Posted on 08/31/2023 5:39:43 AM PDT by JonPreston
The European Union is expected to import a record volume of liquefied natural gas from Russia this year, despite the bloc’s intention to wean itself off Russian fossil fuels by 2027. This revelation by the Financial Times comes as Hungarian Prime Minister Viktor Orbán said that he warned Ukraine that any attacks on Hungary’s energy supplies from Russia would lead to war.
According to an analysis of energy industry data by Global Witness, in the first seven months of this year, Belgium and Spain were the second and third most significant buyers of Russian LNG, behind only China, an increase much higher than the global average of 6% from January to July this year. LNG imports by the EU increased by 40% from January to June compared to the same period in 2021, mainly because the European bloc relied on Russian pipeline supplies before the special military operation in Ukraine started.
“It’s shocking that countries in the EU have worked so hard to wean themselves off piped Russian fossil gas only to replace it with the shipped equivalent,” Global Witness senior fossil fuel campaigner Jonathan Noronha-Gant told the FT. “It doesn’t matter if it comes from a pipeline or a boat — it still means European companies are sending billions to [Vladimir] Putin’s war chest.”
(Excerpt) Read more at infobrics.org ...
THAT’S FUNNY. Just the other day there was a story how Nat Gas prices were falling significantly in Germany and the EU.
War with Russia, Yea Right, Wink Wink.
But wait! I thought Germany was meeting its 50% goal for zero emissions from renewables?????
Dirty natural gas from Russia.
We could be selling OUR LNG to them instead if brain-dead Brandon and his communist handlers weren’t such f*ckers when putting America last.
“It’s shocking that countries in the EU have worked so hard to wean themselves off piped Russian fossil gas only to replace it with the shipped equivalent,”
Biden and the neocons are the Gang that Couldn’t Shoot Straight.
We are selling our LNG to Europe. The English just signed a 20 year contract for 3 Trillion Cubic Feet. But, so did the Chinese. There is only so much gas we can freeze and ship at this point.
A banker friend was in the consortium that funded the latest 6 Billion dollar LNG facility on the Gulf Coast. Once in operation it should pay for itself in 9 Months. 6 Billion dollars in 9 months.
Good of Russia to see that Europeans don’t freeze this winter, especially after the West BLEW UP THE PIPELINE.
Priced in Rubles I bet. At 100 to the dollar who could pass that up? The Russians are practically giving it away. It’s almost as if... Putin is plundering ...Russia.
It would appear (I’m not expert) that Russia sells it to a middle-guy (maybe in dollars), and the middle-guy turns around claiming he has ‘clean’ LNG to sell....selling it to EU companies.
With the crappy exchange rate on the Ruble...doubt if the Russians are making that much profit, and the middle-guy is clearing some type of profit.
Wouldn’t shock me if this were Ukrainian mafia portraying the middle-guys.
Wouldn’t be easier to transport all that LNG via a pipeline instead of shipping it to Europe ??
Oh, I almost forgot the USA blew up the Nordstream pipelines, which makes you wonder why blow up the pipeline when Europe is going to continue to import the LNG anyway.
Nothing says you are serious about a war than providing the weapons and financing for both sides in the same war.
International price, in dollars or euros.
Wait. Isn't one of those countries where one of our resident cheerleaders resides?
Original Reuters article.
“The EU’s Russian LNG imports in January-June would be equivalent to roughly 13 billion cubic metres (bcm) of natural gas, Aurora said.
The volumes are relatively minor compared to the much larger amount of pipeline gas Europe imported from Russia before the Ukraine war - around 140 bcm per year.”
Meanwhile, from the actual Russian gas company, we have:
Russia's Gazprom says it swings to Q2 net loss as exports to Europe slump
MOSCOW, Aug 29 (Reuters) - Russia's Gazprom (GAZP.MM) said on Tuesday it generated a net loss of 18.6 billion roubles ($197 million) in the second quarter of 2023 after a net profit of 1.03 trillion roubles a year earlier following the collapse of gas exports to Europe.
Me. The nice thing about lng is that it is like petroleum. It is a global commodity, if you have a gas terminal. Spain built a lot of gas terminal capacity.
Which means you are not tied to one gas supplier. Your tankers can come from anywhere.
With piped gas you have a dependency, you must suck from a sole source. In the case of Russian gas, there are few alternate pipeline sources currently available (Norway is the new major exception). So you are subject to blackmail, as Russia attempted in 2022.
Re “Brics Information Portal” - it was copying a Reuters story.
An incomplete cite of the Reuters story.
MOSCOW, Aug 29 (Reuters) - Russia's Gazprom (GAZP.MM) said on Tuesday it generated a net loss of 18.6 billion roubles ($197 million) in the second quarter of 2023 after a net profit of 1.03 trillion roubles a year earlier following the collapse of gas exports to Europe.
Sure, but LNG is much more expensive than pipeline gas.
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