According to reports from the Bloomberg agency, the main Chinese gas importers are looking to buy without attracting too much attention Russian LNG deliveries which are hardly sold on western markets and are therefore supplied at particularly low prices. It’s just the latest in a series of messages and statements showing how China, India and Pakistan are taking advantage of this the “sale” of oil, gas, etc Russian coal. Chinese stateowned companies, including the giants Sinopec and PetroChina They relocate to buy spot cargo from Russia, often loaded ships awaiting their final destination. Operations that would be scrutinized by fictional Russian companies to evade sanctions and international disapproval. PetroChina declined to comment. Sinopec did not answer. According to industry operators Russian LNG is sold at a discount of over 10% compared to normal North Asian shipments. Several Chinese refiners are doing the same thing, but with Russian oil, which they buy cheaply.
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Russian gas, oil and coal bring China, India and Pakistan together: race to buy at discount prices
China is a big consumer of LNG, before the Ukraine crisis exploded it absorbed the vast majority of supplies. Then the increase in spot prices (ontime delivery and not tied to longterm contracts) on the European market of about 500% in one year, have diverted many of the charges to the ports of the old continent. Russia is linked to China by the Power of Siberia pipeline and is working with Beijing on a new pipeline. At the moment, the size of Moscow’s infrastructure does not allow this divert its gas from Europe to Asia. The European Union is considering new sanctions against Russia, so far the hydrocarbon trade has been largely unaffected by these measures. Every day, Europe pays an average of around one billion euros to Russia for the supply of energy raw materials. “Without Russian gas, we have to back to coal‘ said the German Economics Minister some time ago Robert Habeck.
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