Posted on 07/07/2022 10:50:34 AM PDT by SpeedyInTexas
European countries increased their LNG imports by 49%, from the start of the year to June 19, according to data from Wood Mackenzie, an energy consulting firm. By contrast, imports by India are down 16%, China by 21%, and Pakistan by 15% over that period, it said.
“The European gas crisis is sucking the world dry of LNG,” said Valery Chow, head of Asia Pacific gas and LNG research at Wood Mackenzie. “Emerging markets in Asia have borne the brunt of this and there is no end in sight.”
(Excerpt) Read more at wsj.com ...
I can guess who gets the “penalty” moolah.
Suck it EU.
“YOOPS”* will do that to ya.
*yoops = eurpoeans. 😃
When one is cold and hungry, the upcoming winter will have a sobering effect on the cold and hungry EU electorate......
Funny, back a couple of years ago there was huge amounts of LNG capacity in the pipeline and silly me was wondering “Is there really that much of a market for it?”
As well as the American electorate, this November.
If the BRIC trading block succeeds, suspect there will be multiple pipeline projects connecting Russia to China and Iran to Pakistan and India.
India could be left out. Expensive from RuZZia to India.
Iran to India, not as expensive but will Iran have the money?
“Russia abandons the construction of a natural gas pipeline to India and Japan”
“Gazprom Vice President Yelena Bulmistrova announced at a press conference that the construction of the natural gas pipeline from Russia to India has been postponed, calling it “a route that is too capital-intensive.””
https://www.seetao.com/details/86540.html
Suspect that new political and economic realities may make these huge capital expenses and challenges more viable. Much depends if BRIC has a reliable, solid non dollar currency. Also a pipeline from the Mideast to China is not unthinkable. There already exists a rail connection between Iran and China. It would seem running pipelines along its course may not be that difficult.
Cue the calls for the UN to control the supply and distribution of not just LNG but, well, all resources so everyone has an equal share with, of course, UN officials getting first crack at all the best stuff.
More collateral damage.
And Deep States, none of them, give a damn.
Those evil Europeans are not playing fair, sniff, sniff. They should leave some for those in, sniff, sniff, emerging markets in Asia, sniff, sniff, said Valery Chow.
Best hope that the emerging nations don't decide that if they can't have it, ain't nobody can have it.
Why don’t they just buy Russian gas,I hear it’s going cheap.🤔
“Companies are defaulting on long-term contracts, paying a penalty and then selling the LNG at higher prices to EU.”
This is what Law & Economics types call “the theory of efficient breach.” Breach the contract, pay the damages, and still come out ahead.
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