The European Union has reportedly been meeting its natural gas needs with increased imports from Communist China, which has been purchasing gas in bulk from Russia.
Beijing’s decision to up its purchases of Russian liquid natural gas since the beginning of the year has seemingly paid off, with the communist nation’s surplus LNG being shipped to the energy-strapped European Union at a premium.
According to a report from the Hong Kong-based South China Morning Post in July, the Chinese state bought 2.35 million tonnes of liquid natural gas during the first half of the year from Russia for approximately $2.16 billion, an increase of 28.7 per cent over last year and the value of which has increased by 182 per cent.
At the same time, imports from all other major LNG suppliers to China have fallen, meaning that Russia has become the Asian nation’s second-largest source of the energy source, overtaking the United States and Indonesia.
Meanwhile, a report this week from the Financial Times noted that due to the economic slump in China amid continued Wuhan virus lockdowns, the communist country has begun selling its surplus of LNG on the international spot market, from which Europe has turned to as it tries to fill its gas storage facilities before the winter months.
With the supply of Russian gas to Europe hitting a 40-year low, the bloc has been willing to pay the premium on the open market to shore up its supplies, as there are concerns that Russia could further cut the taps in the winter months to put the squeeze on Europe, which has heavily sanctioned Moscow over the war in Ukraine.
Consequently the European Union’s imports from the international market have jumped by 60 per cent in the first six months of the year over 2021, totalling some 53 million tonnes.
The result has been a boon for Beijing, with one recent trade from the Chinese JOVO group of an LNG cargo ship to a European buyer netting up to $100 million in profits. The Chinese state-owned energy company Sinopec, alone, has reportedly sold 45 shiploads of LNG, totalling some 3.15 million tonnes on the open market. According to estimates from FT, China has resold some 4 million tonnes on the international market this year, approximately equivalent to seven per cent of the EU’s imports in the six months leading up to July. source: breitbart.com/europe/2022/09/02/european-union-meeting-gas-needs-by-turning-to-communist-china-which-has-bought-surplus-supplies-from-russia/
Jason Cox
So the EU is buying Russian oil but paying a premium for it? We sure showed Putin!
Jacob Jones
yep
Evan Thomas
China would be buying putin's half price penny gas anyway.
Josiah Johnson
Is China paying the full price for it?
Asher Wilson
When will this whore hang from a lamppost necked by her own guts?
This 4D chess move to bypass a self imposed embargo will never be appreciated by Any Forums as it full value.
Don't forget to close nuclear power plants and to reopen coal plants to save the climate.
Jacob Cooper
>It's incompetence not well planned malevolence I hate you midwits so god damn much
Ryder Flores
So Russia sells at a discount to China, losing money, then Europe buys it from China. I don't see anything wrong with this, the entire point was to cause Russia economic damage.
Michael Watson
>Cucktin is forced to sell gas to China practically for free because otherwise he'll have no market to sell it at all >Europe is forced to pay China extra for the gas or it will freeze in winter Looks like Xinnie the Pooh was the real 4D chessmaster all along.
Eli Wood
The "discount" price that's the price what we should pay without the sanction consequences. Russia is loosing nothing on this business. They are not accidently burning-out the surpluss gas.
Wyatt Ortiz
Selling at discount is not the same as selling at loss, my retarded friend.
Lincoln Jones
don't worry Russia will collapse soon and russians will be angry at putler then
you want to sell your shit that worths 5 beans. you could sell at 10 beans. but you somehow lost money because you did not sell at 12 beans.
now I understand how that slut can be your leader.
Elijah Morris
Correct, which is why the EU having higher costs is a success. Less money is less money.
Jaxson Kelly
Russia doesn't lose money. Russia makes slightly less money. EU countries on the other hand have to pay considerably more. The EU is doing more damage to itself than to Russia. And considering the spike in energy prices caused by the disruption of the usual supply chains, it is questionable to assume that Russia is making less money by selling to China at a discount. Prices are so high that Russia may be making more money now than before the war, even by selling at a discount. So, basically, the EU just wants to virtue-signal by not buying Russian gas directly. Same as usual.
Carson Cooper
>communist china
oh fuck off, they haven't been communist since 1950
Robert Allen
Less money is less money, but Russians are in absolute terms earning MORE money. Not that Russians aren't suffering from sanctions, but what they're suffering is nothing compared to what Europe will suffer this very winter.
Angel Johnson
>Russia makes slightly less money. Not even that. Russian STATE is earning shitload of cash, more than enough to offset the costs of this war in Ukraine. Russian people as whole are suffering loses, and they're in for economic trouble, but they will pick up from this.
Europe won't. I'm gonna go ahead and say that EU will literally die this winter, in practical terms. It's over. Economic disaster that's coming will totally wreck any semblance of political unity.
