Since Ukraine invasion (and Western sanctions) began early this year, Russia has been gradually reducing gas supply to Europe, first to 40% of total capacity, and then to 20%. Consequently, some EU countries have been looking for alternative sources. And Europe's companies have started to buy gas from Chinese refineries, that are the largest importers of gas from Russia (up to 60%).
This means that Russians sell liquefied natural gas to China, that has no use for such imported product. That's why China has no choice but to resell Russian gas to Europe. In other words, Europe's countries don't buy Russia's gas directly, but they're buying the same Russian product from elsewhere. The world is filled with so much hypocrisy!
Hi Giorgio!
ReplyDeleteGiorgio I talk about Russia I think the world was too quick to say it would deal with Russia.
Giorgio I today feel very sorry for the British people. Queen Elizabeth was a great person and a real lady. I thin today was the end of an era. May she rest in peace in the House of our Father in Heaven!!!
The death of Queen Elizabeth II dominated the front pages of Italy's newspapers ... "The Queen of Two Centuries," is the lead headline of "Corriere della Sera".
Deletevery sad.... because Europe pays more than used to be.
ReplyDeleteExactly! Gas prices doubled in the EU because of war, sanctions and retaliations. Consequently, many businesses will be shut down in the next two months. And unemployment will rise!
DeleteGreat to learn your point of view :-) ... Thank you for that!
This is so crazy to do that. All in the name of politics. The picture is quite an urban exploration scene though
ReplyDeleteEasy to see that some investors around the world have been interested in rising gas prices.
DeleteThe picture above shows a coal power plant ... unfortunately, we (Europeans) will be compelled to burn more coal to generate electricity (in place of liquefied natural gas). This will be not good from an environmental point of view.
Thank you for sharing your point of view :-)
...this is a messy and complex situation.
ReplyDeleteThat's true, my friend! Unfortunately, we still see instability around the world.
DeleteI have to agree with Tom. The political complexity of this will only hurt the people and the environment.
ReplyDelete