Monday, October 17, 2022

Red China Puts the Screws to Europe

This is interesting.

...According to Bloomberg, Chinese state-owned energy giants have been recently told by authorities to stop reselling liquefied natural gas cargoes (certainly those from Russia) to gas-starved Europe, in what could be a blow to the European hopes of continuous high inflows of LNG as the winter approaches.   

China's National Development and Reform Commission (NDRC), the country's top planning body, told the country’s state-held LNG importers including Sinopec, PetroChina, and CNOOC, that they should stop reselling LNG cargoes and keep them to ensure Chinese gas supply this winter, Oilprice reported citing Bloomberg sources....

They had been re-selling Russki gas at a nice profit.

We'd been led to believe that Red China is not a "friend of Russia", at least vis-a-vis the Ukrainian mess.  Perhaps not, but they're certainly not a "friend of Europe."


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