excerpted:
“....A lot of European politicians were upset about perceived profiteering by U.S. oil and gas companies during the energy crisis,” said Paddy Ryan, assistant director for European energy security at the Atlantic Council. “So getting rid of a competitor to the U.S. is something they’d be loath to do.’”
Thanks to Merkel the Russian Spy
In addition to the increased purchases of Russian LNG the Europeans continue to buy the continuing flow of Russian natural gas that is moved via Ukrainian pipelines. Of course the purchases of Russian natural gas from Ukrainian pipelines can yield TEN PERCENT (OR MORE) FOR ALL THE VARIOUS “BIG GUYS”. Russian natural gas through the Nord Stream Network could have been done GRIFT FREE at much lower prices.
This article is deliberately misleading.
Europe previously imported little LNG from Russia, but a lot of pipeline gas.
The small thing (LNG), though 40% bigger, is still small. The big thing (pipeline gas) is over 90% gone. The net result is that Russia’s total share of the European gas market (LNG plus pipeline) has been dramatically replaced by other suppliers (especially Norway and the USA).
The loss of Russian gas exports to Europe (85% of Russia’s total 2021 natural gas exports) has been so huge that last quarter, Gazprom operated at a net loss.
Even the small remains imports of Russian LNG are. Planned to be phased out by the EU
perhaps some kind Freeper could post recent
NG prices ... TIA