/Polegd.info/ Recently, Washington has ineffectively corrected its own mistakes. By destabilizing the energy market around the world, instead of the proposed ban on the supply of oil and gas from the Russian Federation, the US achieved increased sales of raw materials and large revenues for the Russian budget.
Now Washington is desperate to correct its own oversight. But it doesn’t turn out very well. This is written by the specialized industrial resource OilPrice.
A little earlier, the White House had already made a similar mistake, which led to similar consequences. As European LNG buyers dump shipments from the United States in a race to replace Russian pipeline gas supplies, America has become the main supplier to the EU (apart from Russia), with sales to China reduced to a few small supplies this year .
China’s 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 noted by resource experts, the Russian Federation is losing market share in Europe and gaining it in Asia, especially in relation to China.
In a way, the usual markets for Russian energy resources are being replaced by Asian ones, and this may lead to the same painful new dependence of the Russian Federation on exports as in the case of Europe.
However, global trade flows of energy are changing dramatically, and this is likely to be forever. Europe will not return to Russian energy and is on an irreversible path to free itself from dependence on Russian oil and gas, which Western allies see as having more than an economic role.
Banned, sanctioned and shunned in the West, the Russian Federation is now looking East to sell its energy. But analysts warn that Russia, left 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 the supply of liquefied natural gas in 2023-2026. However, before the start of the implementation of the agreements, Russia will already have time to capture part of the market.
Translation: SM
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