You really don’t get it, do you? Natural gas was selling around $4 2/1/22. Since the sanctions it’s been over $9 and today is at $8. Truss will buy zero gas from Russia. She will be subsidizing to the tune of 150 bn pounds the bidding war against you and me for American gas. Does Putin care if India and Brazil are paying double what he had contracted with Germany for? Before Britain and the EU decided to buy as much of our inflated priced gas as Truss and others will throw borrowed billions at and to shiver.
“Does Putin care if India and Brazil are paying double what he had contracted with Germany for?”
That gas that used to go to to Germany, and much of the rest of Europe, was overwhelmingly transported through fixed pipelines. It can not be physically transported to other customers.
Russia has just activated a new LNG (Liquified Natural Gas) export terminal near St. Petersburg (Portovaya), that has been in the works for many years, and was originally planned to activate in 2019. However, that terminal’s capacity is only 4% of one pipeline (Nordstream).
The next LNG terminal they had planned was the larger Arctic-2 terminal in Yamal. That terminal was not scheduled for completion until 2030, but the financing was pulled and the partners withdrew this year, because of the invasion of the Ukraine.
So the only thing they can do with that gas, if Europe won’t buy it, is to flare it off, until they cap the wells. If the flow stops through one Winter, those wells and that pipeline are basically scrapped, and would require extensive rebuild.