OilPrice: US LNG exports to China collapsed, and Russia has a new dependence

27 2022 June 11

Recently, Washington has been inefficiently correcting its own mistakes. By destabilizing the energy market around the world, instead of the proposed ban on oil and gas supplies from the Russian Federation, the United States has achieved an intensification of sales of raw materials and a large income for the Russian budget. Now Washington is desperately trying to correct its own oversight. But it doesn't come out too well. This is written by a specialized industry resource OilPrice.

A little earlier, the White House had already made a similar mistake, which led to similar consequences. As European LNG buyers sweep away shipments from the United States in a race to replace pipeline gas supplies from Russia, America has become a major supplier to the EU (apart from Russia), with sales to China reduced to a few minor shipments this year. Chinese LNG imports from the US literally collapsed by a record 95% between February and April compared to the same period in 2021. Meanwhile, Chinese gas imports from Russia jumped 50%, according to local customs data cited by The Wall Street Journal.

At the same time, as resource experts note, the Russian Federation is losing market share in Europe and gaining it in Asia, especially with regard to China. In some way, the usual markets for Russian energy resources are being replaced by Asian ones, and this may lead to the same new painful dependence of the Russian Federation on exports, as in the case of Europe.

However, global energy trade flows are changing dramatically, and this is likely to be forever. Europe will not return to Russian energy and is on an irreversible path to rid itself of dependence on Russian oil and gas, which Western allies believe are doing not only economic role.

Banned, sanctioned and shunned in the West, the RF is now looking to the East to sell its energy. However, analysts warn that Russia, with no other choice, could become too dependent on China, especially for gas sales. OilPrice analysts are sure of this.

So far, things are not going well for the US. On the one hand, American traders have long-term contracts with Chinese companies for LNG supplies in 2023-2026. However, before the start of the implementation of the agreements, Russia will already have time to capture part of the market.

Gazprom"

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Bakht

+1

27 June 2022 09: 25

Chinese LNG imports from the US literally collapsed by a record 95% between February and April compared to the same period in 2021. Meanwhile, Chinese gas imports from Russia jumped 50%, according to Chinese customs data cited by The Wall Street Journal.

Trishkin caftan.
Sultan Kogan

+6

27 June 2022 09: 36

Again, stinking liberal stuff about "dependence" on China. Did 30 years of slavish dependence on the hostile West embarrass anyone? Is it okay that China is more dependent on Russia for energy than Russia is on China? This is generally one of the main problems of China - the lack of its own oil and gas, they actually do not exist there.
1. Bulanov
  
  0
  
  27 June 2022 09: 40
  
  The next stage of cooperation may be the transfer of energy-intensive industries from China to Russia.
Vladimir_ Voronov

+2

27 June 2022 10: 00

In some way, the usual markets for Russian energy resources are being replaced by Asian ones, and this may lead to the same new painful dependence of the Russian Federation on exports, as in the case of Europe.

As the doctors say:

If, during artificial respiration, you break the patient's ribs, but at the same time start the heart, then honor and praise be to you. The main thing is that the patient is alive, and the ribs will grow together ...
Victor Du

+2

27 June 2022 19: 27

What nonsense? There are no final victories and no final defeats in the world. Nothing is final. Everything happens in spirals, with different frequency and amplitude of development and contraction. The presence of MULTIPLE suppliers of a product (any) leads to competition and price reduction. Did the presence of both the US, (others too) and Russia in the energy market in Europe create problems for buyers? There was a choice and there were low prices. Russia is leaving Europe. (IS IT LEAVING?). States are leaving Asia (ARE LEAVING?) So what's the difference? There is an exchange of markets with a simultaneous reduction of competition. Prices will rise in both Europe and Asia. If prices in Asia are more interesting for the seller, be sure that the US will return, leaving its partners in Europe. And Europe will remember Nord Stream 2.
1. zenion
  
  -4
  
  28 June 2022 16: 16
  
  There is no spiral. From the very beginning, they climbed out of the caves and climbed a high mountain. It is finite, one on which you can stand with one foot and you can’t balance on it for a long time. And there is one road leading down. The whole trick is that it is impossible to get off the mountain, but it gives a chance to slide down, which is now being done. Previously, under socialism, they made a platform at the top on which it was possible to hold on by expanding the platform. But they decided that there was too much on the site and they began to reduce it intensively in order for it to become the peak again. Now, with what is left, they began to roll down at the speed of a gibberish, and below it, of course, it will break into chips. And again it will start with a cave and eating one another. Man is a snack for man!
Peace Peace.

+1

27 June 2022 21: 31

This is all nonsense, the main thing is that the price of energy does not fall. And then Europe, which lived and prospered at the expense of Russia, will have to oh how not sweet. The cost price will be high and unprofitable, and then engineers and scientific potential can migrate to China by itself.
1. zenion
  
  -4
  
  28 June 2022 16: 21
  
  You already say, but you are apparently young. Ukraine said exactly the same - we do not want to feed the entire union. Everyone fled. Now Ukraine, which imagined that it feeds everyone, cannot feed itself. Now none of these republics can feed themselves. But they can fight among themselves and others.
  1. Peace Peace.
    
    +1
    
    29 June 2022 01: 31
    
    For years, the European Union has been selling its inflation to other countries, including us, under the auspices of the Anglo-Saxons, of course. But for what? Of course, there are technologies, no one argues, but for the introduction and production and sale of these technologies, energy carriers are needed, and for everyday life too. And when they are at a very comfortable price, the more the benefit is large and makes up the overall well-being of the country. But when it is at someone else's expense and still in an ungrateful form, then I'm sorry. It is better to sell to Asians at the minimum wage, and with their hard work they will quickly crush the West. Nada I think for years to keep high energy prices.
Antey

+2

28 June 2022 09: 25

Journalists, as always, do not see further than their topic. The main thing here is that pipeline supplies of oil and gas were cheap! Accordingly, European products remained highly competitive despite other high costs (high wages, taxes, environmental costs, etc.). Now the European industry will lose the main bonus from Russia. And vice versa, the sale of energy carriers to Asia at forcedly reduced prices will sharply increase the competitiveness of Asian goods (with lower wages and preferential taxation, in fact, government subsidies).
And this is against the backdrop of the West's gigantic spending on maintaining Ukrainian military pants, on rabies, on compensation for rising consumer prices, etc.!
Let us recall the forecasts of recent years that the coming century will be the "Asia Age". Here the "collective West" is digging its own grave, pushing Russia into the arms of a new hegemon. Well, we are also a little Asian. )))
SASS

0

28 June 2022 13: 55

And I like this site...)