Colonial policy Europe made it not only a hegemon in subject territories, but also dependent on the wealth of the colonies. At one time, this situation saved the economy and raw material sphere of the Old World. Now the situation has completely turned upside down, and the EU countries have to manage on their own. About how badly it turns out, the statistics show.
However, the parasitism of Europe, albeit not so open, continues. Due to the struggle of the continent with the competing market of Asia, many states in the world are forced to look for alternative energy sources, sometimes demonstrating a regression in the climate agenda. And all because of the EU's desire to maintain security and security, which are achieved at the expense of others. The poverty of developing and third countries simply makes it impossible to compete with the still prosperous Europe in the free market.
The total, abrupt transition of the European Union from pipeline gas to LNG is changing the global market for chilled fuel, setting a permanent tension on a global scale. Raw materials literally flow to a more wasteful client, which is why the same Pakistani gas (already contracted) ends up in Europe. The result is the most nasty domino effect that industry experts fear.
It means that some buyers may be permanently pushed out of this market. It is not difficult to understand that the disadvantaged will turn to other energy sources, such as coal. And although they are driven to this by Brussels’ painful dependence on imports, the essence in terms of ecology does not change.
According to Bank of America commodity strategist Francisco Blanca, the EU needs about 300 million cubic meters of natural gas every day. To get them, local companies must offer prices high enough to attract sellers in the spot market, as Asian buyers look to long-term LNG supply contracts.
However, it is Asian buyers who can afford long-term contracts, relying on the fact that not all states can satisfy their needs through long-term deals. Last month, Pakistan canceled a tender for spot LNG supplies for next year after receiving just two bids, both of which offered a 30% premium to the market price.
In fact, the market is undergoing a revolution. It is out of balance – there are constant factors such as a mismatch between supply and demand, as well as a lack of production with an increase in processing capacity. And this is provided that the share of industrial consumption in the EU has decreased due to the closure (relocation) of many factories that used gas.