Putin the middle finger. https://oilprice.com/Energy/Energy-...Are-Set-For-A-Record-Breaking-Plunge.amp.html
We are talking about gas, you know, the sh!t used for heating? Or did you miss that memo, the one plastered on the thread title? China Is Aggressively Reselling Russian Gas To Europe Did you think gas from the bowser, the one to fill your car?
Doubtful as urals gas can't be brought to China as there is no pipeline. Meanwhile the one field in Northern Siberia which does have a pipeline (which is not connected to any of the rest of Russia's pipeline network) has been virtually shut down due to the western companies which developed it and operated it leaving Russia. Furthermore Russia has zero LNG facilities at all. So, no, the CCP has certainly not been reselling Russian natural gas. Tell us another one, Boris.
It's sad and laughable at how ill-informed you are. You obviously don't read. "Gazprom recently announced that its daily supplies to China via the Power of Siberia pipeline had reached a new all-time high (Russia is China’s second-largest pipeline natural gas supplier after Turkmenistan), and earlier revealed that the supply of Russian pipeline gas to China had increased by 63.4% in the first half of 2022." article written, Wednesday, Aug 31, 2022 - 07:14 PM
That Siberian field almost certainly has collapsing output as it is the single most technical field on land in Russia (with the off shore field in Sauklin Island being the most technically difficult off shore). Russia cannot effectively operate those fields thus why they had westerners doing it to begin with. They can coast for a little while on the old work westerners did but those are fracking fields and horizontal drilling fields both things Russia sucks at. Not to mention Russia lacks the specialized underground three dimensional imagining equipment needed to run such operations. I have gone over this multiple times already. BTW that pipeline is not connected to any other pipeline system in Russia so, no, Russia cannot redirect gas which had been going west to China. Thus why Russia is currently just flairing it all off near St. Petersburg right now. They are not making any money off of that gas any more and are simply burning it off into the atmosphere.
