“Russia cannot physically move that gas to new customers for the next decade, if ever. European gas storage for the Winter is 90% full, well ahead of schedule. European natural gas prices are down about half since their peak on August 26th.
Putin pulled the trigger on his energy weapon, and it backfired on Russia. Natural gas was 25% of the Russian GDP last year, and 85% of their exports went to Europe.”
“Except none of that is true.”
It is all true, except the GDP percentage. It should not be total GDP, but rather Government revenues (or also total exports). My mistake. Also, the 90% storage number is rounded, today it is around 89% for Germany, and 87 or 88% Europe-wide - well ahead of schedule, and well over the 80% minimum for Winter. They have been injecting about 1/2 of one percent of capacity per day.
https://www.theice.com/products/27996665/Dutch-TTF-Gas-Futures/data?marketId=5429405&span=2
Nope. Russia is ALREADY exporting natural gas to China:
Russian Gas Pivot Toward China Will Ease Europe's Energy Crunch
Record Russian gas flows to curb Chinese LNG demand:
Russia is boosting natural gas shipments to China as it curbs flows to Europe, a dynamic that may offer some respite from the unprecedented rally in energy costs, according to consultant Accenture Plc.