- cross-posted to:
- worldnews@lemmy.ml
- cross-posted to:
- worldnews@lemmy.ml
China’s imports of US liquefied natural gas have completely stopped for more than 10 weeks, according to shipping data showing how the Sino-American trade war has spread to energy co-operation.
The freeze on US LNG is a repeat of a block on imports that lasted for more than a year during Donald Trump’s first term as president.
But the impact of the stand-off has potentially far-reaching implications, strengthening China’s energy relationship with Russia and raising questions over the huge expansion of multibillion-dollar LNG terminals that is under way in the US and Mexico.
China’s ambassador to Russia said earlier this week that China would probably step up its imports of Russian LNG instead. “I know for sure that there are a lot of buyers. So many buyers are asking the embassy to help establish contacts with Russian suppliers, I think there will definitely be more [imports],” said Zhang Hanhui.
Russia has emerged as the third-largest supplier of LNG to China, behind Australia and Qatar; the two countries have also been negotiating over a new gas pipeline, the Power of Siberia 2.
Considering the geography, is it not cheaper for China to get LNG from Russia anyway?
Art of the deal.
That means the price of LNG will go down, right…? RIGHT…?
Just like gas prices went down after the price of oil dropped?
It should for Europe and others. Also good news for less drilling, and more US energy failures, more renewables.
Full article: https://archive.is/U5Uc9
Thanks, not sure why archive.today and .org couldn’t load the article on my end