In even the most basic marketplace, there are at two entities, the seller and the buyer. If there’s no seller, or nothing to buy, the buyer goes home with nothing. Conversely, if the seller is at a market with no buyers, then he can can sell nothing.
They both NEED each other.
The best buyer for the Russians were the Europeans. The largest pipelines go from the Russian gas fields to the European businesses and homes. The pipelines to East and South Asia are minuscule compared to the European trade.
Doubling the amount of gas to Asia only meets 20% of what the Russians used to sell or sold to Europe.
Russia needs to convert the gas to money, and Europeans need the gas.
It really hurts both sides.
yes if europe was the only buyer
“Russia needs to convert the gas to money, and Europeans need the gas. It really hurts both sides.”
Europe has other options for supply, and the USA has been a big winner, signing some major new long term supply contracts.
Norway, Qatar, the Netherlands and Algeria are big winners of Russia’s former market share as well.