I also understand that there is noway to pipe the volume of NG that went to Europe to China. One or more new lines would have to be built.
“there is no way to pipe the volume of NG that went to Europe to China.”
We are talking about having to build new pipeline across time zones.
The only thing they had planned, was the 2,600 km Power of Siberia 2 pipeline - but that was not scheduled to complete until 2030 (the same year as the new Arctic 2 LNG terminal at Yamal). Since the war, the financing and partners pulled out of both projects.
They cannot pipe it to China, and they cannot load it on to ships for resale either. It is a total loss, that is going to have heavy secondary and tertiary effects, as gas towns become ghost towns, and jobs go away for good.
It is like decades of Rust Belt decay in American manufacturing towns, occurring all in one year.