Free Republic

In 2021, a whopping 83 percent of Russian gas was exported to Europe. Russia’s global exports of 7 million barrels of oil a day and 200 billion cubic meters (bcm) of piped gas a year accounted for about half of its federal revenue... Far from freezing to death, Europe quickly secured alternative gas supplies by pivoting to global liquefied natural gas (LNG) ... these alternative supplies have reduced Europe’s dependence on Russian gas to 9 percent of its total gas imports... Furthermore, Europe’s unseasonably warm winter means that not only have the worst-case scenarios been avoided, but Europe’s full storage...

Although Russia has reportedly invested $55 billion into its pipeline deal with China, natural gas imports through the pipeline have only totaled $3.81 billion since December 2019, according to China customs data as of June, accessed through Wind Information. The pace of Chinese purchases picked up in the first half of this year — nearly tripling from a year ago to $1.66 billion, the data showed.