IMAGE: Sputnik/Sergei Krasnuhov
Russia shipped 17.29 million tons of LNG (liquefied natural gas) to European and Asian markets, the International Group of Liquefied Natural Gas Importers (GIIGNL) said in an annual report.
According to report, Moscow shipped 4.43 million tons of LNG to the 15 European countries including Spain, France, and the Netherlands, while the US shipment to European market was 2.7 million tons. The Russian LNG shipment to Europe grew by 6.4% in comparison with the previous year.
At the same time, 12.86 million tons of Russian LNG was shipped to Asian market last year. Th US import for the same market was 10.73 million tons.
These numbers show why Washington is fiercely working to undermine the Nord Stream 2 gas pipeline from Russia to Germany. If the project is completed, the US share in the European market may decrease even more.
For US to sell more LNG in Europe, they have to have a competitive price. The market dynamics are determined by supply and demand at competitive prices, without political extortion or pressure.
US loves to convince buyers by pointing a gun rather than offering competetive prices.
Russian application of capitalism is more efficient than the US model. Soon the only gun US will have to threaten with will be a water gun..
On Wednesday, Novatek’s Chief Financial Officer Mark Gyetvay told the IP Week conference in London that Novatek was able to deliver LNG to Europe for $3.15/mmBtu.
https://adi-analytics.com/
Russian operational costs are significantly lower than US’s, so they can play the competitive card very effectively.
Poland and Baltic countries are suckers blinded by Russophobia, EU major players will try a balancing act and do business in a sensible way. EU countries specially Germany, suffered economic losses because of the sanctions against Russia, buying expensive US LNG would exacerbate those losses. I do not thing EU will go along with a loose, loose scheme.
The American dream of selling gas to Europe was always only a fantasy. The US simply does not have the infrastructure to export LNG competitively. They export LNG from the Gulf of Mexico, but then import Russian gas into New York over winter, because they don’t have the pipelines or the inclination to build them. Even in America Russian gas is cheaper than American gas.
Syria Libya Iran Venezuela Ukraine Myanmar Nigeria Yemen, and the efforts to stop Nordstream2 are all connected. The USA is bankrupt, and the only way they can see of paying the interest on the money they owe is by owning/controlling global energy supplies.
Keep the pressure up, use as little fuel as possible, and buy gold or silver.