The Russian giant has lost the European market, the largest and most profitable, which it may never fully replace. Profits skyrocket for now, but gas exports and production collapse. It will take many years and billions of dollars to conquer China
by Sissi Bellomo
Europe has not yet won the energy security challenge, but Gazprom has certainly lost. The Russian gas giant has killed its goose that lays the golden eggs and, despite its efforts to conquer China, will hardly be able to find another: It takes time and billions of investments, which Moscow could have increasing problems due to the sanctions and the War effort in Ukraine draining resources from state coffers.
Thanks to the crazy gas price hikes of the last few months…